Details Name Business and Corporate Law
Final AssessmentUnit
Details Name Business and Corporate Law
Code HI6027
Trimester, Year Trimester 1, 2023
Assessment
Details Name Final Assessment
Due Date 15 June, 2023
Due Time 9.00 am
Weight 50%
Student Number First Name Family Name INSTRUCTIONSDuration 24 hoursLATE SUBMISSIONS ARE NOT ACCEPTED
Answers All responses must be entered using the answer boxes provided in this paper. DO NOT CUT AND PASTE INTO A NEW DOCUMENT
File Format MS Word only. No other format is accepted
Submission
Information Instructions are listed at the end of this paper and must be followed.
Academic
Integrity
Information Holmes Institute is committed to ensuring and upholding academic integrity. All assessments must comply with academic integrity guidelines. Important academic integrity breaches include plagiarism, collusion, copying, impersonation, contract cheating, data fabrication and falsification. Violating academic integrity is serious and punishable by penalties that range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment.
Penalties Reference sources must be cited in the text of the assessment, and listed appropriately at the end in a reference list using Holmes Institute Adapted Harvard Referencing. Penalties are associated with incorrect citation and referencing.
Question 1 (10 marks)What is the distinction between exclusive, concurrent, and residual powers found in the Australian Constitution? Give an example of each type of power.ANSWER: (answer box will enlarge as you enter your response)
Question 2 (10 marks)The Crystal Cube Company Pty Ltd published an advertisement in all the major newspapers claiming that anyone who used their 'crystal cubes' would not develop cancer. If they did, the company would pay them $200,000. The company lodged $200,000 with their bankers as a sign of good faith. Caitlin bought and used the crystal cubes as directed and developed cancer. She claimed $200,000, but the company refused to pay her.
Required:
Advise Caitlin on whether she can claim the $200,000 using relevant legal rules and principles. You may also cite a relevant case to support your answer.
** You must discuss your answer concerning the elements of a contract and Consumer Protection under the Australian Consumer Law.
ANSWER: Question 3 (10 marks)Yee Ma has a very poor understanding of English. When Phillip Lowe approached him with a document for his signature, Yee Ma was under the honest and mistaken belief that what he was to sign was only a letter of introduction to his agent. In fact, he signed a lease of his shop premises to Phillip Lowe, something he did not intend or want to do at no time. Phillip Lowe is now suing for specific performance to get Yee Ma to lease his shop premises and damages for breach of contract.
Required:
Advise Yee Ma on whether he must now lease his shop premises to Phillip Lowe because he (Yee Ma) had signed a lease.
** In answering this question, you are expected to discuss the issue of the effect of a mistake in a contract.
ANSWER:
Question 4 (10 marks)Genesis Pty Ltd is having difficulty meeting some of its obligations to creditors. The managing director is increasingly becoming concerned that the company is about to run out of money and will not be able to meet some significant obligations in the next two weeks. The company knows it has to meet payroll commitments, which may mean other creditors will not be paid.
Required:
Explain to the managing director his potential liability under the Corporations Act 2001 (Cth) law as it applies to directors in this situation.
ANSWER:
Question 5 (10 marks)Explain to a client why the rules governing their company's internal administration and management are 'replaceable'.
ANSWER:
END OF FINAL ASSESSMENT
Please complete the following details:
Integrity
Declaration I have read and understand academic integrity policies and practices and my assessment does not violate these.
Student Number Full Name Submission Date Submission instructions:
Before you submit your assessment, please check the following:
You have entered your Student Number and name on the first page
You have signed the submission declaration
You have named your file with your Student Number and Unit Code e.g. GWA1995-HI6027 It is critical you follow this file name instruction to ensure the file belongs to you.
You have saved your file in MICROSOFT WORD format only. No other format is accepted.
You have checked you are submitting the correct document as special consideration is not granted if you make a mistake.
Once you have checked the above:
Upload your file to the appropriate link on Blackboard.
You have two attempts to submit your assessment with only the final submission being marked.
** Note: All submissions are automatically passed through SafeAssign to assess academic integrity.
