HI6027 Business and Corporate Law | My Assignment Tutor

HOLMES INSTITUTEFACULTY OFHIGHER EDUCATION HI6027 Business and Corporate Law Group Assignment T3 2020 Assessment Details and Submission GuidelinesTrimesterT3 2020Unit CodeHI6027Unit TitleBusiness and Corporate LawAssessment TypeGroup AssignmentAssessment TitleCase Studies of Business Law and Business StructuresPurpose of theassessment (with ULOMapping)The purpose of the Group Assignment is to provide students with an opportunity towork in a collaborative environment in solving two case problems by citing the relevantlegal rules and cases and applying these to the facts of the case.In this Group Assignments, students are required to:– Understand the basic principles of Contract Law and the Law of Tort and apply themin business circumstances. (ULO 2)– Analyse the legal environment in which business structures operate and evaluate theiruse in a commercial context. (ULO 3)– Apply correct legal methodology, specifically to apply the IRAC (Issues, RulesArgument, Conclusion) framework to solve legal problems. (ULO 5)Weight40% of the total assessmentsTotal Marks40%Word limitGroup Written Report of maximum 2,000 wordsDue DateWeek 10SubmissionGuidelines• All work must be submitted on Blackboard by the due date along with a completedAssignment Cover Page.• The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cmmargins on all four sides of your page with appropriate section headings and pagenumbers.• Reference sources must be cited in the text of the report, and listed appropriatelyat the end in a reference list using the AGLC style. Page 2 of 8HI6027 Business and Corporate Law Group Assignment T3 2020Assignment SpecificationsPurpose:The Group Assignment aims to provide students with an opportunity to work in a collaborativeenvironment in solving two case problems by citing the relevant legal rules and cases and applyingthese to the facts of the case.Students are to form groups, with a minimum of 2 and a maximum of 4 students per group. Theassignment consists of a 2,000-word written report.Instructions: Please read and re-read carefully to avoid mistakes.Group Report1. This group assignment consists of 2 parts. Part A is a question on Contract Law, and Part B is aquestion involving Business Structures. Both questions must be answered. Each question is worth20 marks.2. The total word limit for the group report is 2,000 words (+/- 10% allowed) with each part having amaximum word count of 1,000 words. 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.3. The total word count for the report as well as each part must be clearly written on the cover sheetof the assignment. A paper will not be marked if the word counts are not written on the coversheet.4. The group report is worth 40% of total marks in this unit.Important Reminders:• You must form your groups by self-enrolment in Blackboard. Please refer to the document “GroupAssessment Self Enrolment Tutorial” that has been posted in Blackboard (under announcementsand also in “Assessments” folder). This document will assist you with the process of self-enrollingin a group to undertake an assessment task in Blackboard Ultra.• All group report submissions must be de done online and run through SafeAssign. No hard copiesare to be submitted. Only one group member needs to submit for the whole group.• You must attach as the official Holmes Institute cover sheet to your group report and upload onBlackboard.• Group report must be submitted via SafeAfssign on Blackboard and show a similarity percentagefigure. Any group report that does not show a SafeAssign similarity percentage will not be markedand be required to re-submit.• Late submissions will be subject to Holmes Institute policy on student assessment submissionand late penalties (please refer to subject outline and Student handbook).• All reports are expected to observe proper referencing in accordance with the Australian Guideto Legal Citation (AGLC). A copy of the AGLC has been posted in the Week 2 tutorial folder.You may also download a copy for free via this link:https://law.unimelb.edu.au/__data/assets/pdf_file/0005/3181325/AGLC4-with-Bookmarks-1.pdfPage 3 of 8HI6027 Business and Corporate Law Group Assignment T3 2020• In general, for written reports, a SafeAssign similarity percentage of 25% or below is acceptable.Regardless of the similarity figure, all group reports must use in-text citation and observe properreferencing rules.• All assignments are expected to strictly follow Holmes Institute’s Academic Conduct and IntegrityPolicy 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 severeconsequences for the groups found committing the same, including receiving zero (0) for the entireassignment and possible failure in the unit.• Any group assignment that is found to contain fake or bogus references or references that areclearly irrelevant to the subject matter of the assignment will receive an automatic zero (0) mark.