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LW A Essential elements of legal systems

Written by Saad Rahman (ACCA)

7 ACCA Corporate and Business Law questions with answers and explanations.

Printable worksheet with answer key

All questions with answers
  1. Which statement correctly describes criminal law?

    • 1 It settles private disputes between two companies
    • 2 It applies only to individuals, not companies
    • 3 The state prosecutes offences against the public and punishes the offender
    • 4 It gives damages to the injured party only
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    Correct answer: The state prosecutes offences against the public and punishes the offender

    Criminal law deals with offences against the state. Civil law deals with disputes between private parties.

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  2. In civil cases, the usual standard of proof is:

    • 1 Proof by two independent witnesses
    • 2 The balance of probabilities
    • 3 Absolute certainty
    • 4 Beyond reasonable doubt
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    Correct answer: The balance of probabilities

    Criminal cases need proof beyond reasonable doubt.

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  3. The doctrine of the separation of powers divides state power between:

    • 1 The banks, the courts and the police
    • 2 The public, private and voluntary sectors
    • 3 The legislature, the executive and the judiciary
    • 4 Local and national companies
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    Correct answer: The legislature, the executive and the judiciary

    The aim is to stop any one body having complete control.

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  4. Which legal system relies mainly on judicial precedent?

    • 1 Codified law only
    • 2 Common law
    • 3 Sharia law
    • 4 Civil law
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    Correct answer: Common law

    Common law developed through court decisions. Civil law systems rely on codes.

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  5. What is a model law?

    • 1 A court decision with binding force on all courts
    • 2 A set of private contract terms
    • 3 A treaty that automatically binds all states
    • 4 A template that states can adopt into their own legislation
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    Correct answer: A template that states can adopt into their own legislation

    A model law is not binding until a state adopts it.

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  6. Which of these is an advantage of arbitration over court proceedings?

    • 1 The process is private and the parties can choose the arbitrators
    • 2 The decision is always appealable on the facts
    • 3 The outcome is not binding
    • 4 It is always cheaper than a court case
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    Correct answer: The process is private and the parties can choose the arbitrators

    Privacy and expert arbitrators are the usual advantages. Rights of appeal are limited.

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  7. The decision of an arbitral tribunal is called:

    • 1 A statute
    • 2 A precedent
    • 3 A judgment
    • 4 An award
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    Correct answer: An award

    Courts give judgments and tribunals make awards.

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