Reference no: EM133538506
Business and Corporations Law
Assessment - Slide Deck and Video Recording
Learning Outcome 1: Demonstrate the operation of the Australian legal system and how it regulates law governing commercial transactions
Learning Outcome 2: Describe the key specific areas of law that regulate commerce in Australia
Learning Outcome 3: Determine the rights and duties of different parties to a commercial transaction based on analysis of case law and legislation
Learning Outcome 4: Understand the principles of business and corporations law and how they apply to you as business advisers and accountants
Learning Outcome 5: Understand the processes to follow in answering questions from clients about business and corporations law
Assessment Instructions
1. Attend the Assessment 3 Preparation Workshop (details to be posted in the Subject Announcements).
2. Read the Case Study made available to you on Monday of Week 8.
3. Attend your Week 12 Workshop.
4. Prepare a written answer to both questions in the Case Study during your Week 12 Workshop, populate the slide deck with both of your written answers, and submit your slide deck by uploading to MyKBS at the end of the Week 12 Workshop.
5. Record a 5-7 minute video of yourself presenting your answers using your slide deck.
6. Submit your video presentation.
Case Study
Henry, Tina, and Jenny are the directors of Bikes Pty Ltd, a company that imports bicycles from Europe for resale in Australia. Tina and Jenny authorise Henry to enter into contracts, on behalf of Bikes Pty Ltd, with European bicycle suppliers. Henry signs a supply agreement with European bicycle supplier, Wheels Ltd. Bikes Pty Ltd places an order with Wheels Ltd for the supply of 500 bicycles to meet anticipated demand in Australia during the upcoming summer months.
Wheels Ltd terminates the agreement and refuses to ship the bicycles. The directors of Bikes Pty Ltd are all shocked and disappointed because the company has already spent over $10,000 in advertising to market the bicycles in Australia. They threaten to sue Wheels Ltd for breach of contract but are directed to a clause in the agreement that states:
"This written agreement is not intended to be a formal or legal agreement, but a honourable pledge between Wheels Ltd and Bikes Pty Ltd."
Tina and Jenny cannot believe Henry could be so careless as to sign an agreement containing a clause like this. They are also concerned that their reliance on Henry may also amount to carelessness on their part.