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Wye Ltd has ordered goods from ABC plc and the directors of Wye Ltd have guaranteed that Wye Ltd will pay the agreed sum within one month of the delivery of the goods.

Which of the following is correct?

(i) The contract is between Wye Ltd and ABC plc and the directors cannot be forced to pay the amount due in any circumstances.

(ii) A contract of guarantee is only enforceable if it is evidenced in writing.

(iii) The directors of Wye Ltd can be forced to honor the guarantee in the event of Wye Ltd not paying the amount due.

Options:

(i) only

(ii) only

(i) and (ii) only

(ii) and (iii) only

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Question 2

B agreed in his contract that he would not work for a competitor of Gee Ltd for a period of 12 months after leaving the company's employment. On leaving Gee Ltd, B worked for Zed Ltd, a competitor of Gee Ltd. If the restriction in B's contract with Gee Ltd should be found to be reasonable, which of the following remedies is Gee Ltd entitled to?

(i) A decree of specific performance forcing B to comply with his contract with Gee Ltd.

(ii) Damages in respect of any loss caused by B's breach of contract.

(iii) An injunction to stop B working for Zed Ltd.

Options:

(i) only

(i) and (ii) only

(ii) and (iii) only

(i), (ii) and (iii)

Question 3

In relation to registering a company limited by shares, which of the following is correct?

Options:

If the promoters fail to submit Articles of Association to the Registrar of Companies, the company cannot be registered.

If the promoters fail to submit Articles of Association to the Registrar of Companies, the provisions of Table A automatically apply.

If the promoters fail to submit Articles of Association to the Registrar of Companies, the documents will be returned to the promoters with a request for Articles to be submitted.

If the promoters fail to submit Articles of Association to the Registrar of Companies, the company will be registered but will have no Articles of Association applicable to it.

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