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Money Traders

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Exam of 21 pages for the course Money Traders at Money Traders (Money Traders)

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Question 1
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Money Traders Inc, a company registered in the United States of America, wishes to
bring a claim for US$5 million against Brighton Securities plc which it alleges is money
due under a currency transaction between the companies. Which of the following
statements is/are CORRECT about what must be expressly stated in the particulars of
claim? (i) That the claim is for payment in a specified foreign currency. (ii) Why it is for
payment in that currency. (iii) The sterling equivalent of the sum at the date of the
claim. (iv) The source of the exchange rate relied on to calculate the sterling equivalent.
Select ONE of the following:
Select one:
A. All of them.
B. (i) and (ii) only.

C. (i), (iii) and (iv) only.
D. (iii) only.
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ANSWER [A] [A] This is Correct. All four elements are required by PD 16 para 9.1 in a
claim in a foreign currency. [B], [C] and [D] are therefore wrong.
The correct answer is: All of them.

Question 2
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You have been instructed on behalf of Office Space plc in a claim against a construction
company. You have advised that Office Space plc will need to obtain evidence from a
quantity surveyor.
Which ONE of the following is CORRECT?
Select one:

,A. A quantity surveyor may be called as a witness at the trial provided a witness statement
setting out the substance of his evidence is served on the defendant in accordance with
directions made by the court.
B. Permission is required to call a quantity surveyor at trial. When seeking permission the
requirements that need to be fulfilled are to identify a suitably qualified witness and to satisfy

the court that calling the witness complies with the overriding objective.
C. A quantity surveyor instructed on behalf of Office Space plc will enjoy immunity from
suit for any negligence or breach or contract.
D. A quantity surveyor giving evidence on behalf of Office Space plc may have to make
concessions contrary to the interests of Office Space plc.
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ANSWER: [D]. [A] Wrong. A quantity surveyor will be an expert, so Part 35 applies rather
than exchanging witness statements. [B] Wrong. In seeking permission to call an expert
Office Space plc will be under duties to provide an estimate of the costs of the expert
evidence, to identify the issues on which expert evidence is required, and if possible, the
name of the expert (r 35.4(2)). [C] Wrong. Immunity from suit of experts was abolished by
Jones v Kaney [2011] 2 AC 398. [D] Correct. Experts are under a duty to give their evidence
honestly, and their duty to the court overrides any obligation to the person instructing or
paying them (CPR, r 35.3(2)). Complying may include making concessions against their
client (Jones v Kaney [2011] 2 AC 398 at [50]).
The correct answer is: A quantity surveyor giving evidence on behalf of Office Space plc
may have to make concessions contrary to the interests of Office Space plc.

Question 3
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Which of the following statements numbered (i) to (iv) about costs in civil proceedings
is/are WRONG? (i) In deciding what order to make about costs, the court will have
regard to whether a party succeeded on part of its case. (ii) In deciding what order to
make about costs, the court will have regard to whether the successful party
exaggerated its claim. (iii) Before making an order that a party must pay the costs
relating only to a distinct part of the proceedings, the court will consider whether it is
practicable to make an order that a party must pay a proportion of another party's
costs. (iv) When deciding the amount of costs, the court will give effect to any orders
which have already been made.
Select ONE of the following:
Select one:

, A. (iii) only.

B. (iv) only.
C. (i) and (ii) only.
D. None of them.
Feedback
ANSWER: [D] You were asked to select the WRONG answer. Propositions (i) to (iv) are all
correct and, therefore, [D] is the correct answer here. (i) is CPR, r 44.2(4)(b); (ii) is r 44.2(5)
(d); (iii) is r 44.2(7); (iv) is r 44.4(2).
The correct answer is: None of them.

Question 4
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Stephen brought a County Court claim for damages for breach of contract against
Martha 7 months ago. Martha filed a defence 3 months ago. You have been briefed to
appear for Stephen on a case management conference, which is listed for hearing in 14
days' time. You have come to the conclusion Martha was not in fact the other
contracting party, but was simply acting as the agent for Louise. The breach of contract
relied upon was now 6 years and 3 months ago. You decide to amend the particulars of
claim and claim form, and to seek permission at the case management conference.
Which one of the following is the most likely approach to be taken by the District Judge on
your application for permission to amend?
Select one:
A. Permission may be granted if the amendment is necessary and Martha was named in the

original statements of case in mistake for Louise.
B. Permission may be granted if the amendment is desirable in order to enable the court to
resolve all matters that are in dispute.
C. Permission may be granted if the amended claim arising out of the same or substantially
the same facts as those set out in the original statements of case.
D. Permission may be granted if Martha was acting as an undisclosed agent for Louise, and if
Stephen acted with all due diligence once he discovered the facts.
Feedback
ANSWER: [A] This is an amendment to substitute a new party after the expiry of limitation.
From the dates in the facts the limitation period (6 years) was current when the claim was

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