HI6027 Business And Corporations Law

HI6027 Business And Corporations Law

Free Samples

HI6027 Business And Corporations Law

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

HI6027 Business And Corporations Law

0 Download8 Pages / 1,990 Words

Course Code: HI6027
University: Holmes Institute

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Question:

It is the responsibility of the student submitting the work to ensure that the work is in fact his/her own work. Ensure that when incorporating the works of others into your submission that it appropriately acknowledged.
Is there a valid contract with the 40 customers?
Can the other 10 customers make a contract with Ming if the newspaper is not produced?
Whether Ming can deny the contractual obligation on the ground that $10 is not adequate rice for a cut which is normally for $60?
Can Ming have revoked the offer by displaying the notice at the window?
Is there a partnership amid Lucy, Seamus and Koo?
Whether Lucy and Koo are liable to the purchase of the ride-on mower?
Whether Lucy breach of his partnership duties when he carried out his independent work at the weekend.
How fastcut can discover as who are persons behind the business name?
What effect will have on the death of Seamus.
How would Lucy and Koo determine the partnership property and can the property be used to cover the losses of the partnership firm.

Answer:

Law
A contract is said to be established between the parties when the basic essentials of a contract are formulated. The main ingredients are offer acceptance, consideration, intention, capacity. (Latimer 2016)
When any person desires his willingness to establish a contractual relationship upon specified terms with another party then the communication of such willingness is termed as offer in the law of contract.  An offer can be made in any form oral or written Smith v Hughes  (1857).  In Carlill v Carbolic Smoke Ball Co, (1893) it has been decided that when  an offer is made by the offeror then it is necessary that such an offer must reach the offeree in order to consider to complete in law.
Now, the approval  of the specified terms mentioned in the contract by the  offeree is called acceptance in the law of contract.  An acceptance is an indication which establishes that the offeree is willing to comply with the terms of the offer that is communicated to him.  This can be made in any form, oral or written RA Brierley Investments Ltd v Landmark Corp Ltd (1966).  However when the offer specifies the mode of acceptance then it is obligatory on the offeree that the acceptance made by him must be as per the mode which is specified in the offer.  Slight variation in the mode of acceptance will not render the acceptance invalid in law  but if the deviation is a major then it is considered as no acceptance in law.
Apart from offer and acceptance there is yet another element that is established under the law of contract and is very essential.  It is called invitation to treat.   An offer is made by the offer and when it is accepted by the offeree it results in the formation of a contract.  When a person does not exist to make any kind of offer to the public but is willing to ask for offers from a public or from certain specific kind of people out from the world at large then it is not termed as an offer, in the law of contract but it is considered as an invitation to treat (Pharmaceutical Society Of Great Britain v Boots Cash Chemists (Southern) Ltd (1953).In invitations, the inviter invites the intending parties to come forward and make an offer to him. It is upon the inviter to accept the offer or not. If the invitation is accepted then there is contract.
However at times confusion occurs when an invitation has been made but the offeror has specified the means in which the invitation is to be comply with. in Carlill vs carbolic case it has been held that when the person  makes an advertisement where few terms are established which are to be comply with then on compliance of such term it is considered as deemed acceptance. In such situation, an advertisement is not an invitation rather it is a kind of unilateral offer resulting in the formation of contract between the parties. In Thornton v Shoe Lane Parking (1970) a vending machine was considered as not an invitation to treat but an offer. (Gibson and Fraser 2014)
When any offer is made by a person then such person is liable to revoke such offer provided there is no accepted that is made. But when an offer is made through an advertisement then its revocation must also be made through advertisement to reach the public large.
Application of law
A hair Salon is run by Ming.  An advertisement is publishing by Ming wherein a special offer was made according to which any   person who will bring the advertisement will be given the haircut at a low price of dollar 10. 
Now at this stage it is submitted that normally an advertisement is considered as an invitation to treat. in the given situation  Ming while publishing the advertisement has specified the terms which must be complied by the relying party  in order to avail the offer.  So it is a kind of unilateral offer which is made by Ming and any person who comply with the terms of the offer so made results in the formation of a deem acceptance,
Now:

