Partnerships may be terminated by
Bankruptcy
Court order
Agreement
Can you have more than one domicile
No
What does the word ‘issue’ in relation to shares mean
Unissued shares are applied for, allotted and finally registered
If a single partner is sued, do creditors have a right of recovery from the other partners
Yes
Membership of which body will entitle a tax adviser to help a client to set up a stakeholder pension scheme?
The Institute of Chartered Accountants in England and Wales
If a person makes a concurrent Will, this means that:
There are two valid Wills in place at once
Functions of the crown:
Protect the realm
Formulate policies
Declare the rules of common law
A public company may only make a distribution if its net assets are, at the time not less than the aggregate of its..
Called up share capital
Complete the following sentence.
‘A breach of trust arises where……………………………………… or because they exercise their powers improperly.’
trustees fail to carry out their duties in accordance with the terms of the trust instrument or the law
Rules of a tenancy at sufference
The tenant must continue to pay rent, no notice has to be given if the landlord wants the tenant to leave
What does the rule against perpetuities concern?
The length of time that property may be in the trust
Unties of joint tenants
Unity of time
Unity of interest
Unity of possession
Condition precedent
An event or situation that must occur before a contract becomes effective
Inter vivos gift
between the living
Kelly recently purchased a house in the Midlands. She owns a driveway to the property which a neighbour has a right of access over.
Kelly has a servient tenement. Her neighbour has the dominant tenement.
an interest pur autre vie
When a beneficiary enjoys their interest for as long as someone else is alive
Can a public company have just one member
Yes
Stare decisis
Doctrine of precedent
types of extra-statutory material published by HMRC
Tax Bulletins
Statements of Practice
Press Releases
Vicarious liability
An employer may be liable for the acts of an employee committed in the course of employment.
