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Agent b. Principal c. Third Party d. All of the above Ans: c Ratification can be done for the act which is done on behalf of a. Third party c. Principal d. Estoppel c. Implication d. Contingent Ans: d Contingent c. In a contract of sale, parties...
Institutions 3. Corpus Iuris Civilis 4. Question 3 Belouxi is a coastal town situated on a deep bay. Whales migrate to Belouxi Bay annually to breed. This natural phenomenon has become a major tourist attraction. During the breeding season the...
The Constitutional Court has the final say in all matters relating to the interpretation, protection and enforcement of the provisions of the Constitution. Dutch law. Roman law. English law. South African case law. Corpus Iuris Civilis. English case law. The Constitution of the Republic of South Africa of Judgments of the Dutch courts before A High Court, whether it is a full bench consisting of three judges, a bench of two judges or of only one, is bound by the decisions of the Supreme Court of Appeal.
One High Court is not bound to follow the decisions of a High Court from another area of jurisdiction. Within the area of jurisdiction of one High Court, a bench of two judges is bound by a decision of the full bench of the same Court. It must have existed for a long time and be reasonable. It must be generally recognised and observed by the community. The contents thereof must be certain and clear. A court must have recognised the custom as a legal rule. Question 10 Soon after the death of multimillionaire John Deer a dispute arises regarding the validity and interpretation of his will. Which ONE of the following courts should be approached to adjudicate the matter? A magistrate's court. A small claims court. The Constitutional Court. The Supreme Court of Appeal. A High Court. The Clerk.
The Registrar. The litigating parties themselves. The Sheriff. The Supreme Court of Appeal, which usually sits in Bloemfontein, has jurisdiction to hear constitutional and other matters and is a court of appeal for the High Courts. A case relating to the interpretation of a will, will be heard by a magistrate's court. The High Courts have original jurisdiction which means that they can only hear certain matters that arise in their geographical areas of jurisdiction.
Only a, b and c. Only c, d and e. Only b and d. Only b and c. Only a and e. A Magistrate's Court is bound to follow a decision of another Magistrate's Court. The Supreme Court of Appeal is bound by its previous judgments, even if the court is convinced that f' previous decision was wrong. A full bench of a High Court is bound by both the ratio decidendi and the obiter dicta of the Supreme Court of Appeal. Only the Constitutional Court. Only a High Court. Both the Constitutional Court and a High Court. Question 15 Mr Dube wants to sue Mrs Dube for a divorce. Which court should he approach? Dutch legislation before Question 17 Which ONE of the following phrases indicates that the court will consider its judgment? It must have been reduced to writing. Statute law. Customary law.
The old authorities. Judgments of the superior courts. Foreign law. Question 20 Which one of the following is not a source of modem South African Law? Legislation; 2. Judicial Precedent; 3. Custom; 4. Modern Text Books. Magistrates Court. Small Claims court. Supreme Court of Appeal. Income Tax Court. Question 22 Indicate the incorrect statement: 1. Customary law consists of written rules developed from the views of the community and which are carried forward from generation to generation. Common law is to a large extent based upon the writings of Roman and Dutch jurists of the seventeenth and eighteenth centuries. Modern legal textbooks have no inherent authority but may be considered by the courts to be persuasive. An Act of Parliament takes priority over all other legislation and laws including any court decision. Decisions of the Supreme Court of Appeal bind all divisions of the High Court as well as all inferior courts.
The Supreme Court of Appeal regards itself as bound by its own previous decisions unless it is convinced that its previous judgment was incorrect. The ratio decidendi of a case may never be departed from by a judge even when he feels that there are grounds for distinguishing the case before him. Where there is no previous Supreme Court of Appeal decision, a division of the High Court is bound by a judgment of the same division that is made up of the same number of judges or more. The obiter dicta may be described as statements of law not necessary for the decision of the case in which they are made. Where there are conflicting decisions in his own area, a magistrate must follow the decision of the larger court and if the courts are of equal size, then he must follow the latest decision. The ratio decidendi are statements made by a judge in passing and are highly persuasive. One provincial division is bound to follow the decisions of another provincial division of concurrent status.
