金融英语中级法律-2及答案解析.doc

1、金融英语中级法律-2 及答案解析(总分：164.00，做题时间：90 分钟)一、BSECTION ONE/B(总题数：10，分数：20.00)1.List any 5 illegal contracts strictly so called.（分数：2.00）填空项 1:_2.Name 3 ways in which an offer of a contract will expire.（分数：2.00）填空项 1:_3.What is meant by past consideration?（分数：2.00）填空项 1:_4.What is meant by implied terms of

2、 a contract?（分数：2.00）填空项 1:_5.Name the types of actionable misrepresentation.（分数：2.00）填空项 1:_6.Name 2 equitable remedies at time of breach of contract by one party.（分数：2.00）填空项 1:_7.What is an inchoate instrument?（分数：2.00）填空项 1:_8.Who is the drawee of a cheque?（分数：2.00）填空项 1:_9.What type of indorsem

3、ent is the following? “Pay John on his delivery of documents of title to Hong Kong Bank. Signed: Wang“（分数：2.00）填空项 1:_10.Is “indirect injury“ a nuisance or trespass?（分数：2.00）填空项 1:_二、BSECTION TWO/B(总题数：18，分数：144.00)11.A prohibitory injunction orders the defendant to do something positive.（分数：2.00）A.

4、正确B.错误12.The employer is vicariously liable for a tort committed by the employee acting in a course of employment.（分数：2.00）A.正确B.错误13.A person can exclude or restrict his liability for personal injury resulting from negligence by express consent.（分数：2.00）A.正确B.错误14.Personal property consists of all

5、movable property except property recoverable and /or enforceable by taking an action.（分数：2.00）A.正确B.错误15.The mortgagor may, where he is in possession of the land, grant leases to third parties subject to any special agreement to the contrary.（分数：2.00）A.正确B.错误16.The most extensive right allowed by th

6、e law of dealing with a thing to the exclusion of all others is called possession.（分数：2.00）A.正确B.错误17.An indorser may negative or limit his liability of repayment to the holder by an express insertion to that effect.（分数：2.00）A.正确B.错误18.A drawee of a bill of exchange has an obligation to pay the bill

7、分数：2.00）A.正确B.错误19.Certificates of deposits are not negotiable instruments.（分数：2.00）A.正确B.错误20.A bill of exchange which is drawn in favour of a fictitious or non-existing person is not valid.（分数：2.00）A.正确B.错误21.A cheque which reads “Pay cash“ is a valid cheque.（分数：2.00）A.正确B.错误22.Minors are genera

8、lly fully liable for their tortious actions.（分数：2.00）A.正确B.错误23.(a)Define a promissory note. (b)State whether each of the following negotiable instruments is valid. (i) A bill reads “pay 1,000 out of money to be received by you from Mr. Gao“. (ii) A bill of exchange reads “pay 10,000, charge the sam

9、e to the sale proceeds of 100 cartons of toys shipped per SS Mingzen“. (iii) A bill of exchange which is stated as being payable on arrival of goods at a specified port. (iv) Is a bill of exchange which is payable on a persons marriage valid? (v) A bill of exchange is drawn in favour of a minor, a p

10、erson below the age of eighteen. (vi) A bill of exchange reads “we hereby request you to pay on our account to the order of Gao1,000“. (vii) A bill of exchange reads “pay to our order the sum of 5,000 in accordance with your undertaking authorized through Bank of Hongkong“. (viii) Is a cheque which

11、reads “pay order“ valid? (ix) A promissory note reads “I promise to pay on or before Dec 1st, 1998 Mr. Gao or order the sum of 10,000 only for value received. Signed“. (x) Is a promissory note which reads “to be paid back in full by 1 July, 1988“ valid?（分数：20.00）_24.Peter wants to buy a comer store.

12、 When negotiating in January, he was told by David, the owner of the store that the business of the store was very good and the average net profit from the store was100,000 per month for the last year. However, in March, a supermarket opened near the store and the business at the store became very s

13、low. Then a contract for the sale of the store was signed between them, all the time David didnt mention anything to Peter. Could Peter make a claim against David for misrepresentation. Advise Peter supported by cases.（分数：20.00）_25.In January, 1992, Wang rented a house for three years at a monthly r

14、ent of 1,000. Wang became unemployed in August, 1992 and wanted to move out. Jone then orally agreed to reduce the monthly rent to half. In January, 1993 Wang was informed to pay the amount of rent he had paid before. Could Wang insist on paying the half rent until expiration of the contract? Give r

