1. Business Law and Practice (BSL) MCQ Questions

Assessment objectives

Candidates are required to apply relevant core legal principles and rules appropriately and effectively, at the level of a competent newly qualified solicitor in practice, to realistic client-based and ethical problems and situations in the following areas:

Starting a new business through the vehicle of a company, partnership, LLP or as a sole trader.
The management of a business and company decision making to ensure compliance with statutory and other legal requirements.
The interests, rights, obligations and powers of stakeholders in a business.
Financing a business.
Taxation of a business and its stakeholders.
The termination of a solvent business, corporate insolvency and personal bankruptcy.

Candidates must demonstrate their ability to act honestly and with integrity and in accordance with the SoSC, the SRA Principles and the Code of Conduct.

Candidates are expected to draw upon and apply knowledge from the areas of law and practice set out below.

Questions may draw on any combination of the subject areas within this FLK assessment 1 which might be encountered in practice.

1. Business Law and Practice (BSL)

Assessment objectives

Subtopics

Area 1. Business Structures and Entities

Area 2. Company Law

Area 3. Business Transactions & Commercial Contracts

Area 4. Financing & Security

Area 5. Business Taxation

Area 6. Employment Law in Business

Area 7. Business Regulation & Compliance