If a judge finds that the material facts of a case before him differ from those in a previous case, he will not be bound to follow the ratio decidendi in that case: he distinguishes the previous case from the one he must decide on the basis of the material differences of fact between the two. If there are no Supreme Court of Appeal or High Court decision in point, a magistrate is obliged to follow the ruling of a fellow magistrate. The effect of the doctrine of stare decisis is that any court deciding on a point of law is always bound by a previous decision of another court on the same point of law. The binding authority of a Supreme Court of Appeal decision is affected by the composition of the court, i. A municipal regulation. A legal custom. A full bench of the Bloemfontein High Court.
A decision of a single judge sitting in the Pretoria Division of the High Court which he is convinced is wrong. Binds only the parties to that case. Will generally be followed when different parties involved in a case with a similar set of facts come before the court. Is made up of statements made by the judge, each of which is known as an obiter dictum. May never be departed from by a judge even when he feels that there are grounds for distinguishing the case before him.
Jean Murray Updated November 30, The ABC test is a guide for employers to determine whether a worker is considered an independent contractor or an employee in the eyes of the government. With the rise of the gig economy, the ABC test has become more prominent in business. Learn more about the ABC test to know your rights as a contractor or your obligations as an employer. The ABC test is a test employers must pass to classify a worker as an independent contractor in many states and according to the U. Department of Labor. Employers are responsible for the correct categorization of workers or could face costly fines. The designation is important because it determines the payment of Social Security and worker's compensation benefits. Depending on the state where the work is performed, the ABC test may also apply to wage and work hour laws. Some states base the availability of unemployment insurance on the status, while others use the test only in specific industries.
Additionally, some states use only parts of the ABC test, while still others use the common law test, which also consists of three parts and is utilized by the IRS. Be sure to check with your state's employment authorities if you have any questions regarding worker classification. The IRS and states assume that a worker is an employee unless proven otherwise. Superior Court. Subsequently, the state legislature passed AB , which made exemptions for many types of contract workers, and the voters of California approved Proposition 22, which declared drivers and delivery people to be independent contractors.
AB 5 In September , California put into place AB 5, which stated that a worker should be considered an independent contractor only if they met each of these three criteria: The worker is free from the control and direction of the hiring entity in connection with the work's performance, both under the contract for the performance of the work and in fact. The worker performs work that is outside the usual course of the hiring entity's business. The worker is customarily engaged in an independently established trade, occupation, or business of the same nature as the work performed. This test looks at three factors of control : behavioral, financial, and relationship type.
No one control factor is considered defining; even if a contract exists with the worker, it is not proof of an independent contractor relationship. For example, even if the driver's control and direction requirement is met, it looks like an Uber driver is doing work that is within the usual course of Uber's business. Uber is about driving people, and Uber drivers drive people. If Uber hired people to handle customer service, those workers might be considered to fall outside of the usual scope of Uber's business. Workers who have duties outside the core functions of a specific business include the types of jobs that are frequently outsourced, such as maintenance workers, those in financial support roles like payroll and accounting, and IT and call center staffers.
The customary engagement requirement further limits the possibility of workers being considered as independent contractors. The types of workers who would fit into this category would be professionals—particularly licensed ones. They might have their own practices or work for various customers within the scope of their professional duties. These independent professionals consist of a wide range of occupations, including barbers, massage therapists, certified public accountants, chiropractors, and construction contractors and subcontractors. The legislation's main purpose was to expand the types of workers who were exempt from the ABC test. Under AB , many entertainers, including musicians, comedians, and magicians, and associated professionals, like songwriters, promoters, and publicists, are now considered to be contractors.
In addition, those in media-related freelance jobs, such as writers, photographers, copy editors, and cartoonists, are able to take on as many assignments as they want for a certain publication without being classified as an employee; under AB 5, they were limited to 35 a year. For example, a company may now offer its services directly to customers rather than only to the other company with which it had a contract. Specifically, it defined app-based transportation and delivery drivers, such as those who work for DoorDash, Lyft, and Uber, as independent contractors. The initiative to place Proposition 22 on the ballot was funded by those three companies. Although several states have adopted the ABC test as law, other states may be using it for only specific situations, like determining unemployment insurance eligibility. Regardless of how much of the test is applicable in your state, the responsibility falls to the employer and not the worker to check off the boxes.
