HI6027 Business And Corporate Law T3 Assessment Answer Holmes Institute Australia

Assignment Questions

Part A: Contracts Law Question

1. Read the Contracts Law question below.

2. In 1,000 words (+/- 10% is allowed), answer your chosen question using the IRAC method.

3. Your answer must be supported by relevant law and cases decided by Australian courts (preferably the High Court) and/or scholarly articles. A minimum of 3 genuine and relevant references are required for this part of the report.

4. Your references must be listed in a Reference list at the end of the Part A question.

Lance Lincoln is the curator of the Australian Museum of Antiquities. One day, five years ago, he had a meeting with a man who introduced himself as Trevor Hunt. Lincoln knew of Trevor Hunt from his reputation as a treasure hunter who specialized in finding antiquities for museums. The man looked like a photo Lincoln had seen in a magazine article he had been reading and which was still open on his desk. The man also provided him with a letter of recommendation from the Museum of the Caribbean, which expressed support for his capabilities and gratitude for his retrieval of treasure from a long-undiscovered wreck of a famous Spanish galleon.

The man showed Lincoln a collection of coins and pieces of crockery that he said came from the Portuguese wreck Gaivota, which he had located in international waters off the north-western Australian coast. The Gaivota was believed by some to have visited Australia in the early 1500s. he said that, if the museum was prepared to pay him a sum of money to fund a better expedition, he would be able to retrieve a treasure trove from the wreck, which he would give to the museum for display. Its discovery would also be important in rethinking Australian history.

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Lincoln and several other experts examined the coins and crockery and reached a consensus that they would only have come from the Gaivota. The museum thereupon paid the man $200,000 to fund an expedition and began plans for building a special Gaivota display in a wing of the museum. However, the main subsequently went missing, and after a search was presumed to have died at sea with the other members of his expedition.

Recently, scholars uncovered new records in Portugal about the Gaivota, which means it couldn’t visit Australia as supposed. Further, the real Trevor Hunt has reappeared after being incommunicado in the Amazon forest. It transpires that the man who presented himself as Trevor Hunt was in fact a conman. The coins and crockery were clever fakes. The man has now been arrested while watching an Ashes cricket test match at Lords in England and is being extradited to face fraud charges in Australia.

The museum now wishes to take civil action against the man to recover the money that it paid him. Ignoring any criminal liability, advise the museum about the grounds both a common law and statute law on which it may do so, and the likely outcome of such claims, explaining relevant legal principles and citing authorities.

Part B: Corporations Law question

1. Read the Corporations Law questions below.

2. In 1,000 words (+/- 10% is allowed), answer your chosen question using the IRAC method.

3. Your answer must be supported by relevant law and cases decided by Australian courts (preferably the High Court) and/or scholarly articles. A minimum of 3 genuine and relevant references are required for this part of the report.

4. Your references must be listed in a Reference list at the end of the Part B question.

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Your references must be listed in a Reference list at the end of the Part B question

Kellie has gathered a few friends together to start up a new business that will import goods from various parts of the world, which will be placed into baskets for gift giving. The company Gift Baskets Co is proposed, Kellie is to organize the registration of the company and to ensure all the appropriate formalities are complied with. Each friend has promised to put up $10,000 individually, with a proposed capital sum of $40,000 to be established for the new company.

Kellie instructs a local solicitor to establish the necessary documents for the new company. She orders 1,000 wicker baskets to be delivered to her home address, which is the new company’s headquarters. Kellie has also contracted a local designer to create a logo for the company’s products.

After two weeks, none of the friends have been able to contribute any money to the venture, due to individual problems such as school fee payments, car accidents, and payments for care of parents; none of the participants except Kellie have done anything regarding the proposed company.

The solicitor informs Kellie that the company is ready for registration and presents a bill for her work. The baskets are due to arrive and they need to be paid for, and the local designer wants to be paid for their work.

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