Corporations & Trust Law (AECL001 - FNSTPB504)

Chapter 1 (Framework of Australian Legal System)

1.A central feature of the Australian legal framework established by the Constitution is the principle of separation of powers. Explain this principle, including in your answer examples of the relevant powers.

2.With reference to question 2, do you think the principle of separation of power is still relevant and important? Is it a principle that we could or should ignore in the 21^st century? Why or why not? Be prepared to discuss your opinion. (Hint: Please explain in details the principle of separation of power before explaining and discussing your opinion).

3.One way in which the power of the commonwealth parliament has grown is by the referral of State law -making power. Describe an example where such a referral has been beneficial to business.

4.Does a decision made at an earlier time in any court in Australia always have to be followed by a court in Australia hearing a case with similar facts at a later time? Explain you answer.

5.What is COAG? (Hint: Please provide more information about what is COAG and what does it do)

Chapter 2 (Negligence and Risk)

1.What is the uniform matters which are set out in the Civil Liability Acts in regard to establishing standard of care in a particular situation?

Chapter 3 (Choosing a Business Structure)

1.Raymond, Debra and Robert are partners in a firm which provides accounting and business management services to small and medium businesses. Marie owns and operates a communications business which she wishes to franchise and she contacts Raymond to become a client of the firm. Raymond does not share Marie's business with Debra and Robert. Instead, Raymond suggests to Marie, that he, Raymond act separately and privately for Marie as he has a "broader global vision" that the firm. Marie agrees and as her business grows, Raymond makes a significant profit.

Eighteen months later, Debra and Robert discover that Raymond is working for Marie and demand that they shares in Raymond's earnings from Marie. Raymond refuses.

Discuss the issues raised by Raymond's behaviour. Will Debra and Robert be successful in their claim? What effect may Raymond's behaviour have on the partnership? Give reason for your answers.

2.Does a trust have to be communicated to the beneficiary for it to be valid?

Chapter 4 (The Company - A separate legal Entity: Nature, Regulation and Registration)

1.Describe the ways in which promoters may protect themselves from personal liability.