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1.Mr Dong, the majority shareholder of Lide Company, provided his residential house as a mortgage for a loanagreement between Lide Company and the Bank. Both parties appropriately registered the loan agreement and themortgage agreement with the relevant government agent.Before the loan agreement matured, Mr Dong intended to sell the mortgaged house to Ms Lee and disclosed to Ms Lee the fact that the house had been mortgaged. Mr Dong also notified the Bank with respect to the transactionbetween Ms Lee and himself. Mr Dong and Ms Lee entered into a sales contract of real estate to proceed with thetransaction. However, their application for registration was denied by the relevant government authority, because theBank did not give consent in writing to this transaction.Required:In accordance with the relevant provisions of the Property Law: (c)State whether the government authority should register the contract if Ms Lee repaid the outstanding amountof the loan, even though the Bank refused to give consent to this transaction.(2 marks)

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5.Ms Huang, a shareholder of the Daqing Limited Liability Company (Daqing), found that the general manager, Mr Ding,had accepted bribes from several suppliers, which materially caused losses to Daqing, and adversely affected theinterests of all shareholders.Further examination, through a Certified Public Accountant firm, disclosed that there were a lot of affiliatedtransactions between Daqing and Everbright Co, which was the majority shareholder of Daqing. Mr Ding wasrecommended by Everbright Co and appointed by Daqing’s board of directors, which was substantially influenced byEverbright Co. With a series of such transactions Daqing transferred huge profits to Everbright Co and adverselyaffected Daqing.Required: (b) State TWO different legal actions Ms Huang was entitled to take to protect the rights of Daqing and itsshareholders due to the affiliated transactions with Everbright Co.(4 marks)

2.Food Shop sent a fax to Sanyi Farm to inquire about the price of tomatoes as follows: ‘100,000 kg of tomatoes isurgently needed. Reply as soon as possible.’Upon receipt of the fax, Sanyi Farm shipped 100,000 kg of tomatoes to Food Shop. The latter took delivery of thegoods without any objection. On selling the goods Food Shop found that the quality of tomatoes did not meet thestandard required and had to sell the goods at a 20% discount. Food Shop considered that there was no contractbetween the two parties, since its fax to Sanyi Farm did not contain the price, which was one of the essential factorsto be an effective offer.Required:In accordance with the Contract Law: (c)Explain whether there was a contract between the two parties.(2 marks)

4.Stine, the owner of an office building, and Mering concluded a three-year leasing agreement in January 2012. Meringwould use the first floor to open a restaurant. The annual rental should be paid on the first of each month.In 2013 Stine and Mering entered into a service agreement, by which Mering would provide meals to the employeesof Stine. The service fees would be paid on a quarterly basis.In June 2014, Mering was declared bankrupt by a court which designated a bankruptcy administrator responsible forthe liquidation. The bankruptcy administrator found that Mering had failed to pay the rental for 2014. Stine claimedthe rental due for the year of 2014 as his credit and requested to offset the meal service fees for the first and secondquarters of 2014. Stine also declared dissolution of the leasing agreement between the two parties.Required:In accordance with the Enterprise Bankruptcy Law: (b) State how to deal with Stine’s request to dissolve the leasing contract.(2 marks)

5.Ms Huang, a shareholder of the Daqing Limited Liability Company (Daqing), found that the general manager, Mr Ding,had accepted bribes from several suppliers, which materially caused losses to Daqing, and adversely affected theinterests of all shareholders.Further examination, through a Certified Public Accountant firm, disclosed that there were a lot of affiliatedtransactions between Daqing and Everbright Co, which was the majority shareholder of Daqing. Mr Ding wasrecommended by Everbright Co and appointed by Daqing’s board of directors, which was substantially influenced byEverbright Co. With a series of such transactions Daqing transferred huge profits to Everbright Co and adverselyaffected Daqing.Required: (a)State whether Ms Huang was entitled to take legal action against Mr Ding for his illegal behaviour ofaccepting bribes which adversely affected all the shareholders.(2 marks)