All Flashcards
(60 cards)
What are the freedoms enjoyed in the UK
Of the person
Of association
To assemble and demonstrate
Of expression
From interference with property
How can parliament restrict someone’s tax planning
Anti avoidance legislation
Interpret legislation purposely
Published anti avoidance spotlights
What taxes is the crown subject to
VAT and stamp duty.
Not to income tax, CGT or IHT
What are some examples of illegality, irrationality and procedural impropriety for judicial review ? HMRC
Illegality: error of fact and law, unlawful delegation, failure to act
Irrationality: unreasonable conclusion
Procedural impropriety: failing to act on reasonable expectation, failure to give reasoning
What is a declaratory act
Create new law
What is an amending act
Amend existing law or repeal existing law. All finance acts are this type of
What is an enabling act
These acts bestow powers on other bodies to make law
What is a consolidation act
Bring statory law on a single matter into an existing law
What is the order of the Westminster stage
First reading
Second reading
Committee stage
Report stage
Third reading
What are patens
Rights over inventions
Registered patents last for 20 years
What are trademarks
Monopoly rights capable of being represented graphically
- valid for 10 years
What is copyright
Applicable to authors literary, artistically music or other works
Have neighbouring rights
Last 70 years
What formalities and when are following things transferred:
Chattels (in possession)
Land
Shares
Chattels: physical delivery
Land: must be in writing and land register must be altered
Shares: must be in writing of stock transfer form and share register changes
Where are the following property located:
Land
Chattels
Rights under debt
Shares
Goodwill
Land: where situated
Chattels: where physically located
Rights under debts: where debtor resides
Shares: where share registers is kept
Goodwill: where company carried on
What are freehold and leasehold estates actually called
Freehold: fee simple (usually absolute in possession)
Leasehold: terms of years absolute
What is a reversionary lease
Not in possession, starts at a later date
What is an estate contract
An interest in the land of the estate owner
Between initial contract and sale
What are promissory conditions
Obligation in a contract which one of the parties has the power to fulfill
What must a conditional contract include
Restricted right to withdraw
Duty not to prevent the condition precedent
Duty to make efforts to make condition precedent
What are liquidated and unliquidated damages
Liquidated are the amounts set by the parties
Unliquidated is the amount of loss found by the court
What are the three contracts within a contract of hire purchase
Contract of bailment (obtains possession and use)
Option contract
Contract of sale (if option exercised)
What are the four factors in the irreducible minima
Mutuality of obligations
Wage
Personal service
Control in a sufficient degree
What are the implied duties of an employee
Faithful service
Duty to obey lawful instruction
Due care and skill
Accounts for money
Personal service
Keep company secrets
What are implied duties of an employer
Indemnify employees
Reasonable remuneration
Provide work
Health and safety
Trust and confidence