• IMPORTANT: Identification of individual work. To ensure that all students participateequitably in the group assignment and that students are responsible for the academic integrity ofall components of the assignment, each group must complete the following table which identifieswhich student/students are responsible for the various sections of the assignment: Assignment sectionStudent/Students This table needs to be completed and submitted with the assignment as it is a compulsorycomponent required before any grading is undertaken. Marking criteriaWeighting (%)Group Report– Identification of material facts involved in problem question8%– Identification of legal issues / legal question and relevant law10%– Thorough yet succinct application of law to material facts10%– Citation and referencing8%– Professional quality4%TOTAL Weight40% Page 4 of 8HI6027 Business and Corporate Law Group Assignment T3 2020Assignment QuestionsPart A: Contracts Law Question (20 marks)• Read the Contracts Law question below.• In 1,000 words (+/- 10% is allowed), answer your chosen question using the IRAC method.• Your answer must be supported by relevant principles of Australian law and cases decided byAustralian courts (preferably the High Court) and/or scholarly articles. A minimum of 3 genuineand relevant references are required for this part of the report.• The full citations for all sources cited in your answer must be listed in a Reference list at the endof the Part A question.• In addition, any online sources cited in your answer and listed in your Reference List must includea valid hyperlink that allows access to the full text of the source.Wilona was married to Wilbur for 40 years. She was devastated when he passed away. Shehad been very reliant on him and left all their business matters to him. She had always beena religious person and turned to her faith for solace.She was visited by her local priest, Father Devout. She talked about her situation with himand concluded that she should sell her matrimonial home and move into a small unit. FatherDevout was himself looking for a new home after the church had informed him that it wouldbe selling the bungalow adjacent to the church building in which he currently lived as a costcutting exercise. He mentioned this fact in passing and Wilona insisted that she sell her houseto him. When he asked how much she would want for the property, she said she had no ideaof its worth. However, she had heard a neighbour say that a house in the street had sold forabout $200,000, but, because she knew that her house would go to someone deserving, shewould sell it to him for $100,000. This was in fact half its true value. She wouldn’t take no foran answer and Father Devout knew her to be someone who would obstinately insist onsomething once her mind was made up.Wilona needed a bridging loan to purchase her unit. She does not trust banks and insteadapproached Sly, a fellow parishioner. Sly was a wealthy businessman, who told her he wouldgive her the necessary funds if she signed a receipt for it so he ‘would have something toshow the taxman’. In fact, the “receipt” was a basically-worded loan document, whichprovided that she was liable for interest at twice the rate that she could have obtained from abank. Wilona signed the document without reading it because she thought Sly, as a fellowchurchgoer, was “a good man”.Wilona’s son and daughter have just flown in from their respective homes overseas anddiscovered what Wilona has been doing. They seek your advice on whether she can undowhat she has done.Advise Wilona’s children, discussing all available grounds for relief under Australian contractlaw.Page 5 of 8HI6027 Business and Corporate Law Group Assignment T3 2020Part B: Business Structures question (20 marks)• Read the questions below on Business Structures.• In 1,000 words (+/- 10% is allowed), answer the chosen given question.• A minimum of 3 genuine and relevant Australian legal references are required for this part of thereport. Examples of relevant references for this question include 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 endof the Part B question.• In addition, any online sources cited in your answer and listed in your Reference List must includea valid hyperlink that allows access to the full text of the source.Congratulations! You have secured a graduate position with a large firm of corporateadvisers. Jessica, a partner in the practice, asks you to attend an 8 am meeting on Mondaywith herself and Julian Harris, a longstanding client of the firm. You will be required to takenotes and prepare answers to Julian’s queries.Julian Harris is married to Samantha Patel. They have one child, Pauline, who attends a localprivate school. Julian is very entrepreneurial and has been running a second-hand andvintage clothing business in Dandenong, Victoria, by himself as a sole trader for the past fiveyears under the business name of Retrofit. A lot of Julian’s customers are other businesses,both local and overseas. Turnover was $285 000 in the first year and has now grown to over$3 million per annum.The business operates from rented premises, but Julian would prefer to buy a building.Currently, Retrofit employs eight staff. Julian has plans to expand the business further. Healso wants to diversify into food and catering in the near to medium term.Julian’s mother, Bev, is a retired accountant and he regularly asks her for advice. Bevsuggested recently that Julian should structure his business as a company. Julian is unsureabout this. He makes an appointment to see Jessica.Prior to the meeting, you review Julian’s file and note that he and Samantha have thefollowing assets.