Business corporate lawAssessment Task – Tutorial Questions Unit Code: HI6027 Unit Name:...

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Business corporate lawAssessment Task – Tutorial Questions    Unit Code: HI6027    Unit Name: Business and Corporate Law    Assignment: Tutorial Questions 1     Due: 11:30pm 29th May 2020    Weighting: 25%     Total Assignment Marks: 50 marks    Purpose: This assignment is designed to assess your level of knowledge of the key topics covered in  this unit    Unit Learning Outcomes Assessed:     1. Critically examine the main features of the Australian legal system;  2. Critically examine the foundations of Australian company law;  3. Critically discuss and apply contract and tort law in business circumstances;  4. Critically analyse the concept of corporate internal rules and management;  5. Critically discuss and apply the legal framework that regulates a company’s dealings with  outsiders;  6. Analyse the interaction between members’ rights, directors’ duties and corporate governance;  7. Analyse the procedures regarding external administration and winding up.    Description: Each week students were provided with three tutorial questions of varying degrees of  difficulty.  These tutorial questions are available in the Tutorial Folder for each week on Blackboard.  The Interactive Tutorials are designed to assist students with the process, skills and knowledge to  answer the provided tutorial questions.  Your task is to answer a selection of tutorial questions for  weeks 1 to 5 inclusive and submit these answers in a single document.         The questions to be answered are:    Week 1  Explain the distinction between Exclusive Powers, Concurrent Powers and Residual Powers, which are  outlined in the Australian Constitution. Give an example of each power. (10 marks, maximum 300  words)      Week 2  You are in the train station waiting for your train to arrive. You see a vending machine from where you  can buy snacks and chips for $3.50. Posted on the machine is a sign saying: “Property of XYZ  Vendsolutions Pty Ltd”. You insert the coins required into the machine and out comes a packet of  chips. However, when you open the packet of chips, you find bits of plastic inside and you don’t want  to eat the chips. You want your money back.     Required:  With reference to the essential elements for the formation of a contract, explain:  a) Did you enter into a contract in this scenario? (5 marks, maximum 500 words)  b) If your answer is yes, with whom did you enter a contract? (5 marks, maximum 150 words)      Week 3  What are the common law rules regarding contracts entered into by infants, and when are such  contracts valid, voidable or void? (10 marks, maximum 300 words)      Week 4  Explain the operation of the contra proferentem rule. Is such a rule defensible in today’s business  environment? (10 marks, maximum 300 words)      Week 5  In September, Amina hired Bryan as a delivery man. Bryan was to commence work on 1 November.  On 1 October, Amina wrote to Bryan telling him that, despite their agreement, economic  circumstances were such that she no longer required his services. Can Bryan sue Amina? Explain your  answers in light of the principles learned on breach of contract. (10 marks, maximum 500 words)      Submission Directions:     The assignment has to be submitted via Blackboard.  Each student will be permitted one  submission to Blackboard only.  Each student needs to ensure that the document submitted  is the correct one.     Academic Integrity  Academic honesty is highly valued at Holmes Institute. Students must always submit work  that represents their original words or ideas. If any words or ideas used in a class posting or  assignment submission do not represent the student’s original words or ideas, the student  must cite all relevant sources and make clear the extent to which such sources were used.  Written assignments that include material similar to course reading materials or other  sources should include a citation including source, author, and page number.   In addition, written assignments that are similar or identical to those of another student in  the class is also a violation of the Holmes Institute’s Academic Conduct and Integrity Policy.  The consequence for a violation of this policy can incur a range of penalties varying from a  50% penalty through to suspension of enrolment.  The penalty would be dependent on the  extent of academic misconduct and the student’s history of academic misconduct issues.    All assessments will be automatically submitted to SafeAssign to assess their originality.    Further Information:   For further information and additional learning resources, students should refer to their Discussion  Board for the unit.

Harshit · Accepted Answer

BUSINESS AND CORPORATE LAWS
1) Certain powers are exercised by the federal government are known as Exclusive Power. These powers are listed in the constitution and the power for imposing custom and excise duties are included in section 90, the states are prohibited from raising naval or military forces are included in section 114 and section 115 in which the states are prohibited from minting their coins.Concurrent powers are defined as these powers by both the commonwealth and the states which will be exercised. It is mentioned in section 51 and with other countries trade and commerce, postal, taxation, similar services and telephonic, divorce, and marriage. When both the state government and federal government pass law on the same matter then that power is known as concurrent power. If there is a problem between the state and the federal government, the state government opinion will be given priority then the federal government.Residual powers are defined as those in which each colony has its own set of powers. At federation to the commonwealth some of these powers are handed over. The remaining power has stayed with the states and they are defined as residual powers and only the state has the authority over these powers. The residual power can be found in the areas and they are commerce and industry, law and order, development, education, and public health and social welfare issues.
2) A) Yes. There is the existence of a valid contract as machine installation displaying buying eatables at a public place to anyone is an offer who is interested in buying a pack of chips.As per Australian law, the six essential elements of a valid contract are as follows and they are:
1)Intent: Both the parties should be legally bound by the contract and an intention must be there for legal relationship entry. If the same has been proved that the intention is absent with the persons involved, the contract will not be valid in normal parlance and nor in a court. 
2) Offer: Any form or method can be used for the communication for making an offer. Offer is considered as a pledge for doing an act, if such person to whom an offer is suggested does something as a consideration.
3) Acceptance: If the offeree gives his acceptance for an offer, it will become a legally bound statement, which has been accepted for the offer from the person making that offer.
4) Consideration: It is termed as the price made by the offeree who is made in their promise exchange. The same can be in money form, delivery of the equipment, they promise to do or a service performance or work, the promise for not taking an action or not to take or the right is enforced.
5) Capacity: Both parties for a valid contract must have the capacity for entering into a binding contract that will be legal. Under trade parlance, it is the right of a person for entering into a contract. The mentioned people groups should be considered probable for lacking the significant ability to a certain degree and they are the youth, people with mental issues, and people influenced by either drugs or alcohol.

Assessment Task – Tutorial Questions Unit Code: HI6027 Unit Name: Business and Corporate Law Assignment: Tutorial Questions 1 Due: 11:30pm 29th May 2020 Weighting: 25% Total Assignment Marks: 50 marks...

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