ACTY 5320 | Law of Business Obligations | Law

Question 1 (Learning Outcome One)            10 Marks

New Zealand Constitutional Framework – short essay

Instructions: Describe in your own words what is “common law” and give an example (using a case) of how the common law system works

 

Question 2 (Learning Outcome One)   10 Marks

Legislation - Interpretation and Application

Instructions: Locate the Contract and Commercial Law Act 2017 on the New Zealand

Required:

    1. What is the purpose of the Contract and Commercial Law Act 2017? Refer to the relevant section of the Act in your answer and briefly summarise this in your own words. [2 marks]
  1. Research when the bill was introduced for the Contract and Commercial Law Act 2017 and when it obtained Royal Assent. [2 marks]
  1. Where can you find resources and guidance on Contract and Commercial Law Act 2017? Suggest some easy to access and reliable sources of information. [2 marks]
  1. Identify four legislations that were re-enacted by the Contract and Commercial Law Act 2017[4 marks]

 

Question 3 (Learning Outcome Two) 10 Marks

Negligence – short essay

Instructions: Describe in your own words the three elements required to establish a tort of negligence. Support each element with reference to the corresponding casela

 

Question 4 (Learning Outcome Two)                                   12 Marks

Negligence – application question (ILAC)

Scenario

Apex Developments Ltd (ADL) wishes to be listed on the New Zealand Exchange Main Board. As part of the process, it is required to appoint professional advisers to assist with the preparation of the prospectus (offer document), participate in the due diligence process for the Initial Public Offer (IPO), price the offering, market the offering to investors and be available to the company for other advice, where necessary, throughout the IPO process.

Ace Consulting & Accounting has been appointed to prepare the prospectus and conduct a due diligence on ADL’s financial statement.

The prospectus states that :

ADL is seeking up to $100 million to develop its business as a finance company. The company has delivered strong profit results for a number of years, including an audited net surplus of $14.97 million for the year ended 30 June 2015, an increase of 47% on the previous year’s results. In addition, ADL’s receivables book is both growing and expanding into diverse business sectors.

Prudent Investment relying on the statements in the prospectus, which indicates that ADL was financially sound, bought a block of ADL’s shares.

Twelve months later ADL went into liquidation with losses of $10 million. On examination of ADL’s accounts it was clear that the company had been in financial trouble since 2014 and the position was even worse when the report was written.

Prudent Investment is now attempting to recover their investment from Ace Consulting & Accounting.

Required

Advise Prudent Investment whether they are likely to succeed in a claim against Ace Consulting & Accounting. Cite relevant case law in your in your answer.

Question 5 (Learning Outcome Three) 10 Marks

Contract – short answers

Scenario

Jose has recently left his plumbing job and wants to start up his own business.

Jose is in need of funds for the business and asks his father for $30,000 to help him set up. Jose’s father is happy to help but has seen these kinds of situations go wrong before and therefore a bit reluctant. In the end, Jose’s father agrees to lend Jose the money, conditional on Jose signing a loan slip to record the debt, which is repayable on demand.

Jose uses the $30,000 and sets up his business. His business prospers and soon he decided to his business the sale of tools and appliances. He searches in the Yellow Pages and finds a supplier, Mandy. Mandy agrees to supply the goods to Jose and asks him to enter into an agreement. Jose was nervous about signing an agreement with someone he didn’t know and insisted on putting a clause that “this agreement is not a formal legal agreement and shall not be enforceable in the Courts”. Mandy reluctantly agreed and signed.

Jose’s business was doing great until he sprained his back and was unable to continue with works. He kept the business going through hiring a contractor in the meantime. Six months down the track Jose’s back was still not fully healed and business had been going downhill. Jose’s father was aware of the situation and Mandy’s monthly invoices have been unpaid for some time.

Required

  1. Advise Jose whether his father will be successful in an action against him. Cite relevant case law in your answer. [4 marks]
  1. Advise Jose whether Mandy will be successful in an action against him. Cite relevant case law in your answer. [4 marks]

Question One - Essay Grading Rubric below

As you research and write the essay, please use this grading rubric as a guide towards satisfying the criteria.

 

A

B

 

 

C

D/F

Mark

Organization:

Well planned and

Good overall

 

There is a sense of

No sense of

 

Overall

thought.

organization,

 

organization, although

organization

 

1%

Exceptionally well

includes introduction,

 

some of the

 

 

 

structured, includes

main body and

 

organizational

 

 

 

introduction, main

conclusion.

 

structures used are

 

 

 

body and conclusion.