• A family home in Hawthorn with a market value of $1.25 million. There is a mortgageon the property of $561,000. The house is owned by Samantha. The house waspreviously owned by Julian and Samantha, but when Julian started up his business, itwas decided to transfer the house solely to Samantha for asset protection reasons.• A share portfolio. Julian and Samantha jointly own 1000 Telstra shares, which costthem $3.30 per share, and 500 Commonwealth Bank shares, which they bought whenthey first married. The Commonwealth Bank shares cost them $10.90 per share. TheTelstra shares are currently worth $3.09 per share and the Commonwealth Bankshares are worth $61.00 per share. The shares are intended as an investment forPage 6 of 8HI6027 Business and Corporate Law Group Assignment T3 2020Pauline — they will be given to her when she turns 21. Julian and Samantha alsojointly own a portfolio of blue chip Australian shares currently valued at $145,957.• Two motor vehicles. Samantha owns a BMW Series 7 worth $135 000. Julian owns aVW Transporter Van worth $18,000, which he uses for the business.• Office furniture and equipment. During the course of the year, Julian boughtcomputers, desks, other office furniture and shelving for the business which cost himapproximately $23 000. Their current value in the financial accounts is $8650.• Superannuation. Julian has $190,568 in superannuation and Samantha has $136,000in superannuation.In addition, Samantha works as a sales and marketing manager in the city for a financialservices company. She is on a total salary package of $155,000.At the meeting, Julian hands over last financial year’s business results and his draft budgetof sales and expenses for the coming financial year. The budget for the new year showsexpected sales of $3,764,000 and a net profit of $637,979.Issues to be consideredDuring the meeting, Julian has a number of questions relating to important issues surroundingthe future of his business. The issues arising include the following.• What options does Julian have to structure the Retrofit business?• Julian still wants to run the business — he wants to be in control. How would otherbusiness• structures differ from just Julian as a sole trader?• Is Bev correct to suggest that Julian should set up a company to run the business?Why? What are the advantages and disadvantages of the different types of businessstructure?Page 7 of 8HI6027 Business and Corporate Law Group Assignment T3 2020Marking RubricGroup Report Total marksavailable: 20 marksper questionExcellentGoodSatisfactoryUnsatisfactoryIdentification ofmaterial factsinvolved in problemquestion(8 marks)7.5 to 8 marksCompletelyidentifies allrelevant facts ofcase6 to 7 marksIdentifies most ofthe relevant factsof case4 to 5.5 marksIdentifies thebasic relevantfacts of the casebut misses otherrelevant factsBelow 4 marksDoes not identifyrelevant facts of caseIdentification oflegal issues / legalquestion andrelevant law(10 marks)9 to 10 marksCorrectly identifiesall relevant legalissues and arestated in the formof questions.Correctly identifiesrelevant andappropriate legalrules and case law,and states them inthe form ofstatements7 to 8 marksIssues correctlyidentified, butmay containextraneousinformation andare not stated inthe form ofquestions.Legal rules andcase law correctlyidentified, butmay containextraneous infoand are not in theform ofstatements.5 to 6 marksIssues are notcompletelyidentified.Legal rules andcase law notcorrectlyidentified.Below 5 marksIdentifies incorrect orirrelevant issues.Identifies incorrect orirrelevant legal rulesand case law.Thorough yetsuccinct applicationof law to materialfacts(10 marks)9 to 10 marksCorrectly identifiesfacts; wellreasoneddiscussion relatingfacts to the rulesand case law.7 to 8 marksCorrectlyidentifies facts.Not wellreasoned.5 to 6 marksFacts not correctlyidentified.Analysisincoherent.Below 5 marksScant to no analysis.Citation andreferencing(including minimumnumber ofreferences)(8 marks)7.5 to 8 marksCorrectly citesminimum of 6references, in-textand in referencelist.6 to 7 marksHas minimum of 6references; or hasoccasional errorsin formatting ofin-text citationsand reference list4 to 5.5 marksDoes not haveminimum of 6references orcontains errors informatting of intext citations andreference listBelow 4 marksNo referencing eitherin-text or in referencelist; or citesinappropriatereferences; or allreferences not cited inthe correct format. Page 8 of 8HI6027 Business and Corporate Law Group Assignment T3 2020 Professional qualityincluding languageuse and writingstyle(4 marks)3.75 to 4 marksProfessionallanguage. Nogrammatical,punctuation orspelling errors.3 to 3.5 marksSome mistakes.Does not detractfromunderstanding.2.5 to 2.75 marksMany mistakes.Detracts fromunderstanding.Sloppy.Below 2 marksReflects no real effort.DeductionsExcess word count(1 mark for every 25words over)Under the wordlimit (1 mark forevery 25 wordunder)Lacks minimum of 6references (1 markfor every missingreference)

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