There is valid contract that is made amid the forty customers who has placed the advertisement before the revocation notice is displayed on the window. Since the advertisement by Ming is an invitation, thus, by providing the same to Ming an acceptance is made resulting in contract formation.
The ten customers who did not have the advertisement cannot enforce the contract unless they produce the cutting of the advertisement. This is because Ming has specified the mode of acceptance through which the offer can be availed. A slight deviation is permitted but no acceptance can be made if no advertisement is produced.
Ming cannot argue that the payment of $10 is insufficient for the promise that normally charge $ 60 because as per Biotechnology Australia Pty Ltd v Pace(1988) a consideration for a promise can be sufficient regardless of the fact whether it adequate or not.

Also, by withdrawing the offer by displaying the notice on the window is not enough. It is necessary that the revocation must be made by publishing the same in the paper so that it comes in the knowledge of people in a sufficient manner considering the fact that an offer is also made through advertisement.
Conclusion
Ming has made an offer through newspaper specifying the terms of acceptance 40 customers has made a contract with Ming but there is no contractual relationship with the other 10 customers. $10 is enough to sustain the contract as the consideration is sufficed.
Applicable law 
Partnership is one of the preferred kinds of business which is normally found in Australia.  as per Section 1  of the A partnership Act 1891, It is a business relationship which can be established by two or more persons with the aim to share profit and losses by carrying on a business on a regular basis.  To hold any business relationship as partnership the main essential requirements are: (Cassidy 2006)

The parties for establishing the partnership must be two or more
The profit and losses  must be shared by the parties;

The business must be carried with common objective;

The parties are carrying business on continuous basis.

When the business name of any partnership is registered then the name of all the partners, birth details, residential details, is requiring to provide. (ASIC 2018)
There are few rules that guide the relationship of the partners with each other and with that of the firm. The rules comprises of:

As per section 5 and 9 the partners in the firm are the agents of the firm and any act that is undertaken by the partner under its capacity will bind the firm and all the other partners.

If the agent acts outsider the capacity and makes a contract with an outsider, then, still the contract is considered to be binding if the outsider can prove that the contract that is established with the partner is made in good faith and on the belief that such partner has the requisite authority (Polkinghorne v Holland (1934) & Mercantile Credit Co Ltd v Garrod [1962].

As per section 29 one of the duties that is imposed on the partners of the firm is that the partners must not indulge in any acts that results in the generation of any kind of secret profits and if any secret profits is generated then the same must be accounted to the other partners of the firm (Powell v. Powell(1932).

As per section 20, the partnership property is the property which is bought in the firm for its use to comply with the partnership objectives.

Also, as per section 32, the partnership that is established amid the parties cease to exist if any of the partners to the firm dies
Application of law
Lucy, Seamus and Koo are friends. Lucy owns a truck (removes the clippings in the truck), Seamus owns a lawnmower (cuts the grass) and Koo has a computer (keeps the accounts). They are carrying a LuSeKo Mowing services, which has their registered business name.
Issue 1
It is submitted that there cannot be any partnership relationship that can be established amid Lucy, Seamus and Koo because of the following reasons:

The foremost aim of any partnership that is established amid the parties is to earn and share profits. However, all the three friends that is Lucy, Seamus and Koo does not intend to share profits nor this concept was ever discussed by them;
The business that is carried on by them was not intending by them to be carried on continuous basis as they are students and are carrying on the activities as their hobby.

