Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help with the law for business I want to see if my answer are correct 1. Which of the following is the best
I need help with the law for business
1. Which of the following is the best deseription of the consumer guarantees in Part 32 of the Australian Consumer Law: a. protections that apply to all transactions in trade and commerce invelving the supply of coods and/or services, which can be eacluded if both parties agree b. protections that apply to all transactions in trade and commerce imolviag the supply of goods and/or services, which can cannot be excluded c. protections that apply to all consumer transactions in trade and commerce imvolving the supply of goods and/or services, which can be excluded if both parties agree d. protections that apply to all consumer transactions in trade and commerce involving the supply of goods and/or services, which cannot be excluded 2.Please select the correct statement: a. Business and company mean the same thing and these tems can be used interchangeably. b. A business is a smaller commercial enterpeise such as a sole trader or partnerstip, while a company fefers to targer tommentiat associations listed on the stock exchange. c. A business is a general term that refers to a range of different commercial enterprises, wheseas a company is a particular type of organisation that carries on commercial activities. d. A compacy needs an ACN, but not an ABN, if it is engaged in business activities. e. Both (C) and (D) 3. Select the correct statement from the following options: a. A company can raise capital by issuing shares (equity) or debentures (debt) b. A company can raise capital by issuing shares (debt) or debentures (equity) c. A company can raise capital by issuing shares or debentures, both of which increase the company's debt. d. A compary can raise caphal by iosuing shares or debentures, both of which increase the company's equity. 4. In the case of Donoghwe 8 Stevenson [1932] AC 562 , why did Donoghue sue Stevenson in negligence and not contract? a. The contract between 5 tevenson and Donoghue expressly extluded lablity. b. There was no contract between Donoghue and Stevenson. c. The law of coetract cannot be used to recover compensation for personal injury. d. The contract was between Donchtrue and the retaller. 5. Which answer option is NOT a necessary element for establishing misleading and deceptive conduet? a. The conduct must be misleading or deceptive or lkely to mislead or deceive. b. The conduct must have been by a person. c. The conduct must have been intended to mislead or deceive. d. The conduct must be in trade or commerce. 6. Employees are agents for their employers: a. Yes, ahways. b. No, never. c. It depends on whether a particular act is within the scope of the employee's empioyment d. it depends if they are an independent contractor 7. Which of the following is NOT one of the factors the court considers relevast to the existence of an emplopment relationship as compared to an independent contractor relationship: a. level of control and direction b. the description the parties give to the relationship c. whether worker is required to wear a uniform d. the level of skill required to complete the work 8. Why was the issue of the employment relationship crucial to the success of the plaintiff's case in Holls v Vabu Pty Ltod (2002) 207 CLA 21? a. So thar he could hold the courier vicariously lable for the injuries he received. b. Because he was injured in the course of his employment. c. So that he could hold the employer vicatiously liable for the negligence of the courier. d. Because the coutier was an independent contractor. 9. Which of the following best describes the protection against mialeading or deceptive conduct in section 18 of the Australan Consumer Law: a. a general protection that prohibits engaging in conduct, in trade or commerce, that is misleading or deceptive. b. a consumer protection that prohbats engaging in conduct, in trade or commerce, that is misleading or deceptive. E. a general protection that prohibits engaging in conduct, imolving the suppliy of goods or services, that is misleading or deceptive. d. a consumer protection that prohibits engaging in conduct, involving the supply of goods or services, that is misleading or deceptive. 10. In what circumstances will a person giving negligent advice be liable for harm ariaing from theic negligence? a. Where coe person gives advice to another. b. Where the advice is given in serious circumstances to a person who the advisor knew would reasonably rely upon it. c. Where the person is a professional advisot. d. Where the advice is given is relation to commercial business activities 11. Which of the following is NOT an element of an action for neglgence? a. The defendant owes the plaintiff a duty of care. b. The plaintiff's intentional beesch of the duay of care. c. The plainter has suffered a loss. d. The defendant breached their duty of care. 12. To entabish a case of occupier's liablety, a plaintief must establah that: a. the hazard was in the nafure of a 'vap' and not obvieus. b. the defendant was neglgent in not putting some protection in place or giving a waming c. the defendart has occupation or control of the land or structure. d. all of the above. 