ICAEW LAW QUESTIONS & ANSWERS
What is the UNCISG? - Answer -Contract law for parties in different countries
What is Riba - Answer -Concept of unlawful gain
Void Contract and factor - Answer -No contract and goods returned, illegality
Voidable Contract and factors - Answer -Can be set aside by injured party, lack of
capacity/absence of free will/misrepresentation
When is consideration not required? - Answer -Conveyancing, leases over 3 years,
unsupported promises
Consideration must be - Answer -sufficient but need not be adequate
What is privity of contract - Answer -Only person party to contract has enforceable
rights
3 ways contracts can be discharged - Answer -Performance, frustration, breach
Remedies for breach of contract - Answer -Damages (most likely), specific
performance, injunction
Key features of alternative dispute resolution - Answer -Decision lacks legal authority,
cheaper than court, held in private
What does UCTA apply to - Answer -Contracts between businesses, not
insurance/land/individuals or consumers
When is a term unfair - Answer -It causes significant imbalance between parties right
and obligation
What is agency by estoppel - Answer -Words/conduct of principal gives 3rd party the
impression of someone being the agent
Ostensible Authority - Answer -Created by principal either expressly or by inaction
Implied Authority - Answer -Do all usual or incidental things within the job
What is tort - Answer -Civil wrong with no pre-existing contractual relationship
Duty of care key factors - Answer -Reasonably foreseeable, proximity, fair just and
reasonable, public policy
