Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assessment Question Adamo graduated from Western Sydney University with a Bachelor of Accounting and now works as an accountant for a firm of accountants, Summerton

image text in transcribed
Assessment Question Adamo graduated from Western Sydney University with a Bachelor of Accounting and now works as an accountant for a firm of accountants, Summerton Accountants Pty Ltd. Bianca, who has a successful toy manufacturing business, is in negotiations to possibly buy a competing toy manufacturing business, Play Zone Pty Ltd, that is up for sale, to expand her existing business. She engages Summerton Accountants to assess Play Zone's business assets, liabilities, turnover and prot and loss. Adamo is handed the project and starts by obtaining copies of Play Zone's business accounts and nancial statements. After discussing with the head of the rm, he hires Veronica, a land valuer the firm sometimes uses, to assess the current market value of Play Zone's factory land and buildings. Veronica completes her valuation report valuing the property at $310,000. Adam nalises his financial report. However, due to a typing error, Veronica's report states that the property value is $390,000. After getting 'sign off\" from the senior partner, he sends a copy of his report to Bianca with Veronica's report attached. Bianca later bought Play 20 ne's business but has now discovered the error in Adamo's report. Bianca is very unhappy. Answer the following questions. 1. Identify the nature of the harm suffered by Bianca in this scenario. (2 marks) Who does owe a duty of care to Bianca? Explain your answer by making reference to relevant case law. (8 marks) 3. Does the potential defendant breach the duty of care? Explain your answer with reference to relevant case law and statutory provisions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law And The Legal Environment

Authors: Jeffrey F Beatty, Susan S Samuelson

9th Edition

0357633369, 978-0357633366

More Books

Students also viewed these Law questions

Question

1. What do I want to achieve?

Answered: 1 week ago

Question

3. What is my goal?

Answered: 1 week ago