13. If someone is the "owner" of real peoperty, this meant they will have what type of interesti a. freehold b. leasehold c. mortage d. easement 14. Which of the following is not an example of personal property: a. stock b. intiellectual property C. equiponeet d. land e. shares in a compary 15. Which of the following is a feature that distinguishes tort law from contract law? a. Ton law is concersed with having the pramises of others performed. b. Tort law is private law, contract law is public law. c. In tort law, the duties which artse are mainly imposed ty law. d. In tort low, the duties are mairly imposed by the sereement between the partiet 16. Which of the following is NOT an accurate statement about the difference between tort law and crminal law? a. An action in tort is taken by the victim, criminal action is taken by the state. b. Tort law is private, criminal law is public law. C. Tort law is a state matter, criminal low is a tederal matter. d. Tort law compensates, criminal law parinhes. 17. The protections against uniair contract terms in Part 2-3 of the Australan Conumer Law apply a. generaly in trade and commerce b. to all contracts for the swe of goods and services c. to "condumer contracts" as defined in section 23(3) of the ACL. d. to "small business contracts" as defined in section 23(4) of the ACL e. bothic and d, 18. In what circumstances wil an empleyer be vicariously lable for the neglgent act of an employee? a. Always. b. Only if the employee is an independent contractor. c. Newer. d. Only if the neglgent act was carried out in the course of their employments. 19. In the centext of property law, which of the following is the best defintion of the term ' property? a. The rights or ownerstip of an object. b. Posse-sion of phyical control of as object. c. Land and anything fixed to it. d. Real property. 20. The cansumer guarantees apply to all "convumer" transactions in trade and commerce involvice the supply of goods andjor services. When will a purchaser of goods Nor be considered a 'cocoumer' under the Australian Consumer Law? a. If they purchase machinery for use in a factory valued at more than $40,000. b. If they purchase goods for personal or domestic use valued at more than 500,000 . c. If they purchase goods valued at less thas $40,000 tor use in the course of a umall business. d. If they purchame goods valued at less than $40,000 for use at heme. Part B - First problem question (10 Marks) Rory is a professional martial artist who until last year owned and operated a martial arts centre in Marion called "Extreme SelfDefence". Rory operated Extreme Self-Defence as a sole trader. Early last year Rory, who is in his earfy 60 s, decided his body needed a break from martial arts and decided to sell "Extreme Self-Defence" to one of his long-time instructors, Dave Edwards. The sale of business contract contained a restraint of trade clause which said. The vendor must not carry on a business of the same noture anywhere in the Adelaide metropolitan area for a period of three years." Last month Dave became aware that a new martial arts centre, operated by a company called Extreme Martial Arts Pty Ltd, had opened in Marion. Dave also discovered that Rory is the director of Extreme Martial Arts Pty Ltd and that Rory's wife is the sole shareholder. Can Dave enforce the restraint of trade clause against Extreme Martial Arts Pty Ltd? Please note: for the purpose of this question, you can assume that the restraint is reasonable and enforceable against Rory in his personal capacity. Part B Second Problem Question (10 Marks) Tony owns a business which makes and sells apple cider ("the Business"). Tony decides to sell the Business and is introduced to Julie who is interested in buying the Business. Tony and Julie enter into negotiations and agree on a deal. Both Tony and Julie sign the following document which Tony prepared. Heads of Agreement 1. Tony agrees to sell, and Julie agrees to buy. Tony's apple cider business 2. Purchase Price: $3.5 million. 3. All supplier agreements to be transferred to Julie. 4. All fixtures and fittings, as inspected, are included in the sale. 5. All employees to be transferred as per solicitor agreement. 6. This agreement is subject to the preparation of a formal contract of sale based on these terms. Tony arranges for his solicitor to prepare a formal contract for sale and then sends that contract to Julie. When Julie receives the contract, she calls Tony to tell him that she is no longer interested in buying the business. Tony is furious and says: "But it is too late to change your mind, you have diready signed the Heads of Agreenent. You are legally bound." Is Tony correct, is Julie legally bound to buy the Business as a result of signing the Heads of Agreement? Part B Third Problem Question (10 Marks) Ethan owns and operates a health food store in Glenelg called Nutrifucker. All of the food sold by Nutrifucker is organic, gluten-free and vegan. Nutrifucker's speciality item is the "organic vanilla quinoa smoothie." Recently, Ethan opened a second store in Uniey. Ethan hired Marcia as a full-time store manager of the Glenelg store, so that Ethan could manage the new Unley store. As part of Marcia's terms of employment, she had day-to-day responsibility for running the store, including supervising casual staff and managing customer service and food preparation. Marcia also had the authority to check and accept deliveries. However, Ethan told her not to place orders with suppliers, or otherwise make any purchases on behalf of NuteiTucker. One-day, while working in the store, Marcia was approached by Aandy who offered to supply Nutrifucker with quinoa. The price Aandy offered was much lower than the price Nutritucker was paying. Marcia, who was keen to impress Ethan, signed a 6-month supply agreement with Fandy. Untortunately, Ethan was not impressed at at. Randy's quinoa was not organic. Marcia had forgotten to request organic quinos, which is why Randy's price was low. Is Ethan liable to pay Randy for the quinoa (as per the supply agreement signed by Marcia)? Please note: for the purpose of this question, you do not need to consider any remedies that Ethan may have against Marcia. You