D、A mixture of subjective and objective but only to reduce potential liability

　　15 Which of the following statements as regards an acceptance of an offer ‘subject to contract’ is true?

　　A、It binds the offeror

　　B、It binds neither party

　　C、It binds both parties

　　16 Su had just passed her driving test when she negligently drove into a pedestrian. What standard of care will Su be judged by?

　　A、 The objective standard of a newly qualified driver, lack of experience will be taken into account

　　B、The objective standard of a competent driver, lack of experience will not be taken into account

　　C、The subjective standard of actual ability

　　17 Which of the following are ordinary partnerships UNABLE to create in relation to their property?

　　A、Mortgages

　　B、Fixed charges

　　C、 Floating charges

　　18 Which of the following courts deal with civil law matters ONLY?

　　A、The Crown Court

　　B、 The magistrates’ court

　　C、 The county court

　　19 Jo promises to pay a reward for the return of her lost phone. Mia finds the phone and returns it to Jo. Which of the following types of consideration has Mia provided?

　　A、 Executed consideration

　　B、Executory consideration

　　C、 Past consideration

　　20 Which of the following requires court approval before the appointment of an administrator?

　　A、 Creditors

　　B、 Holders of floating charges

　　C、 The directors of the company

　　D、 The company itself

　　21 Which of the following is an English court NORMALLY bound to follow?

　　A、 An obiter statement of a higher court

　　B、 A ratio of a lower court

　　C、 A ratio of a court at the same level

　　D、 An obiter statement of the Supreme Court

　　22 Which of the following courts hear appeals from the magistrates’ court?

　　(1) County court

　　(2) Crown Court

　　(3) High Court

　　A、 (1) and (2) only

　　B、(2) and (3) only

　　C、 (1) and (3) only

　　D、 (1), (2) and (3)

　　23 Which of the following is NOT an automatic consequence of a compulsory winding up order against a public limited company?

　　A、 Transfers of shareholdings are suspended

　　B、 Liquidation is deemed to start on the date of the issuing of the order

　　C、 Directors cease to exercise any management power

　　D、 Employees are immediately dismissed

　　24 Which TWO of the following apply to shares of companies whose names end in ‘Ltd’?

　　(1) They may not be issued to non-members

　　(2) They may not be offered to the public

　　(3) They may not be transferred

　　(4) They may not be traded on the stock exchange

　　A、 (1) and (2)

　　B、 (2) and (3)

　　C、 (1) and (4)

　　D、 (2) and (4)

　　25 Which of the following statements regarding the age limits for serving as a director in a public limited company is true?

　　A、 Minimum age 16 years and no maximum age

　　B、 Minimum age 21 years and no maximum age

　　C、 Minimum age 21 years and maximum age 75 years

　　D、 Minimum age 16 years and maximum age 75 years

　　26 Which TWO of the following are private law actions?

　　(1) Those between individuals

　　(2) Those between business organisations

　　(3) Those between individuals and the state

　　A、 (1) and (2)

　　B、 (1) and (3)

　　C、 (2) and (3)

　　27 In which procedure does a liquidation committee operate?

　　(1) Compulsory liquidation

　　(2) A members’ voluntary liquidation

　　(3) A creditors’ voluntary liquidation

　　(4) Administration

　　A、 (1) and (2)

　　B、 (2) and (4)

　　C、 (1) and (3)

　　D、 (3) and (4)

　　28 The category of treasury shares comes into existence under which of the following circumstances?

　　A、 They are issued as such by a private company

　　B、 They are issued as such by a public company

　　C、 They are purchased as such by the exchequer

　　D、 They are purchased as such by a private or public company

　　29 Which of the following is NOT a source of English law?