What effect will Seamus death have on the partnership

Assignment Help Business Law and Ethics

Reference no: EM132114752

BUSINESS & CORPORATIONS LAW ASSIGNMENT -

The assignment consists of 2 parts: a 2,000 word report (maximum) and an 8-10 minutes (maximum) in-class or video presentation.

Report: Write a report outlining the following:

a. Case introduction.

b. The duties/responsibilities breached (ex. CA sections 181 or 588G) and explain why the duties were breached.

c. Discuss and critically ANALYSE the court/tribunal decision and the reason for the decision in view of the Corporations Act.

d. Where possible and applicable, the relevance of the decision to the development of Australian corporations law or the impact of the decision on the operation of companies in Australia.

Presentation: Present the report in class or video recording. Your lecturer will advise which is more appropriate.

a. If in-class presentation, all members must present on the day. If video presentation, groups must show to the satisfaction of the lecturer that all group members made a reasonable contribution to the group work.

b. Non-compliance with this requirement will result in a failing mark or a fail will be recorded.

Part A -

1. Allan wants to sell his travel agency to Jane. He states that the agency has a turnover of $500,000 and shows Jane evidence that the turnover was over $450,000 but not $500,000. Despite this, Jane purchases the agency on the faith of the representation made by Allan, but also because of her belief that she can do better. The contract for the sale of business makes no provision as to the earning capacity of the business, but rather states that the owner's representations are not binding unless expressly noted in the contract's special conditions. Some months after the completion of the contract, Jane discovers that the business barely turns over $250,000 and is most unprofitable.

Advise Jane of her rights, if any, at common law and under statute law.

2. Alex is a property developer and purchases a block of land that is zoned medium density. The zoning is confirmed in the planning certificate in the contract of sale. Alex's intention is to develop 10 apartments and then subdivide and sell the 10 apartments. Alex is keen to commence construction and, under the contract, has the right to start work before the purchase contract is settled. Alex fails to mention to his lawyer that work has commenced. A couple of months later when his lawyer does the usual searches, he obtains a new planning certificate that shows that the land is zoned residential and this is contrary to the planning certificate issued by the City of Williamstown only a month earlier.

Advise Alex of his rights against the vendor, the City of Williamstown and his lawyer.

Part B -

PROBLEM QUESTION - Lucy, Seamus and Koo are students who are keen to earn an income in their spare time to finance their studies. Lucy has a truck, Seamus owns a lawnmower and Koo has a computer. They print flyers advertising LuSeKo Mowing Service (LuSeKo), their registered business name, which they drop in to neighbourhood letterboxes.

Within a short time, LuSeKo has a list of regular clients. Seamus cuts the grass, Lucy removes the clippings in her truck and Koo keeps the accounts.

Seamus decides that they need an industrial ride-on mower and orders one from FastCut Mowers in the name of LuSeKo. Lucy and Koo were not consulted about this purchase.

Meanwhile, Lucy develops a separate business relationship with many of LuSeKo's clients by removing rubbish from their properties on weekends while Seamus and Koo are busy studying. These clients pay Lucy in cash, which she deposits into her personal bank account. Lucy does not disclose these jobs to Seamus and Koo.

When FastCut's bill arrives, Koo is particularly upset when she realises there is insufficient money in the LuSeKo bank account to pay for the ride-on mower.

Then, while operating the ride-on mower, Seamus hits a stump and is flung under the rotating blades. He later dies as a result of his injuries.

(a) Are Lucy, Seamus and Koo carrying on a partnership?

(b) Assuming that Lucy, Seamus and Koo are in partnership, would Lucy and Koo be liable to contribute to the purchase of the ride-on mower?

(d) If FastCut wishes to commence a legal action against LuSeKo to recover the purchase price of the ride-on mower, how could FastCut discover who the individuals are behind that business name?

(e) What effect will Seamus's death have on the partnership?

(f) How would Lucy and Koo determine what is partnership property? How would the partnership's property be used to meet the LuSeKo's losses?

Textbook - Business and Corporation Law, 3rd Edition by Jeffrey F Fitzpatrick, Christopher F Symes, Angelo Veljanovski and David Parker.

Reference no: EM132114752

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Reviews

len2114752

9/17/2018 3:23:58 AM

Word limit: 2000 words. It must be 2000 words report and presentation. The report including part A and B, part A and B are the questions are attached and sent the picture too. The cover page of the book is also provided. Part A must be one question of Misrepresentation in page 326. Part B of "problem question" in page 433. Slides in presentation should be 12 slides.

len2114752

9/17/2018 3:23:52 AM

Instructions: This assignment is to be submitted by the due date via SafeAssign on Blackboard. The assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook. It is the responsibility of the student submitting the work to ensure that the work is in fact his/her own work. Ensure that when incorporating the works of others into your submission that it appropriately acknowledged. This is a group assignment. Students are to form groups, with a minimum of 3 and a maximum of 5 students per group. The assignment consists of 2 parts: a 2,000 word report (maximum) and an 8-10 minutes (maximum) in-class or video presentation.

len2114752

9/17/2018 3:23:44 AM

Instructions: Please read and re-read carefully to avoid mistakes. Research on an Australian case (ideally not more than 10 years old since the decision by the Court) involving breach of company director’s/officer’s duties under the Corporations Act 2001 (Cth). Group report must be submitted via SafeAssign on Blackboard. Group presentation: Present the report in class or video recording. Your lecturer will advise which is more appropriate. Video link must be uploaded to a publicly-viewable video sharing platform (ex. Youtube, Dropbox, Google drive) and the video link uploaded on Blackboard.

len2114752

9/17/2018 3:23:37 AM

IMPORTANT REMINDERS: You must email your lecturer your chosen case and list of group members by week 5. You must obtain approval from your lecturer of your case before starting work on it. Please note: failure to obtain lecturer approval will result in a failing mark for the entire group for the group assignment. All group report submissions must be de done online and run through SafeAssign. No hard copies are to be submitted. Only one group member needs to submit for the whole group.

len2114752

9/17/2018 3:23:28 AM

Please fill in the “Rubric Group Report” sheet (available in Blackboard under “Assignments and Due dates) and attach as a cover sheet to your group report and upload on Blackboard. Each team member also must also submit to their lecturer a “Peer Evaluation of Individual Participation in Group Assignment” sheet (available in Blackboard under “Assignments and Due dates) with their presentation/video. No submission of either the group report or video presentation link on Blackboard/SafeAssign is equivalent to non-submission, which will merit a mark of 0 (zero) for the group assignment. GROUPS OF LESS THAN 3 AND MORE THAN 5 PEOPLE WILL RECEIVE A PENALTY OF 10 POINTS. 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 Holmes Institute regulations.

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