 

 

weak or missing

 

 

 

1 mark

0.5 marks

 

0.25 marks

0 mark

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Content –

Exceptional

Correct identification

 

Presentation of the

Content is not

 

Law

identification of

of relevant law,

 

relevant law but not

sound

 

4%

relevant law, well

well-presented and

 

particularly supported;

 

 

 

presented, supported

supported with

 

some evidence, but

 

 

 

with evidence and

specific referencing

 

usually of a

 

 

 

details, with specific

of legislative

 

generalized nature.

 

 

 

referencing of

provisions and case

 

 

 

 

 

 

 

 

 

 

 

 

 

legislative provisions

law as required.

 

 

 

 

 

 

 

 

 

 

 

 

 

and case law as

 

 

 

 

 

 

 

 

 

 

 

 

 

 

required.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4 marks

3 marks

 

2 marks

0 mark

 

Research &

Sources are

Sources are well

 

Sources support some

The paper does

 

Citation

exceptionally

integrated and

 

claims made in the

not use adequate

 

3%

well-integrated and

support the paper’s

 

paper, but might not be

research or if it

 

 

they support claims

claims. There may be

 

integrated well within

does, the sources

 

 

argued in the paper

occasional errors, but

 

the paper’s argument.

are not integrated

 

 

very effectively.

the sources and

 

Law and facts are

 

 

 

 

 

well. They are not

 

 

Conforms APA

conforms APA

 

mostly read verbatim

 

 

 

cited correctly nor

 

 

referencing.

referencing.

 

from article or source

 

 

listed correctly.

 

 

 

 

 

and not put into the

 

 

 

 

 

 

 

 

presenters own words

 

 

 

 

 

 

 

or adequately

 

 

 

 

 

 

 

 

connected to the

 

 

 

 

 

 

 

question.

 

 

 

 

3 marks

2 marks

 

1 marks

0 mark

 

Analysis/Disc

Exceptional analysis

Good analysis or

 

Moderate analysis

No personal

 

ussion

or thoughtful

discussion on the

 

with some factual

reaction to the

 

1%

discussion expressed

topic expressed with

 

substantiation based

subject matter

 

 

well with

factual substantiation

 

on article and course or

given. Lack of

 

 

substantiation based

based on facts in

 

other materials/

analysis without

 

 

on facts in article &

article and other

 

sources, or discussion

factual

 

 

other sources.

sources.

 

question posed but

substantiation or

 

 

 

 

 

with little exploration

no discussion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

question posed.

 

 

1 mark

0.5 marks

 

0.25 marks

0 mark

 

Grammar &

Excellent grammar,

A few errors in

 

Shows a pattern of

Continuous errors

 

Mechanics

spelling, syntax and

grammar, spelling,

 

errors in spelling,

 

 

1%

punctuation.

syntax and

 

grammar, syntax

 

 

 

 

punctuation, but not

 

and/or punctuation.

 

 

 

 

many.

 

Could also be a sign of

 

 

 

 

 

 

lack of proof-reading.

 

 

 

 

 

 

 

 

 

 

1 marks

0.5 marks

 

0.25 mark

0 mark

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Question Three - Essay Grading Rubric below

 

A

B

 

 

C

D/F

Mark

Organization:

Well planned and

Good overall

 

There is a sense of

No sense of

 

Overall

thought.

organization,

 

organization, although

organization

 

1%

Exceptionally well

includes introduction,

 

some of the

 

 

 

structured, includes

main body and

 

organizational

 

 

 

introduction, main

conclusion.

 

structures used are

 

 

 

body and conclusion.

 

 

weak or missing

 

 

 

1 mark

0.5 marks

 

0.25 marks

0 mark

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Content –

Exceptional

Correct identification

 

Presentation of the

Content is not

 

Law

identification of

of relevant law,

 

relevant law but not

sound

 

4%

relevant law, well

well-presented and

 

particularly supported;

 

 

 

presented, supported

supported with

 

some evidence, but

 

 

 

with evidence and

specific referencing

 

usually of a

 

 

 

details, with specific

of legislative

 

generalized nature.

 

 

 

referencing of

provisions and case

 

 

 

 

 

 

 

 

 

 

 

 

 

legislative provisions

law as required.

 

 

 

 

 

 

 

 

 

 

 

 

 

and case law as

 

 

 

 

 

 

 

 

 

 

 

 

 

 

required.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4 marks

3 marks

 

2 marks

0 mark

 

Research &

Sources are

Sources are well

 

Sources support some

The paper does

 

Citation

exceptionally

integrated and

 

claims made in the

not use adequate

 

3%

well-integrated and

support the paper’s

 

paper, but might not be

research or if it

 

 

they support claims

claims. There may be

 

integrated well within

does, the sources

 

 

argued in the paper

occasional errors, but

 

the paper’s argument.

are not integrated

 

 

very effectively.

the sources and

 

Law and facts are

 

 

 

 

 

well. They are not

 

 

Conforms APA

conforms APA

 

mostly read verbatim

 

 

 

cited correctly nor

 

 

referencing.

referencing.