Employers must be able to answer yes to all three qualifications to classify a worker as an independent contractor. If an employer answered no to any of the questions, then the worker is an employee. As such, they require a W-2 , a set work schedule, and the withholding of various taxes from their paychecks. It's confusing when federal and state laws conflict, and it leaves employers wondering which rules they should follow. In general, employers should adhere to whichever law is most generous to the worker.
If you think your business might need to re-examine the status of some of its workers, start by getting an employment law attorney. You will need to look at your state's current employment laws and have your attorney keep you advised of issues and changes. If you fail to classify a worker correctly, you could face fines and penalties. The application of the ABC test—or its common law test alternative—varies by state. An employer must answer yes to all three parts of the test to qualify a worker as a contractor. The IRS automatically categorizes workers as employees unless proven otherwise. Article Sources.
Consisting of objective type questions from various important concepts of Business Law, this test presents you questions followed by four options. The correct answer and explanation provided with each question make it easier for you to to understand each concept well. Who is this Business Law Online Test designed for? All the management students and experienced professionals will find this test extremely useful.
All freshers, B. Three people are under a joint promise to pay Rs. While making the actual payment, one person is compelled to pay the whole amount of Rs. He can recover contribution of Rs. Each one of them b. Only one of them c. None of them d. Both of them together Answer Answer: a. Each one of them 2. Agreement to purchase.
In case of a public company, minimum number of directors is 3. No person can hold office as director, at the same time, in more than 20 companies. The maximum number of members of a private company is A Company Secretary is merely an agent of the company. In case of members, voluntary winding-up of a company, the liquidator is appointed by the Shareholders of the company. The Company Secretary is the proper authority to convene annual general meeting. In case of public company, minimum number of directors is 3 three.
The gap between two Annual General Meetings must not be more than 15 months. Minimum number of members in a public company is 7 seven. Share warrant is a kind negotiable instrument. An article of Association of a company contains rules and regulations for the internal management of the company. A company incorporated in India but its all members are foreigners, then it will be a Indian company. Unregistered companies are not required to have any Memorandum or Articles of Association. The Board of directors may appoint an additional director. Share warrant is a negotiable instrument. The prospectus of a company must be issued within 90 days of its registration. The gap between two annual general meetings must, not be more than 15 months. According to Section of the Companies Act, no person can be a director in more than 20 companies. A person may cease to be a member of a company when share warrant are issued in exchange of the fully paid-up share.
In case of private company, quorum of general meeting is minimum two members personally present. When market price of shares is more than the face value, the difference between the two is called premium. A person appointed to attend and vote on behalf of a member in a company meeting is known as a proxy. A person cannot hold office as director at simultaneously in more than 20 companies.
A public company is required to have minimum Rs. Nil as paid-up capital. After registration of the company, the memorandum becomes a principal document. Quorum, for General Meeting for a public company is 30 members personally present, if the total numbers of members as on the date of meeting is more than The maximum number of directors in a public company is 15 as per the provision of the Companies Act. Private companies are not required to have any Memorandum or Articles of Association. A fixed charge is usually created on tangible fixed assets. Annual return shall be filed with registrar within 60 days from the date of the holding of the Annual General Meeting. The share is a movable property. Shares and Debentures of a company are freely transferable. Common seal is not compulsory. Shares of Private companies are not transferable.
Maximum members in private company: Private company cannot issue Prospectus. Maximum paid-up share capital of small companies: 10 Crores. Foreign companies are those which are registered outside India. They can have place of business in India. Dormat companies are formed for a Future project or to hold an intellectual property. Change in the name of the company can be effected only with the written approval of the Central Government in writing. As per the Companies Act, both private and Public companies have to obtain certificate of commencement of business.
Doctrine of ultra vires means Acts done outside the Memorandum of the Company. The memorandum must be signed by 7 persons in case of a public company.
What the Examiners Say Overview The LW syllabus is designed to develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary. Remember, the aim of LW is not to turn you into a lawyer, but rather to focus on the legal areas that an accountant must be aware of when practicing. The syllabus covers a range of legal areas that an accountant needs to have knowledge of to assist in their career, such as contract law, employment law, and understanding the formation, financing, and administration of companies, as well as corporate fraud among other things. Therefore it is essential to build a strong foundation of knowledge while studying for the LW course. LW Exam Format This exam follows a unique format for an Applied Skills course, as it is more similar to the Applied Knowledge exams you will have been used to, or had exemptions from.