Thus, there cannot be any partnership relationship that can be established amid the three friends.
Issue 2
 It is now assumed that Lucy, Seamus and Koo are in partnership, now,
It is submitted that Lucy and Koo are liable to the purchase of the ride-on mower. It is submitted that as per section 5, the partners of the partnership firm are considered to be the agents of the firm and has the capacity to  bind the firm by their actions.
Thus, Lucy, Seamus and Koo are the partners and any act that is incurred by Seamus will bind both Lucy and Koo. However, Lucy and Koo can submit that since Seamus is not authored to purchase the property thus they are not bound by the transaction .
It is submitted that if FastCut Mowers can prove that when they were dealing with Seamus they are of the view that the Seamus has the requisite authority to bind the partnership firm and that it is acting in good faith, then the contract amid Seamus and Fast Cut is binding on the firm.
Issue 3
 Lucy is found to be in breach of his partnership duties when he carried out his independent work at the weekend. The duty is considered to be violated mainly because he is using the property of the firm for his personal use and making secret profits out if the same which is he is depositing in his personal account. Thus, there is clear violation of section 29.
Issue 4
If Fast Cut intends to find the name of the individuals then it can do so by availing to ASIC as he name of the partnership is registered and thus the indentify of all the three must be provided to ASIC.
Issue 5
 If Seamus dies then as per 20 the partnership amid the three friends is dissolved and a new partnership has to be carpeted amid Lucy and Koo.
Issue 6
Lucy and Koo can determine the partnership property by analyzing whether the property is used in the compliance of the partnership aim. It is submitted that the Lucy owns a truck, Seamus owns a lawnmower and Koo has a computer. They are using the property for the compliance of their partnership objective. Now, since the truck, computer and lawn owner is used as partnership property then it can be used to satisfy the losses of the firm.
Reference list
Books/Articles/Journals
Cassidy, J, ‘Concise Corporations Law’, 2006, Federation Press.
Gibson, A. and Fraser, D 2014, Business Law. 8th ed. Sydney: Pearson Publications.
Latimer, P 2016, Australian Business Law 2016, Oxford University Press.
Case laws
Biotechnology Australia Pty Ltd v Pace (1988) 15 NSWLR 130
Carlill v Carbolic Smoke Ball Co, (1893).
RA Brierley Investments Ltd v Landmark Corp Ltd (1966)
Smith v Hughes  (1857)
Mercantile Credit Co Ltd v Garrod [1962] 3 All ER 1103.
Powell v. Powell (1932) 32 SR (NSW) 407;
Polkinghorne v Holland (1934) 51 CLR 143.
Online Material
ASIC (2018) Registration of Business Names  < https://asic.gov.au/for-business/registering-a-business-name/steps-to-register-your-business-name/what-business-name-holder-details-you-need-to-provide/>.

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.

E-mail

Yes, alert me for offers and important updates

Submit 

Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 8 pages

PAY 5 USD TO DOWNLOAD

*The content must not be available online or in our existing Database to qualify as
unique.

Cite This Work
To export a reference to this article please select a referencing stye below:

APA
MLA
Harvard
OSCOLA
Vancouver

My Assignment Help. (2021). Business And Corporations Law. Retrieved from https://myassignmenthelp.com/free-samples/hi6027-business-and-corporations-law/parties-carrying-business-on-continuous.html.

“Business And Corporations Law.” My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/hi6027-business-and-corporations-law/parties-carrying-business-on-continuous.html.

My Assignment Help (2021) Business And Corporations Law [Online]. Available from: https://myassignmenthelp.com/free-samples/hi6027-business-and-corporations-law/parties-carrying-business-on-continuous.html[Accessed 18 December 2021].

My Assignment Help. ‘Business And Corporations Law’ (My Assignment Help, 2021) accessed 18 December 2021.

My Assignment Help. Business And Corporations Law [Internet]. My Assignment Help. 2021 [cited 18 December 2021]. Available from: https://myassignmenthelp.com/free-samples/hi6027-business-and-corporations-law/parties-carrying-business-on-continuous.html.

×
.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}

×

Thank you for your interest
The respective sample has been mail to your register email id

×

CONGRATS!
$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1
month.

Account created successfully!
We have sent login details on your registered email.

User:

Password:

A research paper is incomplete without a thesis statement. But if you have been asking yourself ‘what is a thesis statement?’ then you need the best professional thesis help from Myassignmenthelp.com. The experts will guide you on writing a compelling thesis statement. The PhD writers have the expertise required to draft a perfect thesis proposal. If you wish, you can check some examples of a thesis statement from our website too.

