Peter Case Study - Purchased Car - Business Judgement Rule - State Rail Authority - Business Assessment Answer

Assignment Task:

Peter Case Study Business Assessment Answer

Assignment 1

QUESTION A: 

Peter, a second-hand car dealer, purchased a car in the wholesale market for $15,000. Peter contracted to sell the car to David for $20,000, but David refused to take delivery of the car. Peter sued David for breach of contract.

Requirement:

• What damages can Peter claim? 
• If Peter later sells the car to another purchaser for $18,000, what damages, if any, would Peter be entitled to?

QUESTION B: 

Write a short letter of advice to a client whom has approached you, about which business structure would be best suited to the client setting up a small coffee shop.

QUESTION:

P agreed to buy 100 barrels of widget oil, which was stored in a large tank at D’s depot. The tank contained a total of 10,000 barrels of widget oil. Before separating and barrelling P’s oil, the equivalent of 1,000 barrels of oil leaked from D’s tank. D then refused to deliver to P, claiming that the 1,000 barrels that leaked included her 100 barrels and that she would have to bear the loss. When P refused to pay, D wishes to sue her for the price. Discuss.

Assignment 2

PRESENTATION QUESTION – CHOOSE ONE (1) QUESTION TO PREPARE SCRIPT / REPORT & PRESENT

QUESTION 1 Discuss the significance and operation of the Business J udgment Rule

QUESTION 2 Codelfa contracted with the State Rail Authority to excavate tunnels to do the concrete work on the construction of Sydney’s Eastern Suburbs Railway. Various stages of the work were to be completed by certain dates, and the whole contract was to be completed within 130 weeks. Due to building noise, local residents applied for and were granted Injunctions to restrain work during the night, and as a result, Codelfa could not complete the contract on time.

Required:

1. Can a Term be implied into a contract to require the State Rail Authority to give an extension of time?

2. Discuss the legal condition of the Performance of the contract.

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