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Question: THE RISE AND FALL OF THE DOCTRINE OF EQUITY OF REDEMPTION MIRRORS THE IMPORTANCE OF MORTGAGES AND LAND TO THE ENGLISH RULING CLASSES. DISCUSS.

Answer: Used in exceptional circumstances, the equity of redemption was initially a timid response to a common law that \"construed mortgage transactions “strictly and unsympathetically\" . Yet the use of this doctrine rapidly...


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Details: - Mark: 61% | Course: Commercial Law | Year: 1st | Words: 1971 | References: No | Date written: January, 2002 | Date submitted: October 20, 2008 | Coursework ID: 147

Question: Tom, an architect, entered into a contract with Jerry to construct a double storey house for £200,000 on a piece of land that Jerry had inherited from his grandmother. They agreed that the house should be built by the 31st September. Tom engaged Rachel to carry out all the plastering work by the 21st September. Rachel had completed about half the work when she informed Tom that she had underestimated the time the job would take and that she would in all likelihood finish the plastering on the 2nd October. Tom offers to pay Rachel an extra 30% of the agreed price and suggests that she employs a plasterer to help her with the work. Rachel asks Beatrice to help her and as a result the plastering is completed on the 21st September. Jerry has informed Tom that his investments are doing badly and that he will not be able to pay Tom the price they agreed. Tom takes the £190,000 that Jerry offers him, nodding when Jerry says that that this is ‘in full settlement’ of the price. Jerry has in fact been investing in more shares and Tom has asked Jerry to pay the remainder of the price. Meanwhile Tom has refused to pay Rachel the extra 30% of the agreed price for the plastering.

Benedict, a fine arts student, obtained Jerry’s permission to carve a piece of rock in one corner of Jerry’s property while the building work was going on. On seeing the finished carving, Jerry promised to reward Benedict with £700 ‘to help him out with his tuition fees’. Benedict is still awaiting payment from Jerry.

Advise Jerry, Rachel and Benedict.

SOAS, University of London, 1st year LLB Criminal Law

Answer: The issues concerned in the problem question are mostly about consideration, promissory estoppel and about the formation of a contract. We would need to consider all the claims separately and use relevant...


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Details: - Mark: 60% | Course: Commercial Law | Year: 1st | Words: 1248 | References: Yes | Date written: November, 2012 | Date submitted: April 02, 2014 | Coursework ID: 849

Question: "...the relationship between management and ownership in limited liability companies has tended progressively to be more and more shadowy. Even before the (second world) war, apprehension was expressed on this point, and remedies were then suggested, and, with the great growth in the size of companies, the old relationship, which really grew out of the idea of partnership, where individual owners were closely concerned themselves with the management, has largely disappeared in modern company structure. The growth of groups or chains of companies, which make the true economic entity rather than the company itself, where we get a whole complex of companies operating together—that factor has still further divorced management from ownership. This now well-developed tendency is, in fact, practically ignored by the company law as it exists today…"

Hansard HC vol 438 col 585 (6 June 1947) Companies Bill, 2nd Reading, Sir Stafford Cripps, 585-588.

Discuss the extent to which the above statement reflects the state of company law in the United Kingdom in 2012.

Answer: William Gladstone, in the mid-nineteenth century, felt that it would be advantageous for company law if the characteristic of limited liability was introduced . This saw the passing of the Limited Liability...


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Details: - Mark: 60% | Course: Commercial Law | Year: 2nd/3rd | Words: 1980 | References: Yes | Date written: October, 2012 | Date submitted: February 25, 2013 | Coursework ID: 773

Question: Laura Plc has an issued share capital of £500,000 divided into 400,000 £1 ordinary shares and £100,000 £1 preference shares. The articles of association of Laura Plc provide that the holders of the preference shares shall be entitled to an annual dividend of 15% in preference to the ordinary shareholders. The articles also provide that the rights attached to any shares shall be deemed to be varied by the reduction of capital paid up on those shares.

Advise the board of directors who at the moment feel that the company has too much capital and wishes to pay off the preference shares at par in reduction of capital. The preference shares stand at £1.25 in the market.

Answer: The Companies Act 1985 states that for a company to reduce its share capital it must comply with its Articles of Association, found in Table A under article 34. In order for...


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Details: - Mark: 60% | Course: Commercial Law | Year: 2nd/3rd | Words: 1412 | References: No | Date written: Not available | Date submitted: July 02, 2009 | Coursework ID: 501

Question: James wants to change his business into a company; James will receive many benefits if he chooses to take this option. I am going to talk about the main advantages of changing his business into a company which includes the limited liability that James will be entitled to.

Answer: A company is a business organisation that is registered under the Companies Act 1965 , this legislation means that the organisation created is subject to different rules. If James incorporates his business...


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Details: - Mark: 60% | Course: Commercial Law | Year: 1st | Words: 3090 | References: Yes | Date written: October, 2004 | Date submitted: July 02, 2009 | Coursework ID: 499

Question: ‘Salomon v Salomon is an outdated case with little relevance to modern company law.’ Discuss.

Answer: Salomon v Salomon served to establish the principle of corporate personality that ‘forms the cornerstone of company law.’ It is my contention that despite various attempts by both the legislature and the...


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Details: - Mark: 60% | Course: Commercial Law | Year: 2nd/3rd | Words: 1867 | References: Yes | Date written: November, 1999 | Date submitted: July 02, 2009 | Coursework ID: 498

Question: This paper will outline the provisions and objects of the Contracts (Third Parties Act) 1999 and address four areas in relation to the Act.

Answer: This paper will outline the provisions and objects of the Contracts (Third Parties Act) 1999 and address four areas in relation to the Act. 1. Will the Act achieve its objectives? 2....


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Details: - Mark: 60% | Course: Commercial Law | Year: 2nd/3rd | Words: 5921 | References: Yes | Date written: February, 2004 | Date submitted: February 17, 2009 | Coursework ID: 261

Question: The Problems Associated with the Assessment of Risk in the context of Insurance.

Answer: Risk assessment is used in an effort to quantify risk - the chance of negative consequence. Insurance firms or underwriters use risk assessment as the basis for their decision on whether to...


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Details: - Mark: 60% | Course: Commercial Law | Year: 2nd/3rd | Words: 2251 | References: Yes | Date written: March, 2003 | Date submitted: February 17, 2009 | Coursework ID: 259

Question: To what extent is the rule contained in the Salomon v. Salomon & Co. Ltd judgement open to abuse?

Answer: The company as a separate legal personality from that of its members as defined by the Companies Act 1862 was established in common law by the House of Lords in 1879 when...


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Details: - Mark: 60% | Course: Commercial Law | Year: 2nd/3rd | Words: 4687 | References: No | Date written: Not available | Date submitted: February 17, 2009 | Coursework ID: 246

Question: COMPANY LAW AND THE RIGHTS OF SHAREHOLDERS

Answer: Director’s duties exist to protect shareholders from the risk of directors causing harm to the company or its property. The risk arises because the internal rules of most companies vest the power...


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Details: - Mark: 60% | Course: Commercial Law | Year: 1st | Words: 4226 | References: Yes | Date written: July, 2004 | Date submitted: February 17, 2009 | Coursework ID: 245


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