SQE1 · topic drill
Business Law and Practice drill
Business structures, company decision-making, directors' duties, shareholder remedies, finance and security, insolvency, and the taxation of businesses and their owners.
40questions in the bank
20per sitting, shuffled
—untimed
The answer and explanation appear after each question. Each sitting draws a fresh 20 from the bank, so run it again for new ones.
What is in this drill
Scope: FLK1, Chapter 1: Business Law and Practice
A sample question
Ali, Bea and Cy have run a cafe together as partners for three years. They never agreed a fixed term and have no written partnership agreement. Bea wants to leave the business. What is the effect of Bea giving the others written notice that she is leaving?
- The partnership is dissolved, as it is a partnership at will.
- Nothing, unless Ali and Cy both consent to her leaving.
- Nothing, unless she obtains a court order for dissolution.
- Bea retires and the partnership continues automatically between Ali and Cy.
- Bea leaves three months after her notice, the statutory notice period.
Marked when you take the drill; the explanation appears in your review.