LPC Interviewing exam mistake - fail ?

[Lawz]

Basically I made a mistake on the solution of my legal interview.

The scenario was that the client was setting up a company with two friends.
He and his two friends were setting up a company and wanted advice on this.

After questioning him, I advised that he should set up a shelf company, and while he asked whether there was an alternative, I explained the alternative (regular method of incorporation, memorandum of associate , articles of association.. slower) and suggested the advantages of the shelf company which he seemed happy with. I also matched this up with the fact that he wanted to set the company up as quickly as possible.

However, when it came to providing a solution on whether he wanted more power/control over the company to reflect his investment (it was more than the two friends combined), this was where my solution went wrong. I suggested that he should ask if he can be a chairman first with a casting vote, and if the two friends disagree then he can ask to be appointed an executive director.

Yes , a chairman's casting vote is still relevant in a company of three directors. For example, 1 of the 3 directors can abstain from voting at a board meeting which could mean there is potential for deadlock. If either of the other two directors is the chairperson with casting vote then deadlock would be avoided
However, I didn’t explain this.


I had also mentioned that he can be a chairman and an executive director (and the articles can be amended accordingly) However, the problem is, that when it came to the follow up tasks, i asked him to ask his friends first if they can approve of him being a chairman, and if they are unhappy with that, ask if he can become an executive director.

My suggested next steps contradicted my earlier position ,whereby I suggested he can be both chairman and given executive director powers as the articles can be amended. I panicked.


Where I also really ****ed up was not explaining the scenario where being a chairman will help him , all I said was he would have a casting vote in case of deadlock.

Lastly in parting , I got the supervisors name wrong as alternative contact.

Assuming the rest of my interview was okay, are these mistakes enough to fail?

How much weight they attribute to errors is unclear. I guess I did provide a solution but the problem is it was not really a good one.

 

[Lawz]

In brighter news I found the wills exam today pretty easy. PLR was also ok a few weeks back. I just really don’t want to fail an exam
and have to retake it, it looks bad.

 

[Lawz]

I remember though that he mentioned in the fact pattern that out of his two friends , only one would be working part time on the venture and the other would be still working in his old job elsewhere. Hence the chairman suggestion.
However I didn’t explain quorum and that there would likely be a deadlock if that friend was still working elsewhere. Or if only one of the friends was able to attend a directors meeting.

I don't think i was necessarily wrong in suggesting a solution at giving him more power as chairman. It’s just that the explanation was a bit light because my mind was racing so quickly.

 

[LegalLily]

I remember though that he mentioned in the fact pattern that out of his two friends , only one would be working part time on the venture and the other would be still working in his old job elsewhere. Hence the chairman suggestion.
However I didn’t explain quorum and that there would likely be a deadlock if that friend was still working elsewhere. Or if only one of the friends was able to attend a directors meeting.

I don't think i was necessarily wrong in suggesting a solution at giving him more power as chairman. It’s just that the explanation was a bit light because my mind was racing so quickly.

Did you pass in the end?

 

[2002questions]

Hiya, I just wanted to drop you a note to wish you all the best. My advice was not spot on during the interviewing exam, AND I ran out of time to conclude properly, she literally had to cut me off, and I still passed, so don't lose hope. Its your performance as a whole, not just the advice. Its a skills based module not a knowledge based! If you were friendly, you structured your advice, you asked relevant questions, your intro was strong you advised about procedure and client care and fees etc you will be surprised how far that can take you. You only need a pass!! Fingers crossed for you

 

[Claristered]

Hi guys! Very nervous person here. I had the right of light scenario (basically advising someone who wanted to develop a land and was worried about antagonising the neighbours, high costs and selling their land). I forgot to ask about the neighbourhood so I forgot to give advice on that issue too. All else was fine with the exception of some audio trouble which they knew about and so I had to ask them to repeat stuff twice, fumbling in the beginning of the questioning (not too much), forgetting to hum/nod/look at camera (I am unsure on the camera point) while they were giving the info spiel since I was writing it all down and I had to slightly rush the conclusion (5mins left - still understandable but may have not done the next steps part since they had already given me the relevant documents via screenshare) but still finished within the time limit. I asked the relevant questions by following the legal note and they screenshared the agreement with me. I advised by saying stuff like them having right of light and possibly taking her to court if she wanted to develop (a big no no cause legal costs) and them possibly objecting to her planning permission application on the loss of light but not the right of light but she can sell the land (since nothing said she couldn’t). I let the client choose from the options that I gave. Do you think I will pass even if I forgot to do/did all that? I really want to pass.