Trimester T3 2021 Unit Code HA3021 Unit Title Corporations Law Assessment Type Individual Assignment Assessment Title Case Study on Corporations Law Purpose of the assessment (with ULO Mapping) The purpose of the Individual Assignment is to provide students with an opportunity to demonstrate their level of learning of the various key concepts taught in the unit and apply them in analysing and answering two case problems by citing the relevant legal rules and cases and applying these to the facts of the case. In this Individual Assignment, students are required to: ● Reflect critically on the legislation and the relevant case law relating to the different business structures, in particular corporations and partnerships, and apply legal principles to real case situations. (ULO 2) ● Analyse the incorporation process and explain the laws and regulations that govern the different forms of legal entities including the significance of the concept of separate legal entity. (ULO 3) ● Analyse the roles and duties of directors in the management of the company and the responsibilities of members in a company. (ULO 4) Weight 40% of the total assessments Total Marks 40% Word limits Assignment draft – 1000 words maximum (for answers to Questions 1 and 2) Final Assignment report – 2500 words maximum (for answers to Questions 1, 2, 3 and 4) with full academic references Due Dates Week 6 – Assignment draft due Week 9 – Final Assignment due Weeks 10 – 13: Individual Oral Presentations Submission Guidelines ● All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page. ● The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. ● Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using the Adapted Harvard referencing style. HA3021 Corporations Law Individual Assignment T3 2021 - Part 2 2 Assignment Specifications Purpose: The purpose of the Individual Assignment is to provide students with an opportunity to demonstrate their level of learning of the various key concepts taught in the unit and apply them in analysing and answering two case problems by citing the relevant legal rules and cases and applying these to the facts of the case. Instructions: Please read and re-read carefully to avoid mistakes. Individual Report 1. The individual assignment is about various topics covered in this unit. There are four questions to be answered. All questions are mandatory. 2. The individual assignment is worth 40% of the total marks in this unit. 3. This individual assignment comprises two separate submissions: an assignment draft and a final assignment. Each submission is worth separate marks. 4. Questions 1 and 2 are included in Part 1 of the Assignment Instructions (see below). These are the two questions that you must answer in your Assignment Draft. 5. Questions 3 and 4 will be released at the end of Week 6 in Part 2 of the Assignment Instructions, This is the same time that you must submit your assignment draft. Answers to Questions 3 and 4 must be included with your answers to Questions 1 and 2 and put in your final assignment. 6. For the avoidance of doubt, your final assignment submission must contain answers to all four questions, Questions 1, 2, 3 and 4. Failure to include answers to any questions in your final submission will cause your assignment to be penalised. 7. Assignment draft: you are required to produce a written draft of your answer. The answer must cite relevant sections of law and cases that you specified in your answer plan. In addition, your draft must include a list of academic references that you have researched for your assignment. ● Due date: end of Week 6 ● Weight: 15% of the total individual assignment marks ● Length: 1000 words maximum (for answers to Questions 1 and 2) ● Minimum number of references: 6 8. Final assignment: you are required to submit the final version of your assignment. The final version must include an official Holmes Institute cover sheet, as well as academic referencing (either intext or footnotes) and a full Reference List. ● Due date: end of Week 9 ● Weight: 25% of the total individual assignment marks ● Length: 2500 words maximum (note: this word count is for the complete assignment and includes your answers to Questions 1, 2, 3 and 4) ● Minimum number of references: 6 9. Word count limits are strictly enforced. A deduction of two (2) marks will be imposed for every 50 words over the word count for either part of the report. Anything over the word count will not be read by your lecturer. HA3021 Corporations Law Individual Assignment T3 2021 - Part 2 3 10. The total word count for the report must be clearly written on the cover sheet of the assignment. A paper will not be marked if the word counts are not written on the cover sheet. Individual Oral Presentation You are required to present your answers in a short oral presentation that will be delivered during the live interactive online tutorials. Presentations will run from Weeks 10 to 13. Your lecturer will schedule the particular tutorial when you will present. Each oral presentation will last for five (5) minutes and will involve you briefly presenting the answer to the question and answering questions posed by your lecturer. ● Presentation dates: Weeks 10 to 13 ● Weight: 10% of the total mark in this unit ● Length: 5-7 minutes The individual oral presentation is an integral part of the assessment schedule in this unit. Any student who submits a written assignment but does not do an oral presentation in class will not have their assignment marked and their mark released until a presentation has been completed. Important Reminders: ● All assignment submissions must be done online and run through SafeAssign. No hard copies are to be submitted. ● You must attach the official Holmes Institute cover sheet to your assignment and upload on Blackboard. ● The assignment must be submitted via SafeAssign on Blackboard and show a similarity percentage figure. Any assignment that does not show a SafeAssign similarity percentage will not be marked and be required to re-submit. ● Late submissions will be subject to Holmes Institute policy on student assessment submission and late penalties (please refer to subject outline and Student handbook). ● All reports are expected to observe proper referencing in accordance with the Adapted Harvard Referencing style (please see below). ● In general, for written reports, a SafeAssign similarity percentage of 25% or below is acceptable. Regardless of the similarity figure, all assignments must use in-text citation and observe proper referencing rules. ● All assignments are expected to strictly follow Holmes Institute’s Academic Conduct and Integrity Policy and Procedures. A copy of the Policy is available on the Holmes Institute home page. (About Holmes > Policies) This policy is also explained in your Student Handbook. ● Plagiarism and contract cheating in any form will not be tolerated and will have severe consequences for the students found committing the same, including receiving zero (0) for the entire assignment and possible failure in the unit. HA3021 Corporations Law Individual Assignment T3 2021 - Part 2 4 ● Any assignment that is found to contain fake or bogus references or references that are clearly irrelevant to the subject matter of the assignment will receive an automatic zero (0) mark. ● You are required to turn on your video camera and show your face during the individual oral presentation. You are expected to wear appropriate business attire during the conduct of your individual presentation. Adapted Harvard Referencing Holmes has now implemented a revised Harvard approach to referencing: 1. Reference sources in assignments are limited to sources that provide full-text access to the source's content for lecturers and markers. 