FE1 Exam Thread (Read 1st post!) NOTICE: YOU MAY SWAP EXAM GRIDS

iamanengine

lisac223 wrote: »

Hoping someone can answer this for me bc it's been bugging me for ages... In property is a spouse entitled to take the LRS in addition to any property left under the will or is it only exercisable if they were effectively left out of the will? Thank you!

The spouse is entitled to take the LRS over a gift (right of election). However, S.56 allows the spouse to compel the executor to take the house as part of the LRS. If the house is worth more than the LRS the spouse can raise the difference or (S.57) if they can rely on a child's share if the spouse is a trustee of the child and the child will get part of the ownership in the property. If the house is worth less than the LRS they get the house plus the remainder (LRS minus the value of the house)

sapphire309

laurar2019 wrote: »

What is the most important to cover in company? any tips? help a fellow out xx

I would prioritise Directors’ Duties, Restriction of Directors, SLP, Corporate Borrowing, Shareholder Remedies (s.212), Winding Up and Distribution of Assets, Share Transfers

lisac223

iamanengine wrote: »

The spouse is entitled to take the LRS over a gift (right of election). However, S.56 allows the spouse to compel the executor to take the house as part of the LRS. If the house is worth more than the LRS the spouse can raise the difference or (S.57) if they can rely on a child's share if the spouse is a trustee of the child and the child will get part of the ownership in the property. If the house is worth less than the LRS they get the house plus the remainder (LRS minus the value of the house)

Oh okay and say if a spouse is left something in the will can they take the LRS as well or is it just instead of?

Gunslinger92

sapphire309 wrote: »

Has anyone any case law on SAP? My notes don't have any cases, and the Company Nutshells doesn't either. I notice in the Oct 2017 essay Q on SAP he states "…you must cite all relevant case and statute law", but fails to include any cases in the examiners' report!

I don't either, nor do the couple of sample answers I have on it. So I'm not too concerned!

iamanengine

lisac223 wrote: »

Oh okay and say if a spouse is left something in the will can they take the LRS as well or is it just instead of?

If they are just left a gift they can either take the gift or take the LRS. If a gift is said to be expressly in addition to the LRS then they can take both.

lisac223

iamanengine wrote: »

If they are just left a gift they can either take the gift or take the LRS. If a gift is said to be expressly in addition to the LRS then they can take both.

Sound got it thank you!

Smiley283

lisac223 wrote: »

Hoping someone can answer this for me bc it's been bugging me for ages... In property is a spouse entitled to take the LRS in addition to any property left under the will or is it only exercisable if they were effectively left out of the will? Thank you!

If a gift under the will is expressly said to be taken in addition to the spouses statutory entitlement then they're entitled to both..

where a gift isnt expressly said to be taken additionally in the will it will be be included in the LRS.

So if the latter occurs, the spouse can choose to either take the gift or the LRS. If they don't choose one or the other then they will get the gift set out in the will regardless of insignificant the value of the gift is.

O'dwyer v Keegan illustrates that if the testator makes no provision for a spouse in their will the spouse automatically takes the LRS

Please let me know if I am wrong!

iamanengine

Smiley283 wrote: »

where a gift isnt expressly said to be taken additionally in the will it will be be included in the LRS.

My understanding is that the gift doesn't become part of the LRS. It's either the gift OR the LRS unless it's expressly stated they are entitled to both.

S.114(2) provides if a gift is left to the spouse in the will, the spouse can elect to choose between the gift or the LRS.

However, if I'm wrong please also let me know!!

laurar2019

sapphire309 wrote: »

I would prioritise Directors’ Duties, Restriction of Directors, SLP, Corporate Borrowing, Shareholder Remedies (s.212), Winding Up and Distribution of Assets, Share Transfers

Thank you

laurar2019

what is corporate borrowing exactly in rln to company law?

lisac223

iamanengine wrote: »

My understanding is that the gift doesn't become part of the LRS. It's either the gift OR the LRS unless it's expressly stated they are entitled to both.

