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

A comprehensive 53-page SQE1 Business Law and Practice revision guide designed to help you understand, organise and quickly recall the rules and procedures most likely to be tested in multiple-choice questions.

The resource is structured to follow the relevant SRA SQE1 Assessment Specification and Functioning Legal Knowledge (FLK) applicable.

The cheat sheet presents Business Law and Practice in structured, colour-coded tables separating the general rule, exceptions, important limits, MCQ trigger words, legal effects and relevant timelines.

Topics covered include:

• Sole traders, partnerships, LLPs and companies
• Company formation and separate legal personality
• Limited liability and the corporate veil
• Directors' appointment, powers and duties
• Shareholder rights and decision-making
• Board meetings and general meetings
• Ordinary and special resolutions
• Shares, share capital and funding
• Dividends and distributions
• Debt and equity finance
• Partnerships and partnership liability
• Business taxation
• Corporation Tax and Income Tax principles
• Capital Gains Tax
• Corporate insolvency
• Personal bankruptcy
• Professional conduct in a business context

The guide places particular emphasis on who has authority to make a decision, which procedure must be followed, the required voting threshold and the legal or tax consequence that follows.

The resource is designed for use when consolidating Business Law and Practice, preparing for mocks or completing final-stage revision before the SQE1 examination.

Please note: This is an independently prepared revision resource and is not affiliated with, approved by or endorsed by the SRA, Kaplan, any university, education provider or SQE training provider. It is intended as a supplementary study aid and should be used alongside the official SQE assessment specification and your main study materials.