15、easons for your answer.（分数：20.00）_26.Define an indorsement of bill of exchange. What are the types of liability of an indorser?（分数：20.00）_27.Write short notes on: (a) vicarious liability; (b) negligence.（分数：20.00）_28.Briefly explain the following four ways that personal property may be used as secur

16、ity for debts: (a) Lien (b) Mortgage (c) Pledge (d) Charge（分数：20.00）_金融英语中级法律-2 答案解析(总分：164.00，做题时间：90 分钟)一、BSECTION ONE/B(总题数：10，分数：20.00)1.List any 5 illegal contracts strictly so called.（分数：2.00）填空项 1:_ （正确答案：Commit a crime, a tort or a fraud on a third party;）解析：are sexually immoral; are prejudi

17、cial to the public safety; are prejudicial to the administration of justice; tend to promote corruption in public life; are designed to defraud the revenue; are prohibited by statute; tend to defraud or deceive a third party.2.Name 3 ways in which an offer of a contract will expire.（分数：2.00）填空项 1:_

18、正确答案：By revocation of the offeror;）解析：By rejection of the offeree; By lapse of time of the offer.3.What is meant by past consideration?（分数：2.00）填空项 1:_ （正确答案：An act as consideration was performed before any promise of）解析：reward is called past consideration; It is not a valid consideration.4.What is

19、 meant by implied terms of a contract?（分数：2.00）填空项 1:_ （正确答案：Terms which are not expressly set out in contract;）解析：But which are implied in fact or law or by custom.5.Name the types of actionable misrepresentation.（分数：2.00）填空项 1:_ （正确答案：Fraudulent misrepresentation;）解析：Innocent or negligent misrepre

20、sentation.6.Name 2 equitable remedies at time of breach of contract by one party.（分数：2.00）填空项 1:_ （正确答案：Specific performance;）解析：Injunction.7.What is an inchoate instrument?（分数：2.00）填空项 1:_ （正确答案：An negotiable instrument which does not contain one or more elements required by law to constitute it.）解

21、析：8.Who is the drawee of a cheque?（分数：2.00）填空项 1:_ （正确答案：A bank.）解析：9.What type of indorsement is the following? “Pay John on his delivery of documents of title to Hong Kong Bank. Signed: Wang“（分数：2.00）填空项 1:_ （正确答案：Conditional indorsement.）解析：10.Is “indirect injury“ a nuisance or trespass?（分数：2.00）

22、填空项 1:_ （正确答案：A nuisance.）解析：二、BSECTION TWO/B(总题数：18，分数：144.00)11.A prohibitory injunction orders the defendant to do something positive.（分数：2.00）A.正确B.错误 解析：A prohibitory injunction stops the defendant to do something positive.12.The employer is vicariously liable for a tort committed by the employ

23、ee acting in a course of employment.（分数：2.00）A.正确 B.错误解析：13.A person can exclude or restrict his liability for personal injury resulting from negligence by express consent.（分数：2.00）A.正确B.错误 解析：A person can not exclude or restrict his liability for personal injury resulting from negligence by express

24、 consent.14.Personal property consists of all movable property except property recoverable and /or enforceable by taking an action.（分数：2.00）A.正确B.错误 解析：Personal property consists of all movable property includingproperty recoverable and /or enforceable by taking an action.15.The mortgagor may, where

25、 he is in possession of the land, grant leases to third parties subject to any special agreement to the contrary.（分数：2.00）A.正确 B.错误解析：16.The most extensive right allowed by the law of dealing with a thing to the exclusion of all others is called possession.（分数：2.00）A.正确B.错误 解析：The most extensive rig

26、ht allowed by the law of dealing with a thing to the exclusion of all others is called ownership.17.An indorser may negative or limit his liability of repayment to the holder by an express insertion to that effect.（分数：2.00）A.正确 B.错误解析：18.A drawee of a bill of exchange has an obligation to pay the bi

27、ll.（分数：2.00）A.正确B.错误 解析：A drawee of a bill of exchange has an obligation to pay the bill only when he becomes an acceptor. No person is liable to a bill if he has not signed it.19.Certificates of deposits are not negotiable instruments.（分数：2.00）A.正确B.错误 解析：Certificates of deposits are negotiable ins

28、truments, providing they are in a deliverable state.20.A bill of exchange which is drawn in favour of a fictitious or non-existing person is not valid.（分数：2.00）A.正确B.错误 解析：A bill of exchange which is drawn in favour of a fictitious or non-existing person is still valid, it may be, treated as payable

29、 to bearer.21.A cheque which reads “Pay cash“ is a valid cheque.（分数：2.00）A.正确B.错误 解析：A cheque which reads “Pay cash“ is not a valid cheque.22.Minors are generally fully liable for their tortious actions.（分数：2.00）A.正确 B.错误解析：23.(a)Define a promissory note. (b)State whether each of the following negot