S.114(2) provides if a gift is left to the spouse in the will, the spouse can elect to choose between the gift or the LRS.

However, if I'm wrong please also let me know!!

This was why I was confused because the two sections seem to totally contradict each other:

s(114): In any other case, a devise or bequest in a will to a spouse shall be deemed to have been intended by the testator to be in satisfaction of the share as a legal right of the spouse.

s(115): Where, under the will of a deceased person who dies wholly testate, there is a devise or bequest to a spouse, the spouse may elect to take either that devise or bequest or the share to which he is entitled as a legal right.

So s(114) says the bequest is deemed to be in satisfaction of the LRS and s(115) says the spouse can choose!

Emb362

Hi all,

I am just wondering if anyone might have up to date grids for tort, criminal, constitutional and contract?

This is my first time writing and unfortunately I have nothing to trade, except my sincere thanks!

iamanengine

lisac223 wrote: »

This was why I was confused because the two sections seem to totally contradict each other:

s(114): In any other case, a devise or bequest in a will to a spouse shall be deemed to have been intended by the testator to be in satisfaction of the share as a legal right of the spouse.

s(115): Where, under the will of a deceased person who dies wholly testate, there is a devise or bequest to a spouse, the spouse may elect to take either that devise or bequest or the share to which he is entitled as a legal right.

So s(114) says the bequest is deemed to be in satisfaction of the LRS and s(115) says the spouse can choose!

Hmm, now I'm confused

To me that means - S.114 - If there is a gift in the will, that will satisfy the LRS requirement.
S.115 - However, the spouse can choose between the gift or the LRS.

But I'm now wondering. Say the deceased leaves a gift, the spouse takes the LRS instead, what happens to the gift?

z6vm1dobfnca3x

iamanengine wrote: »

But I'm now wondering. Say the deceased leaves a gift, the spouse takes the LRS instead, what happens to the gift?

It will go back to the deceased's estate.

bigtophat13

iamanengine wrote: »

Hmm, now I'm confused

To me that means - S.114 - If there is a gift in the will, that will satisfy the LRS requirement.
S.115 - However, the spouse can choose between the gift or the LRS.

But I'm now wondering. Say the deceased leaves a gift, the spouse takes the LRS instead, what happens to the gift?

Kyree Bumpy Shrimp wrote: »

It will go back to the deceased's estate.

Gift stays in the estate as far as I'm aware, I'm sure there are probably informal arrangements made that if you wanted your husbands cabinet of drawers as they were a wedding gift from his great aunt hilda who you were so close to you can arrange for your LRS minus that value and take it as well but by the law it's either or.

Gotta remember to get the LRS and that you'll usually or at least often have to liquidate assets and what not.

z6vm1dobfnca3x

So I have criminal and property on the 13th and 14th.

My only other exam is equity which is on the 20th.

Do you guys think it's safe to just focus on criminal and property only for the next 5 days and then pick up Equity again when they're finished?

(Feeling fairly well prepared for equity).

lisac223

Kyree Bumpy Shrimp wrote: »

So I have criminal and property on the 13th and 14th.

My only other exam is equity which is on the 20th.

Do you guys think it's safe to just focus on criminal and property only for the next 5 days and then pick up Equity again when they're finished?

(Feeling fairly well prepared for equity).

That's what I'm doing I have the same as you plus tort on Monday and I haven't looked at equity for a couple of weeks. I figure 4 full days of equity should be fine as I've kept up with notes just need to learn off

bigtophat13

Kyree Bumpy Shrimp wrote: »

So I have criminal and property on the 13th and 14th.

My only other exam is equity which is on the 20th.

Do you guys think it's safe to just focus on criminal and property only for the next 5 days and then pick up Equity again when they're finished?

(Feeling fairly well prepared for equity).

