Part 3: Part 3: Law Governing Estate Agency Practice and Conveyancing Procedures
Estate Agency Qualifying Examination · Part 3: Part 3: Law Governing Estate Agency Practice and Conveyancing Procedures
Assume that a provisional agreement for sale and purchase contains a clause stating that both parties agree to the sale and purchase of the property on an "as is" basis. Which of the following statements correctly reflects the legal effect of such a clause? (i) The vendor warrants that all alterations and additions to the property as at the date of the agreement comply with the Buildings Ordinance (ii) The purchaser takes subject to any tenancy arrangements subsisting and affecting the property as at the date of the agreement (iii) The purchaser accepts that the property will be delivered in its actual physical condition as at the date the provisional agreement for sale and purchase was entered into
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Correct Answer: D
- An "as is" clause means that the property is sold and delivered in its actual physical condition as at the date the provisional agreement for sale and purchase was entered into.
- An "as is" clause covers only the physical condition of the property; it does not constitute any warranty by the vendor as to the legality of unauthorised building works under the Buildings Ordinance.
- An "as is" clause neither binds the purchaser to any existing tenancy affecting the property nor constitutes any representation or undertaking by the vendor regarding compliance with the Buildings Ordinance.
Under common law, which of the following are essential elements required for the formation of a valid contract? (i) Offer (ii) Acceptance (iii) Intention by all contracting parties to create legally binding relations (iv) Agreement on the method of resolving disputes arising from the contract (v) Consideration
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Correct Answer: B
- Under the common law framework, a valid contract requires four essential elements: Offer, Acceptance, Consideration, and an intention by all parties to create legal relations.
- An agreement on the method of dispute resolution is not an essential element for the formation of a valid contract.
Estate agent Leung Chi-keung made a copy of the identity card of his vendor client, Chan Wai-yip. Without notifying Mr Chan, Leung subsequently made an additional copy of the identity card and passed it to his friend, an insurance broker, so that the broker could market insurance services to Mr Chan. Leung later lost Mr Chan's identity card copy. Which of the following Data Protection Principles under the Personal Data (Privacy) Ordinance may Leung have contravened? (i) Ensuring that personal data collected is accurate (ii) Personal data shall not be used for purposes other than those for which it was collected (iii) Taking reasonably practicable steps to prevent unauthorised or accidental access to or disclosure of personal data (iv) Allowing the data subject the right to request correction of his or her personal data
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Correct Answer: B
- Disclosing personal data to a third party for an additional purpose without the data subject's consent contravenes Data Protection Principle 3 (Use of Personal Data) under the Personal Data (Privacy) Ordinance, Cap. 486.
- Losing personal data contravenes Data Protection Principle 4 (Security of Personal Data), which requires the data user to take reasonably practicable steps to prevent unauthorised or accidental access to, processing, erasure, loss or use of personal data.
- Data Protection Principle 2 (Accuracy and Retention of Data) and Data Protection Principle 6 (Access to and Correction of Personal Data) are not relevant to the facts of this scenario.
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