SQE1 Business Law and Practice – Rules, Exceptions & Key Distinctions Cheat Sheet

Business Law & Practice can feel difficult because the same facts can involve company law, procedure, tax, finance and insolvency — and a correct rule applied at the wrong stage can still produce the wrong answer.

This 69-page SQE1 Business Law & Practice revision guide is designed to help you identify the type of business problem first, then apply the correct rule, approval, formality, deadline and consequence.

The guide uses one master decision chain: who is involved → what event is happening → who has authority → what approval is required → what formality or filing applies → what deadline applies → what is the legal effect → what happens next

It also separates the subject into four major routes:business vehicle & formation → internal company decisions → corporate transactions → business crisis & insolvency

Covered in the guide:

• Business structures and formation

• Partnerships, LLPs and companies

• Company constitution and control

• Board and shareholder decisions

• Directors’ duties

• Conflicts and transactions with directors

• Shares, allotments and pre-emption

• Transfers and buybacks

• Dividends and capital maintenance

• Loans and substantial property transactions

• Debt finance and security

• Company filings and formalities

• Business taxation

• Insolvency

• Administration and liquidation

• Avoidable transactions

• Director liability in insolvency

Built for SQE1 MCQ revision

The guide is structured to help you:

• Identify the correct business vehicle and liability position

• Distinguish board decisions from shareholder decisions

• Separate ordinary, special and written resolutions

• Identify who has authority to approve a transaction

• Match the correct filing and deadline to the event

• Follow share transactions in the correct order

• Identify directors’ duties and conflicts

• Distinguish void, voidable and ineffective transactions

• Follow creditor-protection rules when insolvency arises

• Identify who can challenge a transaction and what remedy follows

The resource also includes a master lifecycle, four BLP mini-lifecycles, fast issue spotters, comparison tables, MCQ traps, deadlines, forms and “One Step Further” consequences.

The aim is simple:

identify what kind of business event is happening first — then finish the whole legal chain instead of stopping at the rule.

Use the guide alongside MCQ practice to consolidate company procedure, transactions, finance and insolvency and prepare for mocks and final-stage revision.

Please note: This is an independently prepared educational revision resource. It is not affiliated with, approved by or endorsed by the SRA or any university, education provider or SQE preparation provider. Candidates should use the applicable SRA SQE1 Assessment Specification and their main study materials alongside this resource.

Accuracy and liability notice:

This resource has been prepared with reasonable care for educational and revision purposes. However, legal rules, regulatory requirements, tax figures, filing requirements and assessment specifications may change, and errors or omissions may occasionally occur. Candidates should check the applicable SRA SQE1 Assessment Specification and relevant official sources for the version that applies to their assessment date.

This resource is not legal, tax or financial advice and should not be relied on as a substitute for professional advice or official assessment materials. Nothing in this notice affects any rights you may have under applicable consumer law.