30、iable instruments is valid. (i) A bill reads “pay 1,000 out of money to be received by you from Mr. Gao“. (ii) A bill of exchange reads “pay 10,000, charge the same to the sale proceeds of 100 cartons of toys shipped per SS Mingzen“. (iii) A bill of exchange which is stated as being payable on arriv

31、al of goods at a specified port. (iv) Is a bill of exchange which is payable on a persons marriage valid? (v) A bill of exchange is drawn in favour of a minor, a person below the age of eighteen. (vi) A bill of exchange reads “we hereby request you to pay on our account to the order of Gao1,000“. (v

32、ii) A bill of exchange reads “pay to our order the sum of 5,000 in accordance with your undertaking authorized through Bank of Hongkong“. (viii) Is a cheque which reads “pay order“ valid? (ix) A promissory note reads “I promise to pay on or before Dec 1st, 1998 Mr. Gao or order the sum of 10,000 onl

33、y for value received. Signed“. (x) Is a promissory note which reads “to be paid back in full by 1 July, 1988“ valid?（分数：20.00）_正确答案：()解析：(a) A promissory note is defined as an unconditional promise in writing made by one person to another signed by the maker, engaging to pay, on demand or at a fixed

34、 or determinable future time, a sum certain in money, to, or to the order of, a specified person or to bearer. (b) (i) Not valid (ii) Valid (iii) Not valid (iv) Not valid (v) Valid (vi) Not valid (vii) Not valid (viii) Valid (ix) Valid (x) Not valid24.Peter wants to buy a comer store. When negotiati

35、ng in January, he was told by David, the owner of the store that the business of the store was very good and the average net profit from the store was100,000 per month for the last year. However, in March, a supermarket opened near the store and the business at the store became very slow. Then a con

36、tract for the sale of the store was signed between them, all the time David didnt mention anything to Peter. Could Peter make a claim against David for misrepresentation. Advise Peter supported by cases.（分数：20.00）_正确答案：()解析：There are the factors that affect the validity of a contract, misrepresentat

37、ion is one of them. A representation made by one party to another to induce him to enter a contract must be a positive and true statement of some existing facts or past events, otherwise, it shall constitute a misrepresentation, which is misleading and induces other to enter into the contract, and m

38、ay amount to invalidity of the contract. In With v.OFlanagan (1936), where the defendant, who wished to sell his practice, informed the plaintiff that the income from the practice was 2,000. Five months later when the contract was signed the income had fallen considerably due to the defendants illne

39、ss and no mention of this fact was made to the plaintiff. The plaintiff claimed rescission of the contract. It was held that he could not rescind as there was misrepresentation. In Gordon v.Selico Co. Ltd.(1986), where a flat in a building which had been converted by a developer was taken by the pla

40、intiff on a 99-year lease. Soon after he moved in, dry ret was discovered. It was held that deliberate concealment of the dry rot by the developer could amount to fraudulent misrepresentation, therefore, damages were awarded to the plaintiff. Its a general rule that mere silence does not normally am

41、ount to representation as well as misrepresentation, except in the case where a statement, true when it is made, subsequently becomes false before the conclusion of the contract. Here the prior representation concerning the income of the store stated by David has become untrue at the time the contra

42、ct was signed, due to the opening of the supermarket. David, therefore, take the obligation to correct his former representation, and the silence here amounts to misrepresentation. Peter was induced by and relied on the misrepresentation and entered into the contract, thus he could make a claim agai

43、nst David for misrepresentation.25.In January, 1992, Wang rented a house for three years at a monthly rent of 1,000. Wang became unemployed in August, 1992 and wanted to move out. Jone then orally agreed to reduce the monthly rent to half. In January, 1993 Wang was informed to pay the amount of rent

44、 he had paid before. Could Wang insist on paying the half rent until expiration of the contract? Give reasons for your answer.（分数：20.00）_正确答案：()解析：It is a general rule in common law that a contractural promise is may legally binding if it is made in return for another promise or an act. Otherwise, t

45、he promisor shall not be bound by his promise. Aiming to prevent unfair consequence due to withdrawing of the promise by promisor at some situations, the doctrine of equitable estoppel or promissory was developed: a promise made by the promisor intended to create legal relations and to be acted upon

46、 by the promisee, may be enforced by the promisee, despite that he gave no consideration for it, if in fact he relied upon it to his detriment. The promisor is prevented (estopped) from denying his promise. The court applies this doctrine only when the following has been proved: (i) he has altered hi