SESSION 3 ASSESSMENT for CAA2425: Anatomy of a deal

SESSION 3 ASSESSMENT for The Legal Cheek Commercial Awareness Academy 2024-25: Anatomy of a deal – with Fried Frank
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1. Why would a law firm engage specialist counsel to help with a deal?*

The firm does not have capacityFor specialist support in areas such as HR, employment, or pensions lawSo that they do not have to do the work themselvesIt is more economical
2. What will NOT typically need to be considered on deals involving other jurisdictions?*

Whether documents need to be notarisedTime zonesBank holidaysThe local cuisine
3. What is the primary purpose of an NDA (Non-Disclosure Agreement) in the deal process?*

To outline the main terms and conditions of the dealTo protect commercially sensitive information during the market or auction processTo finalise the purchase priceTo ensure all conditions and deliverables are met before completion
4. What is the purpose of the disclosure letter?*

To confirm funding for the purchaseTo choose who is permitted to know certain informationTo divulge key facts, such as if a party is currently in litigationTo finalise the purchase price
5. What is a typical regulatory consideration when signing on a deal?*

The font used in the documentsCompetition regulationThe ink used on the paperThe number of pages
6. When a deal is completed and shares are transferred, who needs to be notified about Stamp Duty?*

HM Revenue & Customs (HMRC)The competition authoritiesSpecialist counselNo one!
7. When the Share Purchase Agreement (SPA) is signed...*

Both the seller and buyer are contractually bound to the transaction unless either party defaults on its termsBoth the seller and buyer are contractually bound to refrain from disclosing confidential information about the transactionA deposit is paid, but neither party is legally bound until completionThe shares of the target company are redistributed to reflect the terms of the transaction
8. What key skill did Megan and Claire emphasise that trainees should demonstrate when working on a deal?*

Caselaw knowledgeLanguagesOrganisationAcademic results
9. Whether an auction or a bilateral agreement, how will a buyer NOT fund the transaction?*

EquityDebtA combination of debt and equityStamps
10. Which type of client is NOT likely to need handholding by junior lawyers during the deal process?*

Private Equity firmsUniversitiesFamily businessesUtilities
Calculation
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SESSION 3 ASSESSMENT for The Legal Cheek Commercial Awareness Academy 2024-25: Anatomy of a deal – with Fried Frank