are to consider Ethan's position with Randy only. 1. Which of the following is the best deseription of the consumer guarantees in Part 32 of the Australian Consumer Law: a. protections that apply to all transactions in trade and commerce invelving the supply of coods and/or services, which can be eacluded if both parties agree b. protections that apply to all transactions in trade and commerce imolviag the supply of goods and/or services, which can cannot be excluded c. protections that apply to all consumer transactions in trade and commerce imvolving the supply of goods and/or services, which can be excluded if both parties agree d. protections that apply to all consumer transactions in trade and commerce involving the supply of goods and/or services, which cannot be excluded 2.Please select the correct statement: a. Business and company mean the same thing and these tems can be used interchangeably. b. A business is a smaller commercial enterpeise such as a sole trader or partnerstip, while a company fefers to targer tommentiat associations listed on the stock exchange. c. A business is a general term that refers to a range of different commercial enterprises, wheseas a company is a particular type of organisation that carries on commercial activities. d. A compacy needs an ACN, but not an ABN, if it is engaged in business activities. e. Both (C) and (D) 3. Select the correct statement from the following options: a. A company can raise capital by issuing shares (equity) or debentures (debt) b. A company can raise capital by issuing shares (debt) or debentures (equity) c. A company can raise capital by issuing shares or debentures, both of which increase the company's debt. d. A compary can raise caphal by iosuing shares or debentures, both of which increase the company's equity. 4. In the case of Donoghwe 8 Stevenson [1932] AC 562 , why did Donoghue sue Stevenson in negligence and not contract? a. The contract between 5 tevenson and Donoghue expressly extluded lablity. b. There was no contract between Donoghue and Stevenson. c. The law of coetract cannot be used to recover compensation for personal injury. d. The contract was between Donchtrue and the retaller. 5. Which answer option is NOT a necessary element for establishing misleading and deceptive conduet? a. The conduct must be misleading or deceptive or lkely to mislead or deceive. b. The conduct must have been by a person. c. The conduct must have been intended to mislead or deceive. d. The conduct must be in trade or commerce. 6. Employees are agents for their employers: a. Yes, ahways. b. No, never. c. It depends on whether a particular act is within the scope of the employee's empioyment d. it depends if they are an independent contractor 7. Which of the following is NOT one of the factors the court considers relevast to the existence of an emplopment relationship as compared to an independent contractor relationship: a. level of control and direction b. the description the parties give to the relationship c. whether worker is required to wear a uniform d. the level of skill required to complete the work 8. Why was the issue of the employment relationship crucial to the success of the plaintiff's case in Holls v Vabu Pty Ltod (2002) 207 CLA 21? a. So thar he could hold the courier vicariously lable for the injuries he received. b. Because he was injured in the course of his employment. c. So that he could hold the employer vicatiously liable for the negligence of the courier. d. Because the coutier was an independent contractor. 9. Which of the following best describes the protection against mialeading or deceptive conduct in section 18 of the Australan Consumer Law: a. a general protection that prohibits engaging in conduct, in trade or commerce, that is misleading or deceptive. b. a consumer protection that prohbats engaging in conduct, in trade or commerce, that is misleading or deceptive. E. a general protection that prohibits engaging in conduct, imolving the suppliy of goods or services, that is misleading or deceptive. d. a consumer protection that prohibits engaging in conduct, involving the supply of goods or services, that is misleading or deceptive. 10. In what circumstances will a person giving negligent advice be liable for harm ariaing from theic negligence? a. Where coe person gives advice to another. b. Where the advice is given in serious circumstances to a person who the advisor knew would reasonably rely upon it. c. Where the person is a professional advisot. d. Where the advice is given is relation to commercial business activities 11. Which of the following is NOT an element of an action for neglgence? a. The defendant owes the plaintiff a duty of care. b. The plaintiff's intentional beesch of the duay of care. c. The plainter has suffered a loss. d. The defendant breached their duty of care. 12. To entabish a case of occupier's liablety, a plaintief must establah that: a. the hazard was in the nafure of a 'vap' and not obvieus. b. the defendant was neglgent in not putting some protection in place or giving a waming c. the defendart has occupation or control of the land or structure. d. all of the above. 13. If someone is the "owner" of real peoperty, this meant they will have what type of interesti a. freehold b. leasehold c. mortage d. easement 14. Which of the following is not an example of personal property: a. stock b. intiellectual property C. equiponeet d. land e. shares in a compary 15. Which of the following is a feature that distinguishes tort law from contract law? a. Ton law is concersed with having the pramises of others performed. b. Tort law is private law, contract law is public law. c. In tort law, the duties which artse are mainly imposed ty law. d. In tort low, the duties are mairly imposed by the sereement between the partiet 16. Which of the following is NOT an accurate statement about the difference between tort law and crminal law? a. An action in tort is taken by the victim, criminal action is taken by the state. b. Tort law is private, criminal law is public law. C. Tort law is a state matter, criminal low is a tederal matter. d. Tort law compensates, criminal law parinhes. 