An LLP dissolves when a member leaves. 

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 Advertising an auction is an offer to sell 

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As a general rule, silence cannot constitute acceptance. 

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 Under which circumstance would a member of a limited company have to contribute funds on winding up? 

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 The minimum share capital of a public limited company is: 

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Past consideration, as a general rule, is not sufficient to make a promise binding. 

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Which of the following statements regarding the adequacy and sufficiency of consideration is correct?

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 A company can confirm a pre-incorporation contract by performing it or obtaining benefits from it. 

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 If a public company does business or borrows before obtaining a trading certificate from the Registrar, the transaction is: 

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A business has compiled the following information for the year endedOpening inventory Purchases Closing inventoryThe gross profit as a percentage of sales is always 40%Based on these figures, what is the sales revenue for the year?

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 Which of the following calculations could produce an acceptable figure for a trader's net profit for a period if no accounting records had been kept?

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Terms implied by custom cannot be overridden. 

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A business is classed as a consumer if it does not make the contract in the course of its business. 

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 A court will never enforce a liquidated damages clause, as any attempt to discourage breach is void. 

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Which of the following describes liquidated damages?

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Working for a number of different people is an automatic sign of self employment? 

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How can an employee show acceptance when the terms of their employment contract have changed? (i) Signing a wholly new contract (ii) Working under the new terms (iii) Agreeing verbally 

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 Expiry of a fixed-term contract without renewal amounts to a dismissal. 

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 Which one of the following is not a question that a tribunal, when considering an employer's reasonableness in an unfair dismissal claim, will want to answer? 

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Which one of the following would help a company with high gearing to reduce its gearing ratio?

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