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Term 1 STANDARD Examination 2017 Australian Commercial Law - LAWS20058 TOTAL 60 MARKS Answer all questions Question 1 40 Marks Susan and Keith are good friends. Keith owns a pharmacy. One day, Susan tells him that she has lost her job. Keith says, "If you buy a car, I will give you a job as a courier for my pharmacy". A week later, Susan has had no success in getting a job, so she decides to go out and buy a car in order to get the courier job. She lives near the city, so she has no need for a car otherwise. When she tells Keith that she has bought a car and wants the courier job, he says that he has hired someone else, and cannot give her the job. Provide the following advices: (a) Is there a binding contract for Keith to employ Susan as a courier? You should consider all elements of contract in your answer, but make sure that you include an answer to this question: If Susan did argue that there was a contract, how does the consideration here resemble the consideration in the Carbolic Smokeball case? (15 Marks) 2 (b) How could Susan argue that there is an estoppel preventing Keith from refusing to employ her as a courier? (5 Marks) (c) Could it be argued that Keith has engaged in misleading and deceptive conduct under the Australian Consumer Law? Give reasons for your answer. (10 Marks) (d) Explain why this is NOT a case where Keith could be sued for negligence or negligent misrepresentation. (10 Marks)Kldda Corporation is a Klngsto n- based manufacturer of automobile parts. In earty January 2020, the company acquired land and a building to be used as the company's new head office. Kidda Corp issued a S 2 million, five-year non-lnterest-bearing note to the seller. Payment Is to be made In flue equal instalment: of 5 490,000 at the end of each year. As a result of a depressed real estate market, the fair value of the building cannot be readily determined. However, it has been ascertained that, given Kidda Corp's credit rating and market conditions, an interest rate of 9% would properly reect the substance and credit risk of the negotiated payment schedule. Other information: 1. One-d1 ird of the total value of the acquisition is attributable to the land. 2. The building ls expected to have a useful life of25 years