BUSINESS AND
CORPORATE LAW
(GLB) ACCA
ACCA F4
These ACCA F4 (Global) notes provide full syllabus
coverage with +50 case studies, each clearly structured
into background, issue, decision, and Exam relevance.
Covering contract law, company law, corporate
governance, directors’ duties, insolvency, and the global
legal framework, the notes simplify complex principles
into exam-focused content. Designed for clarity and
quick revision, they are a reliable resource to strengthen
understanding and maximize performance in F4 Global.
By: Miral Tukadiya
(ACCA Student)
,Table of Contents
1. ESSENTIAL ELEMENTS OF LEGAL SYSTEM………………………………………….………….02
2. DISPUTE RESOLUTION MECHANISM ............................................................................... 10
3.CISG- CONTRACT FORMATION AND OBLIGATION ...................................................... 18
4. CISG- PASSAGE OF RISK AND ICC INCOTERMS .......................................................... 25
5. CISG – BREACH OF CONTRACT AND REMEDIES........................................................... 29
6. TRANSPORTATION DOCUMENTS AND MEANS OF PAYMENT ....................................... 35
7. AGENCY LAW ................................................................................................................ 47
8. PARTNERSHIP .................................................................................................................. 49
9. CORPORATIONS AND LEGAL PERSONALITY ................................................................. 60
10. COMPANY FORMATION ............................................................................................. 67
11. MEMORANDUM AND ARTICLES .................................................................................. 78
12. SHARE CAPITAL ........................................................................................................... 81
13. CAPITAL MAINTENANCE ............................................................................................. 85
14. LOAN CAPITAL ............................................................................................................. 91
15. COMPANY’S DIRECTORS ............................................................................................. 96
16. OTHER COMPANY OFFICERS ..................................................................................... 106
17. COMPANY’S MEETING AND RESOLUTION ................................................................ 111
18. INSOLVENCY AND ADMINISTRATION ....................................................................... 116
19. FRAUDULENT AND CRIMINAL BEHAVIOUR ................................................................ 120
CASE STUDY ..................................................................................................................... 128
IMPORTANT CONCEPTS…………………………………………………………………………163
© 2025 Miral Tukadiya
This material is my original work, written, compiled, and structured for personal study
purposes.
Sources: ACCA Study Hub materials and other online resources.
Unauthorized reproduction or distribution is strictly prohibited.
All rights reserved.
© Miral Tukadiya 2025 1
, 1.ESSENTIAL ELEMENT OF
LEGAL SYSTEM
IT COVERS:
INTERNATIONAL TRADE
AND LEGAL
ECONOMICAL, REGULATIONS,
CIVIL LAW, COMMON
POLITICAL, LEGAL CONFLICTS RELATED
LAW, SHARIA LAW
SYSTEM LAWS, AND
DGD INTERNATIONAL
BODIES
• ECONOMIC SYSTEM: Operates society financially.
• POLITICAL SYSTEM: system of politics and holds authority within society and how
they govern it.
• LEGAL SYSTEM: Maintains public and private behavior and relationships.
• CIVIL LAW: clear written statutory which governs private rights and deals with
individuals and organizations.
• COMMON LAW: doctrine of precedents, deals with individuals and state.
ECONOMICAL SYSTEM
1. PLANNED ECONOMY (NORTH KOREA)
2. MARKET ECONOMY (THEORETICAL CONCEPT)
3. MIXED ECONOMY (MOST COUNTRIES)
1. PLANNED ECONOMY
Completely regulated by the government.
Production, distribution, price, everything decided by government (govt).
No place for private enterprise.
e.g., north Korea, China(with small contribution of private enterprise)
pros: equal society, balanced production
cons: no innovation, no growth, no flexibility, no freedom.
© Miral Tukadiya 2025 2
, 2. FREE MARKET
Free market is economy where there is no intervention of government, which
is why It is basically largely theoretical.
But some countries still consider themselves as free(pure) market with minimal
intervention of government.
This economy is driven by principle of demand and supply.
Private companies have complete control over economy
E.g., Singapore, Ireland, Taiwan.
Free market has two types: communist and capitalist. Communist focuses on
class equality and communal ownership, which means everyone has same
economy class and have equal access to everything.
And capitalist focuses on profit making.
It’s a trade-off between liberty and potential inequality.
Pros: innovation, growth, competition, freedom
Cons: monopoly, harm to societal welfare, drastically market shifts
3. MIXED MARKET
Mix of free market and significant intervention of government.
Government enforces laws and framework to secure property rights and
maintain fair practices.
Depends on demand and supply.
Government provides necessary free services and goods to public, to protect
societal welfare. Like education, medical facilities.
E.g., UK, Australia, Germany, USA, France.
Pros: stable growth, innovation, remote chances of monopoly, healthy
competitors.
Cons: corruption and cronyism, bureaucratic process, economic inequality,
conflicting interest.
