Corporate and Business Law (Eng)
ACCA Paper F4

Format of the Paper
10 compulsory questions each worth 10 marks consisting of: • 7 factual questions (knowledge) • 3 scenario based questions (application).

Exam approach – scenario based questions
• Follow ISAC approach: Identify the legal issues State the relevant law Apply the law Conclude

Core Areas of Syllabus
• • • • Essential elements of the legal system The law of obligations Employment law The formation and constitution of business organisations Capital and the financing of companies Management, administration and regulation of companies Legal implications of companies in difficulty or in crisis Governance and ethical issues relating to business

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• •

Chapter

1

The English legal system

The English legal system
• Criminal law vs Civil law

The main English civil courts
• • • • House of Lords Court of Appeal County Court High Court of Justice

Other courts
• • • • Magistrates’ Court Employment Appeal Tribunal European Court of Justice European Court of Human Rights

Chapter

2

Sources of English law

Sources of English Law

Case law
Common law

Legislation
Direct legislation Indirect legislation

Equity

Sources of English Law
• Literal rule • Golden rule • Mischief rule

Chapter

3

Human rights

Human Rights Act 1998
Purpose

Derogation

Human Rights Act 1998

Convention law

Incompatible with convention

Chapter

4

Formation of contracts

Definition of contract
A valid contract is a legally binding agreement, formed by the mutual consent of two parties.

Essentials of a contract
Three essential elements: • Agreement made by offer and acceptance • Consideration • Intention to create legal relations

Definition of offer
An offer is a definite and unequivocal statement of willingness to be bound on specified