2. The Reference list should be located on a separate page at the end of the essay and titled: References. 3. It should include the details of all the in-text citations, arranged A-Z alphabetically by author surname. In addition, it MUST include a hyperlink to the full text of the cited reference source. For example: P Hawking, B McCarthy, A Stein (2004), Second Wave ERP Education, Journal of Information Systems Education, Fall, http://jise.org/Volume15/n3/JISEv15n3p327.pdf 4. All assignments will require additional in-text reference details, which will consist of the surname of the author/authors or name of the authoring body, year of publication, page number of content, the paragraph where the content can be found. For example: "The company decided to implement an enterprise-wide data warehouse business intelligence strategies (Hawking et al., 2004, p3(4))." (Hawking et al, 2004, p3 (4)) [author] [year] [page] [paragraph] Non - Adherence to Referencing Guidelines Where students do not follow the above guidelines: 1. Students who submit assignments that do not comply with the guidelines may be required to resubmit their assignments or incur penalties for inadequate referencing. 2. Late penalties will apply per day after a student or group has been notified of resubmission requirements. Students whose citations are identified as fictitious will be reported for academic misconduct. HA3021 Corporations Law Individual Assignment T3 2021 - Part 2 5 Assignment Questions ● Read the questions below and plan your answers. ● Prepare a draft for your answer. Once you receive your lecturer’s comments and feedback on your draft, you are then required to answer additional questions presented and finalise your answers. ● Follow the word counts specified for each individual component of the individual assignment. ● A minimum of 6 genuine and relevant Australian legal references are required for this part of the assignment. Examples of relevant references for this question include Australian business and company law textbooks the Corporations Act 2001 (Cth); the Australian and Securities and Investment Commission’s (ASIC) website (www.asic.gov.au), the website of the Australian Business Register’s (ABR) website (www.abr.gov.au). ● The full citations for all sources cited in your answer must be listed in a Reference list at the end of your answer. ● In addition, any online sources cited in your answer and listed in your Reference List must include a valid hyperlink that allows access to the full text of the source. NOTE: As explained above, your final assignment must answer Questions 3 and 4 below and also include your previous answers to Questions 1 and 2 that you submitted in your draft. Question 1 Cousins Lilly Henty and Samuel Curley desire to launch a business. They have always worked as employees and have never opened much less run any sort of business enterprise in their lives. They want to run a business proposed business by as simply as possible by themselves. In addition, after their business is set up, they do not want the public to easily find out what kind of business they are running. Even though they do not have business experience, they are both proactive people and are committed to make their business a success. In the future, they anticipate that they will want to expand the business and so would need additional capital from outside sources to achieve this. What type or types of business structure would suit them best? Explain your answer. (9 marks Maximum 450 words) Question 2 Kubo Yutaka is an executive director of Intoku Logistics Pty Ltd, an established company founded in Sydney in 1975. The company has 4 members/shareholders (including Yutaka), with each of them owning twenty-five percent of the company shares. According to Intoku’s constitution, all loan contract, to be valid, must bear the signature of at least two directors. Yutaka wants to retire in 2021. As he has been with the company since its inception, he believes he is now entitled to a reward for all his years of faithful service. He visits a yacht dealership in Coffs Harbour and orders a boat worth $200,000. Yutaka signs the contract as a director of Intoku Pty Ltd. When the boat is delivered and the dealer sends the invoice to Intoku, the board of directors are livid with anger and refuse to pay for the boat. They also HA3021 Corporations Law Individual Assignment T3 2021 - Part 2 6 want to take legal action against Yutaka. The boat dealer threatens to sue Intoku is the boat is not paid for. Answer the following questions: (a) Did Yutaka have authority to sign the contract to buy the boat? (b) Is Intoku Pty Ltd legally obliged to pay for the boat? (6 marks total [3 marks per question] Maximum 275 words) Question 3 Mohun Sharma, an enterprising student, just invented what he calls the “butter stick”. It looks like a glue stick, only it has butter instead of glue. Mohun believes it will revolutionise the way people have breakfast and that soon, people will say goodbye to knives and hello to his butter stick. The tagline for his invention is: “It’s a glue stick! It’s a glue stick! No, it’s a butter stick!” Mohun is excited to register a company with ASIC to launch and promote his new invention. He wants close family and friends to be part of the company has investors / shareholders. He wants the company to be called Butter Stick Pty Ltd to remind the world about his flagship product. Mohun believes that by the end of the 2021 financial year, Butter Stick Pty Ltd will have gross assets of around $5 million, with gross revenues of $10 million, employing 19 full-time staff. Mohun’s business plan shows that at the end of 5 years, his company’s assets would have grown to $15 million with projected revenues of $28 million. In addition, by that time, Mohun believes that his company only needs to have six permanent, full-time employees, with the other 50 staff working only part-time. Answer the following questions: (a) Explain what type of company Mohun would apply for registration with ASIC (b) How that company would be categorised at the end of its first financial year, and (c) Whether that company would remain in that same category in five years’ time? (6 marks total [2 marks per question] Maximum 350 words) Question 4 Answer the following questions relating to company promoters. a) Under the law, what are the most important duties of a company promoter? b) What are the remedies available to a company if a promoter breaches his or her duties? (4 marks total [2 marks per question]; maximum 300 words)