PCLL Conversion Notes  PCLL Conversion Notes - HK Commercial Law

What's in the Hong Kong Commercial Law Notes & Model Exam Answers (Past Paper Answers)?

Our Hong Kong Commercial Law Notes & Model Exam Answers (Past Paper Answers) will provide you with a clear and complete synthesis of the most important points you need for your Hong Kong Commercial Law PCLL Conversion exam. The table of contents of our Hong Kong Commercial Law Notes & Model Exam Answers (Past Paper Answers) is shown below.

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Table of Contents for Hong Kong Commercial Law Notes


1.   Introduction.. 4

A.    How to use Conversion Notes. 4

B.    Abbreviations. 4

2.   Part A: Sale and Acquisition of Goods. 4

A.    Transfer of Title. 4

i.          Nemo dat - “transferee can never get a better title than that of the transferor” 4

ii.         Exceptions to nemo dat 5

iii.        Legal and Equitable Interest 5

B.    Sale of Goods. 7

i.          Application of SOGO.. 7

ii.         Whether contract of sale of goods. 7

iii.        Duties of Sellers and Buyers, Express and Implied Terms. 8

1)       Duties of Seller 8

2)       Duties of the Buyer 9

iv.        Implied Terms. 10

1)       Implied undertaking as to title. 10

2)       Sale by Description and Sample (private sale as well as business) 11

3)       Implied undertaking as to quality or fitness for purpose (business seller) 11

4)       Implied condition that goods are fit for particular purpose (business seller) 12

5)       Sale by Sample. 12

6)       Exclusion of Implied Terms. 12

v.         Passing of Property. 12

vi.        Applicable nemo dat exceptions. 14

vii.       Remedies. 15

1)       Seller: Unpaid seller (any part of price unpaid S40(1)) against the goods: 15

2)       Seller: Personal remedies. 16

3)       Remedies of the Buyer 17

4)       Deposits. 18

C.    Non-sale Acquisitions: nemo dat and Gifts. 18

i.          Applicable nemo dat exceptions. 18

ii.         Gifts - Conditions Gifts - Gifts of Future Property. 18

3.   Part B: Personal Property. 19

A.    Personal Property and Interests in Personal Property. 19

i.          Types of Personal Property. 19

1)       Chose in Possession. 19

2)       Chose in Action. 19

ii.         Ownership (especially mere equities) 20

1)       Legal Ownership. 20

2)       Equitable Ownership. 20

3)       Co-ownership. 20

4)       Equity (or mere equity) 20

iii.        Possession. 20

1)       Finders’ possessory interests. 20

2)       Occupier’s rights. 21

iv.        Bailment 21

1)       Possession by bailee. 21

2)       Bailee must have consented to the possession of the chattel 21

3)       Bailor must have superior interest in the chattel 21

v.         Bailee’s duty. 21

vi.        Rights of bailee against 3rd parties. 22

vii.       Legal and Equitable Assignment 22

B.    Credit and Security. 22

i.          Types of Security. 22

ii.         Pledges. 22

1)       Possession. 22

iii.        liens. 22

1)       Possession. 22

iv.        Mortgages (other than of land) 23

v.         Bills of Sale - Fixed and Floating Charges. 23

1)       Fixed charge. 23

2)       Floating Charge. 23

vi.        Registration of charges under Companies Ordinance. 23

1)       Priority Date of Registration. 23

2)       Effect of Registration. 23

3)       Consequence of Non-Registration. 23

4)       Charge over land. 23

vii.       Crystallisation. 24

1)       Events triggering crystallisation. 24

viii.      Priority of charges. 24

ix.        Invalidation of floating charge. 24

1)       A floating charge is valid under s267 if: 24

2)       A floating charge is invalid under s267 if: 25

x.         Retention of Title (ROT) / Romalpa Clauses. 25

1)       Romalpa’s Case. 25

2)       “All monies” ROT clauses. 25

3)       Extinguishing title. 25

xi.        Set-off 25

xii.       Assignments of Choses in Action: Statutory, Legal and Equitable. 25

1)       Equitable assignment 25

2)       Requirements for a Valid Equitable assignment 26

3)       Statutory/ legal assignment 26

xiii.      Assignments- Rules of Priority. 26

xiv.      Negotiable Instruments: Bills of Exchange. 26

1)       What are Bills of Exchange?. 26

2)       Examples of bills of exchange. 26

3)       THE BILLS OF EXCHANGE ORDINANCE. 27

4.   Part C: Consumer Credit and Protection.. 27

A.    Regulatory Framework. 27

i.          Money Lenders Ordinance and Pawnbrokers Ordinance. 27

ii.         Function and Power of Consumer Council, Funds for Litigation and Group Litigation Consumer Council 28

1)       Main Duties. 28

B.    Consumer Credit 31

i.          Law of Guarantees. 31

1)       The legal nature of a guarantee. 31

2)       Guarantee and indemnity distinguished. 32

3)       Types of guarantees. 32

4)       The contract of guarantee. 32

5)       Relations between creditor and surety (guarantor) 32

6)       Relations between surety and principal debtor - rights against principal debtor 33

7)       Relations between co-sureties- rights against co-guarantors. 34

8)       Discharge of guarantor’s liability. 34

C.    Consumer Protection.. 34

i.          Unconscionable Contracts Ordinance (UCO) 34

1)       Matters to be considered by the court in assessing unconscionability. 35

2)       Relief where contract unconscionable. 35

3)       Cases. 35

ii.         Control of Exemption Clauses Ordinance (CECO) 37

iii.        Supply of Services (Implied Terms) Ordinance (SSO) 40

iv.        Money Lenders Ordinance (MLO) - Consumer transactions only! 42

1)       Schedule 1 Part 1 - Exempted Persons. 45

2)       Schedule 1 Part 2 Exempted Loans - company loans excluded! 46

v.         Protection of vulnerable consumers: Misrepresentation, Undue Influence, Duress. 46

1)       Duress. 46

2)       Undue Influence. 47

3)       Misrepresentation. 47

4)       Remedies. 48

vi.        Doctrine of relation back and fraudulent preference. 49

1)       Bankruptcy Amendment Ordinance (BO) - Personal insolvency. 49

2)       Unfair Preferences. 50

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