LAW 8500 Australian Commercial and Corporations Law Assignment (University of Southern Queensland )

This assignment deals with research skills and comprises 30 % of total marks for this course.

This assessment tests course objectives addressing:

  • Knowledge of relevant law,
  • Application of the law to factual business situations,
  • Use of critical and analytical thinking skills, and
  • Defend your analysis in professional or legal settings.

Please read the questions carefully as well as the marking rubric supplied separately.
Make sure you clearly understand the mark allocation for each question and the word
limit.

Instruction to complete assessment tasks: LAW 8500 Australian Commercial and Corporations Law

This assignment involves researching a problem, using critical thinking to reach a
resolution after finding relevant information to address the question.

To research a problem, you must know where to find the law, and choose what is most
relevant to your research challenge. Research is a skill that requires practice. You must
think about the parameters of the problem you are researching. You do not have the
time to address everything you may find on your research topic. You must do a
literature search on the most relevant and important sources of information on your
topic. Then you must have a research methodology, which is your mode of inquiry. This
is the approach taken to research the problem and address the research question. This
explains how you are analyzing data to address your research question. It must
demonstrate that this method will answer the question identified.

You have two problem scenarios and you must identify the research question and do a
review of the relevant literature on the topic. Then you must explain your research
methodology. The research question is within the assessment task, but it needs restating
in your answer. You must then succinctly discuss the relevant law. Because of word
limitations, part of the assessment rubric involves your ability to state the relevant law
succinctly. Blaise Pascal the philosopher mathematician once apologized to someone for
writing ‘such a long letter since he did not have time to write a short one.’ In other
words, it takes time to be able to develop brevity without losing content depth. Think
about this.

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The research methodology is how you address the question in terms of analyzing the
relevant information and how you use it to answer the problem. To make it easier, I
suggest for your research methodology at a minimum, (1) state you will find relevant
case law precedents (primary source) and relevant data from academic texts (secondary
sources) to address the question. Then, I suggest you identify key questions you consider
relevant in determining the answer to the research question. This will form the core of
your research methodology, but please feel free to add to this to build up your
methodology if you think it relevant to do so.

Word count and form – maximum of 1500 words for each question. Format requires
cover page with plagiarism declaration, and it is essay style.

1. Auditors’ Liability (this part is worth 15 marks)

The course includes the study of tort law- an important area of law for business. In order to
establish tort liability, it is required by the plaintiff to prove in a court of law three main
elements, and these are as follows:

1) Duty of care;
2) Breach of duty of care; and
3) Loss, damage or injury

Scenario : LAW 8500 Australian Commercial and Corporations Law

Dave, an accountant, prepares a financial statement for Excel Group Company Ltd, a client,
knowing that Excel Group Company Ltd will use the statement to obtain a loan from First
National Bank. Dave makes negligent omissions in the statement that result in a loss to the
bank.

Assessment tasks

Can the bank successfully sue Dave? On what basis it would be successful in taking the
legal action to court? Please provide full explanation for your answer.
In addressing this question, please identify the research question, explain the relevant
law succinctly relating to the research question, discuss your research methodology, and
finally provide an answer to the question (word limit 1500 words).

2. Agency (this part is worth 15%)

A key issue in the law of agency is the authority of the agent. In order to bind the principle by the actions of the agent, the agent must have been acting within some level of authority. The authority of the agent comprises:

  • Express actual authority
  • Implied actual authority
  • Ostensible authority

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