LAWS2001: Academic Integrity is an Accepted Foundation - Law Assignment Help

Assignment Task:

Task:

* Note: students with approved adjustment to the duration of ‘timetabled exams’, via Student Access & Inclusions — please apply your adjustment to two hours. 
We advise you to read the instructions and questions carefully before you begin writing; however, you are allowed to begin writing your answers straight away if you wish.
Academic Misconduct: As this is an exam your paper should be entirely your own work and you are not permitted to discuss your answers with other students. This means you must not communicate with other students or any other person about the questions and your or their intended answers until after the exam is completed and submitted. Severe penalties apply for any form of academic misconduct, including plagiarism or false declarations made concerning plagiarism. The rules relating to plagiarism are set out in the Rules concerning all law assessments in the MySCU Intranet site for this unit.  
SCU Rules Relating to Awards
 

Rule 3
Section 18 - Academic Integrity
(104) Academic integrity is an accepted foundation of excellence in ethical scholarship. Courses and units of study and assessment tasks are designed to educate student in ethical values and the meaning and practice of academic integrity.
(105) The Rules - Student Academic and Non-Academic Misconduct Rules provide the framework for dealing with academic misconduct when it occurs and the fair, reasonable and consistent application of penalties for such misconduct.
(106) All staff are expected to be aware of the values and practice of Academic Integrity, to provide students with a solid foundation in how to practice academic integrity, to take a fair and consistent approach where academic misconduct is suspected or found and to comply with the Rules - Student Academic and Non-Academic Misconduct Rules in referring academic misconduct allegations.
(107) All students are expected to practice academic integrity and to be aware of and comply with the Rules - Student Academic and Non-Academic Misconduct Rules along with all other relevant Rules, Policies, Procedures and the Code of Conduct.
Section 19 - Academic Misconduct
(108) Refer to the Rules - Student Academic and Non-Academic Misconduct.
SPECIAL INSTRUCTIONS:
This examination carries 50% of the total assessment for this unit;
Attempt any FIVE (5) questions from a choice of six (6) questions;
All questions are of equal value;
Unless otherwise stated assume any company in fact situations in this examination uses the replaceable rules as its constitution; and
Importantly give full reasons for your conclusions and support your answers with appropriate legal authority.
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COVER SHEET: Please include the completed electronic cover sheet(see below) with the signed plagiarism declaration asthe first page of your exam.  

Question 1 (10 marks)
Julian is a successful hairdresser at a busy hair salon but is keen to start his own salon. However, Julian knows he will need a general manager to carry out the administrative and marketing side of the business. Terrence is an experienced business person, with a marketing background.
Julian and Terrence meet for lunch and decide they would like to go into business together running a new hair salon called “Snippy Snip”. Over lunch they decide the following matters:
Julian will contribute $35,000 in starting capital and Terrence $10,000.
Julian will do all the hair styling and run the day to day management of the salon. Terrence will undertake any administrative or marketing work that is required from time to time.
All profits and losses will be shared evenly.
All transactions over $10,000 need to be agreed by both of them.
No formal document is drafted as they do not trust lawyers. The following week, they meet with a hair salon product supplier and do not refer to each other as ‘partners’ but as ‘associates.’
With reference to relevant case law and legislation, discuss whether Julian and Terrence are in a partnership?
Question 2 (10 marks)
With reference to at least one case, explain the fiduciary duty of promoters and in what circumstances promoters will be liable for pre-registration contracts entered into on behalf of a company.
Question 3 (10 marks)
Sally and Tom together own 92.5% of the shares in White Knight Telecommunications Pty Ltd (White Knight). The remaining 7.5% of shares is owned by Peter.
For commercial reasons, Sally and Tom are keen to obtain all of the shares in White Knight. They put forward a resolution which will alter the constitution allowing them to compulsorily acquire the remaining 7.5 % of the shares in White Knight. Sally and Tom do not bother to obtain a valuation of the shares but offer $500 to Peter for his shares.
The resolution is passed. Peter is very unhappy.
Advise Peter as to any general law limitations on the power of the majority to alter the company constitution. (Do not discuss any statutory remedies here)

Question 4 (10 marks)
Coffee Guy Pty Ltd (CG) is a company that sells wholesale coffee beans and operates a number of coffee shops across Australia. Jeff and Arlo are brothers and are the only directors of CG. They also own 70 % of the shares in CG. Roxanne owns 9% of the shares and the remainder is held by a large group of individual shareholders.
At a recent company meeting, CG resolved to enter into a contract with Marketing Maniacs to undertake all of CGs marketing and social media. The company also resolved to pay Jeff and Arlo a bonus of $20,000 each, in addition to their salaries.
Roxanne has obtained information which shows that Marketing Maniacs is owned by Jeff and Arlo’s sister, Trixie. This was not disclosed at the meeting and the amount paid to Marketing Maniacs is far in excess of other similar marketing contracts.
Assume that Jeff and Arlo have breached their duties to act in good faith and in the interests of the company and the duty to avoid conflicts of interest. CG refuses to take legal action against the directors.
Advise Roxanne whether the court will grant her leave to bring a statutory derivative action under ss 236/237 of the Corporations Act 2001 (Cth).
Question 5 (10 marks)
Explain the following two external administration processes and the distinctions between the two:
1. Voluntary Administration; and
2. Receivership.
Question 6:
Explain:
equity finance and debt finance; and
three reporting obligations companies are subject to.
 

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