Category Archives: Business Law

Advise all parties as to their rights under Contract Law. Advise potential remedies in all cases.

 

 

 

FINAL EXAMINATION

 

Subject Number: MP123

Subject Name: Business Law

 

Semester 2, 2020 

 

Examination Duration:  Three hours.

Note: the amount of work expected from students is equivalent to that expected in a two hour on-campus exam, however extra time is allocated to allow for registration at the commencement of the exam, reading time, and the time involved in typing and uploading the finished answers.

Total Marks Available:   50 marks, comprising two problem solving questions, each valued at 25 marks. This assessment item represents 50% of a student’s total mark/grade for the subject.

 

Exam Conditions:

This is a THEORY based This is an OPEN BOOK All answers are to be typed as a MS Word document (not PDF). Your full name and student number MUST….

As at 30 December 2019, X was still thinking about the long-term use of the $150,000. X received an interest payment from the fund of $5,500 on 15 November 2019. X has a net capital loss of $20,000 from the 2015-16 income year.

X, aged 42 and a qualified lawyer, is in the process of completing his income tax return for the income year ending 30 June 2020. He seeks your assistance/advice on how to deal with the following transactions in his tax return: On 15 October 2019, X sold all his shares in X1 Ltd, a company listed on the Australian Stock Exchange. He bought the shares on 7 July 2010 for $50,000 and sold them for $150,000. X purchased the shares with the purpose of making a profit from their sale. (X did receive dividends during the time he owned the shares). X advised his stockbroker to place the sale proceeds in a cash management trust that had its headquarters in Hong Kong. This trust was paying 15% interest….

A Question of Ethics—Improper Incorporation

A Question of Ethics—Improper Incorporation. Mike Lyons incorporated Lyons Concrete, Inc., in Montana, but did not file its first annual report, so the state involuntarily dissolved the firm in 1996. Unaware of the dissolution, Lyons continued to do business as Lyons Concrete. In 2003, he signed a written contract with William Weimar to form and pour a certain amount of concrete on Weimar’s property for $19,810.Weimar was in a rush to complete the entire project, and he and Lyons orally agreed to additional work on a time-and-materials basis. When scheduling conflicts arose, Weimar had his own employees set some of the forms, which proved deficient. Weimar also directed Lyons to pour concrete in the rain, which undercut its quality. Midproject, Lyons submitted an invoice for $14,389, which Weimar….

Discuss whether country B is allowed to tax the income received by ACO from its customers in country B under the A/B treaty?

ACO, a company resident in country A, carries on a video streaming business. In return for monthly subscription fees, customers are able to watch videos online, and are able to download copies of videos on to their mobile devices in order to watch the videos offline (for a limited period). ACO is the owner or licensee of the copyright in its library of videos. ACO has many individual customers in country B. These individual customers enter into subscription contracts with ACO on ACO’s website. Monthly subscription payments are made to ACO by the charging of customers’ credit cards (evidenced by invoices which ACO sends to customers’ email addresses). ACO has no physical presence in country B. However, ACO is registered for goods and services tax (known as VAT)….

Demonstrate knowledge of the legal environment of business within global and local perspectives.

Demonstrate knowledge of the legal environment of business within global and local perspectives. 2. Outline and research relevant facts, problems and legal issues within a given context of the legal environment of business. 3. Demonstrate knowledge of business laws and cases by identifying the legislation and relevant case law that apply in given scenarios. 4. Communicate the above skills by means of preparing written and oral presentations. 5. Critically analyse the essential principles governing the application of that law in a commercial context. 6. Apply the law related to establishing, managing and controlling business enterprises. 7. Research contemporary legal issues in business and apply the result of that research to current topical issues in the business Law environment

Describe the product subject to recall, including the recall date, recall number, and the reason for the recall.

1. Describe the product subject to recall, including the recall date, recall number, and the reason for the recall. 2. Analyze whether the manufacturer would be liable for negligence if the product had not been recalled and had caused harm to a consumer. 3. Discusses the following in relation to the product recall: 4. Duty of Care 5. Standard of Care 6. Breach of the Duty of Care 7. Actual Causation 8. Proximate Causation 9. Actual Injury 10. Defenses to Negligence 11. Analyze and apply a relevant consumer protection statute identified under “Consumer Protection” in Chapter 8 of your text in conjunction with the product recall that you have identified. Must address the topic with critical thought. Submit a four- to five-page paper (not including title and reference….

Determine the level of materiality to be used for the audit of the group accounts for the year ending in 2019.

Section 1. • Determine the level of materiality to be used for the audit of the group accounts for the year ending in 2019. Your answer should include a discussion of the nature of materiality, and a description of what materiality represents in terms of the audit of a set of financial statements, and should discuss the different bases and considerations employed in arriving at materiality. Explain the rationale behind your choice of a certain level of materiality. Provide a quantitative estimate of materiality for your company. • Review the various draft notes and disclosures accompanying the draft annual report. Highlight those that may have significance to the audit, eg. Contingencies, and outline the audit procedures that you will need to perform. Section 2. • The partner has….

You are an intern at the legal department at one of the companies in the following scenario (Greene or Howell) and tasked with compiling a memo for your supervisor, which will be used to formulate an official executive brief of these lawsuits.

You are an intern at the legal department at one of the companies in the following scenario (Greene or Howell) and tasked with compiling a memo for your supervisor, which will be used to formulate an official executive brief of these lawsuits. Scenario Mary Jane and Allen Greene, a married couple, own a high-end costume jewelry manufacturing and distribution company called Greene’s Jewelry Wholesale, LLC. The principal place of business for Greene’s Jewelry is in Derry, New Hampshire, where it owns a warehouse and two storefronts. Originally started in 1957, the company expanded over five decades, and it now employs 502 individuals in a variety of departments, including sales and marketing, research and development, human resources, and manufacturing. The primary asset of Greene’s Jewelry is its process for….

You will first select an actual business-related U.S. legal case, pertaining to the topic of U.S. tort law, based on briefly conducting associated research.

For this assessment, you will first select an actual business-related U.S. legal case, pertaining to the topic of U.S. tort law, based on briefly conducting associated research. Based on that, you will then select an organization that you believe would be impacted by that legal case. Having completed both of these tasks, you should assume you’re a senior manager in the organization you selected, and that you were asked to perform an analysis of the legal case and to write an executive briefing for the executive team of that same organization. Your executive briefing should include a summary of the case, as well as an evaluation of how the case impacts the organization. In your case law analysis you must be able to navigate the court’s decision, and….

select an actual business-related U.S. legal case, pertaining to the topic of intellectual property, based on briefly conducting associated research

For this assessment, you will first select an actual business-related U.S. legal case, pertaining to the topic of intellectual property, based on briefly conducting associated research. Based on that, you will then select an organization that you believe would be impacted by that legal case. Having completed both of these tasks, you should assume you’re a senior manager in the organization you selected, and that you were asked to perform an analysis of the legal case and to write an executive briefing for the executive team of that same organization. Your executive briefing should include a summary of the case, as well as an evaluation of how the case impacts the organization. In your case law analysis, you must be able to navigate the court’s decision, and summarize….