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ICAEW LAW EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 150 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
What is the Unfair Contract Terms Act?Restricts the effectiveness of exclusion clauses in Business to Business contracts
- restricting liability for death/personal liability = void
- loss/damage from negligence = void unless reasonable
- title ownership in sale/hire = void
- doesn't apply to insurance or land transferal
What is considered in the reasonableness test for unfair contract terms?
- The strength of bargaining positions
- If inducement was offered
- If both parties knew of the clause
- Any misrepresentations 1 / 4
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What is the Consumer Rights Act?Protecting consumers from clauses that cause an significant imbalance to a consumers' rights and obligations. Should consider
- terms in intelligible language and prominence
- circumstances (i.e. undue influence)
- the nature of the contract
Examples of unfair consumer contract terms
- disproportionate compensation for failure to comply
- no opportunity to read the terms in advance
- allowance to change the terms
- allowance to change the price after the contract
- forcing the consumer to comply when the trader doesn't
What are the ways that agency can be created?
- Consent 2 / 4
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- Estoppel (third party is given impression of agency)
- Necessity (in emergency for principles benefit)
- Ratification (retrospectively)
When is agency of necessity valid?
- no way to contact the principle
- pressing need for action
- acted in the interests of the principle
- reasonable and prudent actions
- some prior contractual arrangement
When is agency by ratification valid?
- principle existed at time of act
- principle has legal capacity at time of act and ratification
- principle is named/identified at time of act
- ratified within a reasonable time
- principle communicates intention to ratify
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What are the duties of an agent?
CON APPS
- Confidence (secrecy)
- Obedience (to principles instruction)
- No conflict of interest
- Accountability
- Performance (obliged to perform if paid)
- Personal involvement (not delegated)
- Skill (reasonable competency and care)
What are the rights of an agent?
- Repaid expenses
- Agreed remuneration
- Exercise lien (pending payment of owed)
What are the three sources of authority?
- actual express (explicit)
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