Business Law

What does the accountability principle require organisations to do?

Demonstrate compliance with data protection

Within what time period should breaches be reported to affected individuals?

72 hours

In criminal law, who brings the case against the accused?

Prosecution

Exemptions from the Act include processing for?

National security and crime

What happens after directors recommend shares?

Has to be approved by shareholders by ordinary resolution.

If an agent has no authority, who does liability for breach of warranty of authority fall on?

Agent

What is the maximum imprisonment under the Bribery Act for main offences?

10 years

What is quantum meruit?

Allows recovery for partial performance when prevented from completing.

How many months do private companies have to file accounts?

9 months.

How many years of imprisonment can insider dealing penalty lead to?

7 years.

How many days does special notice for removing an auditor require?

28 days

How many years can a sale at undervalue be set aside within?

2 years before liquidation.

Who does CVA primarily bind?

Unsecured creditors

Unsecured creditors

Members holding at least what percentage can requisition a general meeting?

5%

The period for statutory minimum notice is?

1 week per completed year up to 12 weeks

What does ratification make of the principal?

Liable and entitled under the contract from the date it was made

When must an employer provide a written statement of particulars?

On or before the day employment starts

What does the “last shot” rule typically apply to?

Battle of forms

What do pre-emption rights not apply to?

Employee share schemes

What can the ICO do?

Issue fines and require corrective actions

What is the Integrity and confidentiality principle about?

Ensuring security against loss or misuse

What can the share premium account can be used for?

Paying expenses/commission of share issue or bonus shares.

What is specific performance generally available for?

Unique goods or property

Which Incoterm places max obligations on the seller?

DDP