17. The protections against uniair contract terms in Part 2-3 of the Australan Conumer Law apply a. generaly in trade and commerce b. to all contracts for the swe of goods and services c. to "condumer contracts" as defined in section 23(3) of the ACL. d. to "small business contracts" as defined in section 23(4) of the ACL e. bothic and d, 18. In what circumstances wil an empleyer be vicariously lable for the neglgent act of an employee? a. Always. b. Only if the employee is an independent contractor. c. Newer. d. Only if the neglgent act was carried out in the course of their employments. 19. In the centext of property law, which of the following is the best defintion of the term ' property? a. The rights or ownerstip of an object. b. Posse-sion of phyical control of as object. c. Land and anything fixed to it. d. Real property. 20. The cansumer guarantees apply to all "convumer" transactions in trade and commerce involvice the supply of goods andjor services. When will a purchaser of goods Nor be considered a 'cocoumer' under the Australian Consumer Law? a. If they purchase machinery for use in a factory valued at more than $40,000. b. If they purchase goods for personal or domestic use valued at more than 500,000 . c. If they purchase goods valued at less thas $40,000 tor use in the course of a umall business. d. If they purchame goods valued at less than $40,000 for use at heme. Part B - First problem question (10 Marks) Rory is a professional martial artist who until last year owned and operated a martial arts centre in Marion called "Extreme SelfDefence". Rory operated Extreme Self-Defence as a sole trader. Early last year Rory, who is in his earfy 60 s, decided his body needed a break from martial arts and decided to sell "Extreme Self-Defence" to one of his long-time instructors, Dave Edwards. The sale of business contract contained a restraint of trade clause which said. The vendor must not carry on a business of the same noture anywhere in the Adelaide metropolitan area for a period of three years." Last month Dave became aware that a new martial arts centre, operated by a company called Extreme Martial Arts Pty Ltd, had opened in Marion. Dave also discovered that Rory is the director of Extreme Martial Arts Pty Ltd and that Rory's wife is the sole shareholder. Can Dave enforce the restraint of trade clause against Extreme Martial Arts Pty Ltd? Please note: for the purpose of this question, you can assume that the restraint is reasonable and enforceable against Rory in his personal capacity. Part B Second Problem Question (10 Marks) Tony owns a business which makes and sells apple cider ("the Business"). Tony decides to sell the Business and is introduced to Julie who is interested in buying the Business. Tony and Julie enter into negotiations and agree on a deal. Both Tony and Julie sign the following document which Tony prepared. Heads of Agreement 1. Tony agrees to sell, and Julie agrees to buy. Tony's apple cider business 2. Purchase Price: $3.5 million. 3. All supplier agreements to be transferred to Julie. 4. All fixtures and fittings, as inspected, are included in the sale. 5. All employees to be transferred as per solicitor agreement. 6. This agreement is subject to the preparation of a formal contract of sale based on these terms. Tony arranges for his solicitor to prepare a formal contract for sale and then sends that contract to Julie. When Julie receives the contract, she calls Tony to tell him that she is no longer interested in buying the business. Tony is furious and says: "But it is too late to change your mind, you have diready signed the Heads of Agreenent. You are legally bound." Is Tony correct, is Julie legally bound to buy the Business as a result of signing the Heads of Agreement? Part B Third Problem Question (10 Marks) Ethan owns and operates a health food store in Glenelg called Nutrifucker. All of the food sold by Nutrifucker is organic, gluten-free and vegan. Nutrifucker's speciality item is the "organic vanilla quinoa smoothie." Recently, Ethan opened a second store in Uniey. Ethan hired Marcia as a full-time store manager of the Glenelg store, so that Ethan could manage the new Unley store. As part of Marcia's terms of employment, she had day-to-day responsibility for running the store, including supervising casual staff and managing customer service and food preparation. Marcia also had the authority to check and accept deliveries. However, Ethan told her not to place orders with suppliers, or otherwise make any purchases on behalf of NuteiTucker. One-day, while working in the store, Marcia was approached by Aandy who offered to supply Nutrifucker with quinoa. The price Aandy offered was much lower than the price Nutritucker was paying. Marcia, who was keen to impress Ethan, signed a 6-month supply agreement with Fandy. Untortunately, Ethan was not impressed at at. Randy's quinoa was not organic. Marcia had forgotten to request organic quinos, which is why Randy's price was low. Is Ethan liable to pay Randy for the quinoa (as per the supply agreement signed by Marcia)? Please note: for the purpose of this question, you do not need to consider any remedies that Ethan may have against Marcia. You are to consider Ethan's position with Randy only I want to see if my answer are correct
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started