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LPC Law Notes Business Law and Practice Notes

Ws1 Prep Task Notes

Updated Ws1 Prep Task Notes

Business Law and Practice Notes

Business Law and Practice

Approximately 649 pages

A collection of the best LPC BLP notes the director of Oxbridge Notes (an Oxford law graduate) could find after combing through dozens of LPC samples from outstanding students with the highest results in England and carefully evaluating each on accuracy, formatting, logical structure, spelling/grammar, conciseness and "wow-factor".

In short these are what we believe to be the strongest set of Business Law and Practice notes available in the UK this year. This collection of notes is fully updat...

The following is a more accessible plain text extract of the PDF sample above, taken from our Business Law and Practice Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:

Scenario 1

Situation Analysis:

  1. Alan first approached us in relation to:

*his investment in Warwick Biotechnologies Limited

*his appointment as Director of Warwick Biotechnologies Limited

  1. We then started to act for Warwick in relation to:

*employment issues

* as instructed by Alan

  1. Alan contacts us now because Chairman in Warwick wants to fire him

Alan, our firm will not be able to act for you or advice you in relation to your potential removal from Warwick Biosciences Limited. We are constrained by the SRA Code of Conduct, specifically:

Principles: 4 (best interest of client), 6(behave trustworthily for the public) and 7(comply with the law)

The conflict is confirmed by the fact that Warwick will want Alan to take a small remedial amount and Alan will want to get a large/full amount from Warwick. A firm cannot guarantee to act in the best interest of both clients.

O(3.5) states that we should not act where there is a client contact (between Warwick and Alan), or a significant risk of a client conflict unless either of the two exemptions apply.

Neither the exception where the clients have a substantially common interest (O(3.6) or where the clients are competing for the same objective (O(3.7)) will apply. Both clients have opposite objectives (IB(3.2) and (3.3)). Arguably, the clients could not be represented even-handedly (IB(3.5))

Scenario 2

Situation Analysis:

  1. Grand First Bank plc is a longstanding client

  2. Grand First Bank plc wants us to draft a loan to McKenna Design Ltd.

  3. Tom McKenna (โ€œTMโ€) is sole director of McKenna D as well as one of shareholders

  4. We have a closed file for TM and it appears to be the same person (same address)

  5. WE advised TM on incorporation of his sole trader business successfully,

  6. TM broke off contact with us

  7. Accounts ledgers show outstanding bill of 637.50

  8. No apparent conflict of interest

Principles: 2 (Act with integrity), 4(Best interest), 5 (standard of service), 6(public trust), 7(regulations)

As we offered advice to TM before we owe duty of confidentiality to him. However, we also owe duty of disclosure to Grand First Bank. Nevertheless, confidentiality supersedes disclosure (O4.3).

O(4.4) states that I should not act for Grand First Bank in a matter where they have an interest adverse to McKenna for whom you hold confidential information which is material to GFB in that matter, unless that confidential information can be protected by the use of safeguards. GFB must give informed consent by writing.

IB 4.5

IB 4.7

Conclude: W could act if Safeguards are put in place and if it is Reasonable to act (This applies usually to large firms only with the capacity to place safeguards). There would be a risk of Professional Embarrassment if the Bank finds out that we should not have acted because we were keeping relevant information from them regarding TM. Therefore, it is better to inform the client that we CANNOT ACT on this matter. (The bank will probably understand that somethingโ€™s up)...

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