 

from article or source

 

 

listed correctly.

 

 

 

 

 

and not put into the

 

 

 

 

 

 

 

 

presenters own words

 

 

 

 

 

 

 

or adequately

 

 

 

 

 

 

 

 

connected to the

 

 

 

 

 

 

 

question.

 

 

 

 

3 marks

2 marks

 

1 marks

0 mark

 

Analysis/Disc

Exceptional analysis

Good analysis or

 

Moderate analysis

No personal

 

ussion

or thoughtful

discussion on the

 

with some factual

reaction to the

 

1%

discussion expressed

topic expressed with

 

substantiation based

subject matter

 

 

well with

factual substantiation

 

on article and course or

given. Lack of

 

 

substantiation based

based on facts in

 

other materials/

analysis without

 

 

on facts in article &

article and other

 

sources, or discussion

factual

 

 

other sources.

sources.

 

question posed but

substantiation or

 

 

 

 

 

with little exploration

no discussion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

question posed.

 

 

1 mark

0.5 marks

 

0.25 marks

0 mark

 

Grammar &

Excellent grammar,

A few errors in

 

Shows a pattern of

Continuous errors

 

Mechanics

spelling, syntax and

grammar, spelling,

 

errors in spelling,

 

 

1%

punctuation.

syntax and

 

grammar, syntax

 

 

 

 

punctuation, but not

 

and/or punctuation.

 

 

 

 

many.

 

Could also be a sign of

 

 

 

 

 

 

lack of proof-reading.

 

 

 

 

 

 

 

 

 

 

1 marks

0.5 marks

 

0.25 mark

0 mark

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assignment One Semester Two 2016

Marking Schedule

 

 

 

 

 

 

 

 

 

 

Question

 

Marking Schedule

 

 

Marks & Comments

Q1

 

Marks awarded out of 10 (see rubric)

 

 

 

 

 

 

 

 

 

 

 

 

/10

 

 

 

 

 

 

 

 

 

 

Q2(1)

 

Marks awarded for identifying purpose (1 mark) and

 

 

/2

 

 

 

section (1 mark)

 

 

 

 

 

 

 

 

 

 

 

 

Q2(2)

 

Marks awarded out of 2 for identifying the introduction of

 

 

 

 

the Bill (1 mark) and when Royal Assent was obtained (1

/2

 

 

 

mark)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2(3)

 

Marks awarded out of 2 for identifying/suggesting the

 

 

 

 

 

 

resources and guidance on Contract and Commercial

 

 

/2

 

 

 

Law Act 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2(4)

 

Marks awarded out of 4 for identifying the relevant

 

 

 

 

 

 

legislation (1 mark for each correct legislation identified).

/4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3

 

Marks awarded out of 10 (see rubric)

 

 

 

 

 

 

 

 

 

 

 

 

/10

 

 

 

 

 

 

 

 

 

Q4

 

ILAC Question – Negligence

 

 

 

 

 

 

 

Issue: Correct statements of the Issue (2 marks)

 

 

 

 

 

 

Law: Correct principles of law clearly set out and explained

 

 

 

 

well, with reference to relevant case law and/or legislation

 

 

 

 

(4 marks)

 

 

 

 

 

 

Application: Principles of law systematically applied to the

 

 

 

 

fact situation. Good explanation of application in clear and

 

 

 

 

simple language (4 marks)

 

 

 

 

 

 

Conclusion : Correct statement of conclusion (2 marks)

/12

 

 

 

 

 

 

 

 

 

 

Q5(1)

 

Short  Answer  Questions  -  Intention  to  Create  Legal

 

 

 

 

Relations

 

 

 

 

 

 

 

 

 

 

 

 

 

Marks awarded out of 4 for clear, concise explanation of

 

 

 

 

the  law  and  citing  relevant  cases  (2  marks)  and

its

/4

 

 

 

application to the situation (2 marks)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q5(2)

 

Marks awarded out of 4 for clear, concise explanation of

 

 

 

 

the  law  and  citing  relevant  cases  (2  marks)  and

its

/4

 

 

 

application to the situation (2 marks)

 

 

 

 

 

 

 

 

 

 

 

 

 

General Comments

 

 

 

 

 

 

 

 

 

 

 

 

/50

 

 

 

 

 

 

 

 

 

 

 

Solution