ASSESSMENT GUIDE LEGL601 Commercial and Corporations Law Semester 2, 2022 Assessment number 2 Assessment Artefact: Open Book Exam Weighting [30%] Marks [30] Why this assessment? Skill Type Developed critical and analytical thinking ☐Yes Developed ability to solve complex problems ☐Yes Developed ability to work effectively with others ☐No Developed confidence to learn independently ☐Yes Developed written communication skills ☐Yes Developed spoken communication skills ☐No Developed knowledge in the field study ☐Yes Developed work-related knowledge and skills ☐Yes What are the types of employability skills that I will acquire upon completion of this assessment? Assessment Overview: Due date: Monday, 11 October 2022 Weighting: 30% Length and/or format: Structure is provided below. Learning outcomes assessed LO2 and LO3 Graduate attributes assessed GA5 and GA6 How to submit: Open Book Exam Return of assignment: Open Book Exam Assessment criteria: See outcome focused rubrics in Appendix 1. Context Question 1 (20 marks) Gonzo is a recently appointed director of U R Saved Pty Ltd‘, a corporation formed for the purposes of assisting businesses which have IT problems. He is one of 10 directors of that corporation. Upon his appointment as a director, Gonzo became concerned about the future financial profitability of the company. He decided that he should explore new opportunities for the company, in order to ensure its financial future. Gonzo approached several businesses which his company had already been dealing with in offering their IT services over the past few years. One of the companies Gonzo approached was Travel Services R Us Pty Ltd‘. This was a very profitable company which offered internet travel sales. U R Saved had previously provided IT services to Travel Services R Us. It appeared that Travel Services R Us was looking for new investors in order to expand the range of products it had been offering. After some consideration, Gonzo decided that this was a very risky and speculative venture and not suitable for U R Saved. He convened a meeting of all directors where made his concerns known to the Board. An independent review of the investment was also made by an accounting practice who confirmed their advice in a separate letter to the Bard and Gonzo. But he did believe that this was an opportunity that he would like to take up, so he would invested his own money in the project. Gonzo advised the Board in writing of his intention but he did not receive any reply. Gonzo invested $100,000 and within six months of his investment he has made a profit of $1.5 million for himself. Advise Gonzo of any duties that he may have breached as a director of U R Saved and of any civil or criminal penalties that may result. Question 2 (10 marks) There are certain assumptions that exist that play a role in assisting a third party who deals with a company? Discuss the significance of these assumptions and their function in modern commercial practice. You answer should refer to both common law and statute. Instructions Word Limit 1000-1250 words Referencing Not applicable Students are required to follow all instructions given by the Examination Supervisors. a. All answers must be written in the separate answer booklet. b. Write your name and student ID in the top section provided. c. Pages are not to be separated and no part of the exam paper is to be removed from the examination room. d. Hard copies of dictionaries and programmable calculators are not permitted. e. This is an open book exam f. Mobile phones and unauthorized personal electronic devices must be switched off and kept away from physical contact. Some Helpful Websites and Resources www.austlii.edu.au Referencing All referencing should be in APA 7 style referencing. Please ensure your assignment makes use of in-text citations and a reference list. Missing citations or references is equivalent to plagiarism. Criteria The full criteria is compiled in a rubric, which can be found on the following page/s. Appendix 1: Rubric for Open Book Exam 30% Relevant LO/GAs GA5 LO2 TL3 LS=I 40% GA6 LO4 TL3 LS=D 60% Criterion (related to a single GA from the related LO – one GA per criterion Identify relevant background facts and legal principles and set out the argument/the me, key issues and the structure that follows. Apply relevant legal principles and analysis from different perspectives to the facts of the problem Does not meet expectatio ns NN Meets expectations Exceeds expectations PA DI HD Sophisticated and insightful critical analysis. Coherent flow of argument (integrates counter arguments in a sophisticated way) following structure set out in introduction and proving stated thesis. Exceptional skills in in finding and making reference to the relevant statutory and case law CR Inadequate or insufficient analysis. Provides few or no identifiable arguments. Adequate but limited assessment. Attempts to develop argument but may be poorly expressed and structured, which hampers its clear articulation. Clear analysis. Evidences a reasonable flow of argument. Well developed and objective critical analysis. Follows a coherent flow of argument (including addressing of counter arguments) Limited or insufficient reference to the relevant statutory and case law. Satisfactory skills in finding and making reference to the relevant statutory and case law Competent skills in finding and making reference to the relevant statutory and case law Highly accomplishe d skills in finding and making reference to the relevant statutory and case law GA – Graduate Attribute; LO – Learning outcome; TL – Bloom’s Taxonomy Level (or level of complexity); Learning Stage – Introduced (I), Developed (D), Assured (A) References: Australian Corporations Legislation, (latest edition), Butterworths. Ciro, T; Goldwasser, V and Verma, R, (latest edition), Law and Business, latest edition, Oxford University Press. Corones, S. (latest edition), The Australian Consumer Law, Lawbook Co. Cusumano, S; Wiseman, L; Christensen, S, (latest edition), Butterworths Tutorial Series - Contracts, LexisNexis Butterworths. Hanrahan, P; Ramsay, I; Stapledon, G, (latest edition), Commercial Applications of Company Law, 11th edition, CCH. Harris, B, (latest edition) Constitutional Law Guidebook, The Federation Press. Lipton, P; Herzberg, A, (latest edition), Understanding Company Law, Law Book Co. Radan, P; Gooley J; (latest edition) Principles of Australian Contract Law, latest edition, LexisNexis. Terry, A; Giugni, D, (latest edition), Business and the Law, latest edition, Cengage Learning. Paterson, J; Robertson, A and Duke A, (latest edition), Principles of Contract Law, latest edition, Thomson Reuters. Turner, C; (latest edition), Australian Commercial Law, latest edition, Thomson Reuter 
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