Latest Management Samples

div#loaddata .card img {max-width: 100%;
}

MPM755 Building Success In Commerce
Download :
0 | Pages :
9

Course Code: MPM755
University: Deakin University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answers:
Introduction
The process of developing a successful business entity requires a multidimensional analysis of several factors that relate to the internal and external environment in commerce. The areas covered in this current unit are essential in transforming the business perspective regarding the key commerce factors such as ethics, technology, culture, entrepreneurship, leadership, culture, and globalization (Nzelibe, 1996; Barza, 2…
Read
More

SNM660 Evidence Based Practice
Download :
0 | Pages :
8

Course Code: SNM660
University: The University Of Sheffield

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Answers:
Critical reflection on the objective, design, methodology and outcome of the research undertaken Assessment-I
Smoking and tobacco addiction is one of the few among the most basic general restorative issues, particularly to developed nations such as the UK. It has been represented that among all risk segments smoking is the fourth driving purpose behind infections and other several ailments like asthma, breathing and problems in the l…
Read
More
Tags:
Australia Maidstone Management Business management with marketing University of New South Wales Masters in Business Administration 

BSBHRM513 Manage Workforce Planning
Download :
0 | Pages :
20

Course Code: BSBHRM513
University: Tafe NSW

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…
Read
More

MKT2031 Issues In Small Business And Entrepreneurship
Download :
0 | Pages :
5

Course Code: MKT2031
University: University Of Northampton

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Answer:
Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Read
More
Tags:
Turkey Istanbul Management University of Employee Masters in Business Administration 

MN506 System Management
Download :
0 | Pages :
7

Course Code: MN506
University: Melbourne Institute Of Technology

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Introduction
An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Read
More
Tags:
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology 

Next

Our Essay Writing Service Features

Qualified Writers
Looming deadline? Get your paper done in 6 hours or less. Message via chat and we'll get onto it.
Anonymity
We care about the privacy of our clients and will never share your personal information with any third parties or persons.
Free Turnitin Report
A plagiarism report from Turnitin can be attached to your order to ensure your paper's originality.
Safe Payments
The further the deadline or the more pages you order, the lower the price! Affordability is in our DNA.
No Hidden Charges
We offer the lowest prices per page in the industry, with an average of $7 per page
24/7/365 Support
You can contact us any time of day and night with any questions; we'll always be happy to help you out.
$15.99 Plagiarism report
$15.99 Plagiarism report
$15.99 Plagiarism report
$15.99 Plagiarism report
$3.99 Outline
$21.99 Unlimited Revisions
Get all these features for $65.77 FREE
Do My Paper

Frequently Asked Questions About Our Essay Writing Service

Academic Paper Writing Service

Our essay writers will gladly help you with:

Essay
Business Plan
Presentation or Speech
Admission Essay
Case Study
Reflective Writing
Annotated Bibliography
Creative Writing
Report
Term Paper
Article Review
Critical Thinking / Review
Research Paper
Thesis / Dissertation
Book / Movie Review
Book Reviews
Literature Review
Research Proposal
Editing and proofreading
Other
Find Your Writer

Latest Feedback From Our Customers

Customer ID:  # 678224
Research Paper
Highly knowledgeable expert, reasonable price. Great at explaining hard concerts!
Writer: Raymond B.
08/10/2021
Customer ID: # 619634
Essay (any type)
Helped me with bear and bull markets right before my exam! Fast teacher. Would work with Grace again.
Writer: Lilian G.
08/10/2021
Customer ID: # 519731
Research Paper
If you are scanning reviews trying to find a great tutoring service, then scan no more. This service elite!
Writer: Grace P.
08/10/2021
Customer ID: #499222
Essay (any type)
This writer is great, finished very fast and the essay was perfect. Writer goes out of her way to meet your assignment needs!
Writer: Amanda B.
08/10/2021
Place an Order

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00
×

Powered by essayworldwide.com

× WhatsApp Us