The LW exam consists of two sections with all compulsory questions. The breakdown of these is as follows: Section A comprises 25 Objective Test OT questions worth 2 marks each, for a total of 50 marks, and 20 Objective Test OT questions worth 1 marks each, for a total of 20 marks. These can come from any syllabus area. Section B contains 5 Multi Task Questions, each worth 6 marks each, for a total of 30 marks. Once again these can come from any syllabus area. These are analysis and application questions, and the format is a series of tasks that relate to a problem scenario. This means that every question on the exam can come from any topic on the syllabus, so failing to cover the full course will no doubt prove very costly in the exam. Get your free interactive study plan today to pass your exams. This plan not only tells you what to study each week, it also gives you a question to practice on each topic. LW Syllabus Guide The aim of the LW syllabus is to develop an understanding of the general legal framework, and of specific legal areas relating to businesses.
In order to achieve this goal, ACCA outline 8 main capabilities that candidates should be able to do upon completion of this exam: Identify the essential elements of the legal system, including the main sources of law Recognise and apply the appropriate legal rules relating to the law of obligations Explain and apply the law relating to employment relationships Distinguish between alternative forms and constitutions of business organisations Recognise and compare types of capital and the financing of companies Describe and explain how companies are managed, administered and regulated Recognise the legal implications relating to insolvency law Demonstrate an understanding of corporate fraudulent and criminal behaviour. LW Study Tips 1 — Cover the full syllabus As you may have picked up earlier, to be successful in this paper you need to cover the full syllabus. A broad knowledge of all syllabus areas will help you on the day, as the exam is designed to test the full spectrum of legal knowledge that an accountant is expected to have a basic understanding of.
To give yourself the best chance of passing, you need to practice questions from the full range of different topic areas, as this will give you the strongest foundation of knowledge to tackle whatever exam you are faced with. This requires not just a good grasp of the theory but also a huge amount of question practice to develop your analysis skills, therefore we recommend using our 8 week study plan to prepare for this. This allows you to follow our recommended study plan which includes 6 weeks of reviewing the content and testing yourself with practice tests. This will help you get through the full syllabus as noted above. The plan also includes 2 weeks of our exam technique phase which focuses on exam and question practice through our Mock Exams and our Revision Bootcamp. Having this structured study in place will give you both a strong foundation of knowledge and good exam technique to give you the best chance of passing.
If you can keep working through questions in that manner, you will start to develop a very good understanding of both the content and how it is examined. And it genuinely works. You can become a member by signing up for a monthly, quarterly or yearly plan to get access to everything you need to pass ACCA Taxation and every other exam. LW Exam Technique 1 - Practice time management The exam is all compulsory questions, therefore planning for the paper as a whole is vital, and you need a time management system in place throughout. With a 2 hour paper, you have minutes to complete the mark paper — so you should spend 1. This is particularly important for OT questions where the incorrect answers are designed to mislead you. If you input your answer too quickly you may miss key points and marks, so take time to ensure that you have understood the context of the question and apply the correct knowledge.
Remember, always answer the question asked. The more comfortable you are with the format of CBE exams and the different ways that your required to give your answer, the better you will perform in the real exam. All aspects of the syllabus can be examined in one exam and therefore it remains imperative that candidates study all topics in the syllabus in order to be successful in the exam. Give yourself the best chance to succeed in your upcoming ACCA exams with a free interactive study plan that will help guide and support you right up to exam day.
Consisting of objective type questions from various important concepts of Business Law, this test presents you questions followed by four options. The correct answer and explanation provided with each question make it easier for you to to understand each concept well. Who is this Business Law Online Test designed for? All the management students and experienced professionals will find this test extremely useful.
All freshers, B. Three people are under a joint promise to pay Rs. While making the actual payment, one person is compelled to pay the whole amount of Rs. He can recover contribution of Rs. Each one of them b. Only one of them c. None of them d. Both of them together Answer Answer: a. Each one of them 2. Agreement to purchase.
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