© Miral Tukadiya 2025 3
CORPORATE LAW
(GLB) ACCA
ACCA F4
These ACCA F4 (Global) notes provide full syllabus
coverage with +50 case studies, each clearly structured
into background, issue, decision, and Exam relevance.
Covering contract law, company law, corporate
governance, directors’ duties, insolvency, and the global
legal framework, the notes simplify complex principles
into exam-focused content. Designed for clarity and
quick revision, they are a reliable resource to strengthen
understanding and maximize performance in F4 Global.
By: Miral Tukadiya
(ACCA Student)
,Table of Contents
1. ESSENTIAL ELEMENTS OF LEGAL SYSTEM………………………………………….………….02
2. DISPUTE RESOLUTION MECHANISM ............................................................................... 10
3.CISG- CONTRACT FORMATION AND OBLIGATION ...................................................... 18
4. CISG- PASSAGE OF RISK AND ICC INCOTERMS .......................................................... 25
5. CISG – BREACH OF CONTRACT AND REMEDIES........................................................... 29
6. TRANSPORTATION DOCUMENTS AND MEANS OF PAYMENT ....................................... 35
7. AGENCY LAW ................................................................................................................ 47
8. PARTNERSHIP .................................................................................................................. 49
9. CORPORATIONS AND LEGAL PERSONALITY ................................................................. 60
10. COMPANY FORMATION ............................................................................................. 67
11. MEMORANDUM AND ARTICLES .................................................................................. 78
12. SHARE CAPITAL ........................................................................................................... 81
13. CAPITAL MAINTENANCE ............................................................................................. 85
14. LOAN CAPITAL ............................................................................................................. 91
15. COMPANY’S DIRECTORS ............................................................................................. 96
16. OTHER COMPANY OFFICERS ..................................................................................... 106
17. COMPANY’S MEETING AND RESOLUTION ................................................................ 111
18. INSOLVENCY AND ADMINISTRATION ....................................................................... 116
19. FRAUDULENT AND CRIMINAL BEHAVIOUR ................................................................ 120
CASE STUDY ..................................................................................................................... 128
IMPORTANT CONCEPTS…………………………………………………………………………163
© 2025 Miral Tukadiya
This material is my original work, written, compiled, and structured for personal study
purposes.
Sources: ACCA Study Hub materials and other online resources.
Unauthorized reproduction or distribution is strictly prohibited.
All rights reserved.
© Miral Tukadiya 2025 1
, 1.ESSENTIAL ELEMENT OF
LEGAL SYSTEM
IT COVERS:
INTERNATIONAL TRADE
AND LEGAL
ECONOMICAL, REGULATIONS,
CIVIL LAW, COMMON
POLITICAL, LEGAL CONFLICTS RELATED
LAW, SHARIA LAW
SYSTEM LAWS, AND
DGD INTERNATIONAL
BODIES
• ECONOMIC SYSTEM: Operates society financially.
• POLITICAL SYSTEM: system of politics and holds authority within society and how
they govern it.
• LEGAL SYSTEM: Maintains public and private behavior and relationships.
• CIVIL LAW: clear written statutory which governs private rights and deals with
individuals and organizations.
• COMMON LAW: doctrine of precedents, deals with individuals and state.
ECONOMICAL SYSTEM
1. PLANNED ECONOMY (NORTH KOREA)
2. MARKET ECONOMY (THEORETICAL CONCEPT)
3. MIXED ECONOMY (MOST COUNTRIES)
1. PLANNED ECONOMY
Completely regulated by the government.
Production, distribution, price, everything decided by government (govt).
No place for private enterprise.
e.g., north Korea, China(with small contribution of private enterprise)
pros: equal society, balanced production
cons: no innovation, no growth, no flexibility, no freedom.
© Miral Tukadiya 2025 2
, 2. FREE MARKET
Free market is economy where there is no intervention of government, which
is why It is basically largely theoretical.
But some countries still consider themselves as free(pure) market with minimal
intervention of government.
This economy is driven by principle of demand and supply.
Private companies have complete control over economy
E.g., Singapore, Ireland, Taiwan.
Free market has two types: communist and capitalist. Communist focuses on
class equality and communal ownership, which means everyone has same
economy class and have equal access to everything.
And capitalist focuses on profit making.
It’s a trade-off between liberty and potential inequality.
Pros: innovation, growth, competition, freedom
Cons: monopoly, harm to societal welfare, drastically market shifts
3. MIXED MARKET
Mix of free market and significant intervention of government.
Government enforces laws and framework to secure property rights and
maintain fair practices.
Depends on demand and supply.
Government provides necessary free services and goods to public, to protect
societal welfare. Like education, medical facilities.
E.g., UK, Australia, Germany, USA, France.
Pros: stable growth, innovation, remote chances of monopoly, healthy
competitors.
Cons: corruption and cronyism, bureaucratic process, economic inequality,
conflicting interest.
© Miral Tukadiya 2025 3