Absolutely, if you've had stuff in your head once before a day or 2 will even do it. I've 4 in 5 days and I'm working on knowing it once this week and if I've known it now it'll come back the night before too. You'll be all good!

z6vm1dobfnca3x

lisac223 wrote: »

That's what I'm doing I have the same as you plus tort on Monday and I haven't looked at equity for a couple of weeks. I figure 4 full days of equity should be fine as I've kept up with notes just need to learn off

bigtophat13 wrote: »

Absolutely, if you've had stuff in your head once before a day or 2 will even do it. I've 4 in 5 days and I'm working on knowing it once this week and if I've known it now it'll come back the night before too. You'll be all good!

Nice one. Thanks guys.

There should really be a 9th FE-1 exam - "How to manage your study for the other 8" :pac:

Vegetarian2017

Anyone esle leaving out liquidation/winding up for company? Doing receivership. Just too big to cover.

I have as follows
ultra vires
slp
corp authority
shareholder protection
directors
restrict plus disq
legislative trans payments
borrowing
receivership
realisation of assets

safe?

Gomzu

Vegetarian2017 wrote: »

Anyone esle leaving out liquidation/winding up for company? Doing receivership. Just too big to cover.

I was considering doing that, but if you go back a few pages people give very compelling reasons to cover winding up/ distribution assets.

Vegetarian2017

Gomzu wrote:

I was considering doing that, but if you go back a few pages people give very compelling reasons to cover winding up/ distribution assets.

No i know but it is huge and sorry i edited my post above i think i won't be short on questions covering all those topics listed above ? I think (open to correction)?

Gomzu

Vegetarian2017 wrote: »

No i know but it is huge and sorry i edited my post above i think i won't be short on questions covering all those topics listed above ? I think (open to correction)?

It looks very similar to what I’m doing anyway!!

nimcdona

I don't see myself having the time to cover the courts and criminal procedures topic, can someone tell me if this would be a big mistake or if you could still get by ok without it?

LawGirl3434

nimcdona wrote: »

I don't see myself having the time to cover the courts and criminal procedures topic, can someone tell me if this would be a big mistake or if you could still get by ok without it?

I think it really depends on how much else you're covering. I mean it does come up, but equally isn't the most important topic in terms of prioritising. If you're covering most of the course, you should be good to leave it out.

In my opinion!

FE1s2018

Anyone have advice for someone who has studied most of the constitutional course- learned off cases etc... then looks at the exam paper and can't identify the issues in the problem questions? The examiner reports are useless.

nimcdona

LawGirl3434 wrote: »

I think it really depends on how much else you're covering. I mean it does come up, but equally isn't the most important topic in terms of prioritising. If you're covering most of the course, you should be good to leave it out.

In my opinion!

Thank you! I'm doing the rest of the course so fingers crossed I'll manage without it

Vegetarian2017

For some reason it is a common issue even having put the work in. Dont stress re problem questions theyre there to catch you out you just have to try your best on the day. It comes together somehow. I dont think anyone goes into constitutional feeling they can identify all past papers.

bigtophat13

FE1s2018 wrote: »

Anyone have advice for someone who has studied most of the constitutional course- learned off cases etc... then looks at the exam paper and can't identify the issues in the problem questions? The examiner reports are useless.

Vegetarian2017 wrote: »

For some reason it is a common issue even having put the work in. Dont stress re problem questions theyre there to catch you out you just have to try your best on the day. It comes together somehow. I dont think anyone goes into constitutional feeling they can identify all past papers.

I think it's really unfair how bad the reports are, some questions I don't have a notion in. I think I'm gonna err on the side of caution whenever I see the restriction of a right and (assuming its not off the wall) mention topics like proportionality and equality (if there's a comparator) too. Some nice easily identifiable problem questions on Freedom of Expression, Right to make a living and due process please and thanks Colm and Eoin!

Breacnua

LawGirl3434 wrote: »

I think it really depends on how much else you're covering. I mean it does come up, but equally isn't the most important topic in terms of prioritising. If you're covering most of the course, you should be good to leave it out.

In my opinion!

Agree!