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Question:
Each individual assignment submitted is to be a students own work. Any other sources used (including by consultation with any other person) are to be acknowledged and appropriately referenced.
The following factors will have an impact on the assessment of answers to the assignment questions (please refer to the assessment rubric on Blackboard for detail):
1. Knowledge, content and application
demonstration of knowledge of the relevant course material
correct application of course concepts and the law
conclusions to be based on legal reasoning
relevance to the questions
evidence of critical thinking and analysis
appropriate use of authority (case law and legislation) to support analysis and conclusions
completeness / comprehensiveness of the answer
Advise Joe Johnson in relation to any potential equitable, common law and statutory liability Provide relevant statutory law and/or case law as authority for your answer.
Advice ASIC on whether Brian, Rakesh and Michael have breached any of their general lawand/or statutory duties as a directors and outline the remedies and/or penalties which would apply if any general law and/or statutory directors duties have been breached.
1. Identify the directors duty which is relevant to the facts in the case study, based on the conduct of the director/s. State the name of the duty. Identify both the general law duty and statutory duty (unless only one is required in the question).
a. Classify the directors duty as general law (common law or equitable; fiduciary or non–fiduciary) or statutory.
b. Define the duty: state the general law definition or the statutory definition from the relevant section of the Act and explain the meaning of the duty.
2. Analyse the duty:
a. State the principles which apply to the duty,
b. State any rules which may apply,
c. Examine the tests used to determine compliance with or breach of the duty,
d. State what standard is used in certain circumstances, for example, for assessing
a directors conduct or state of mind,
Students will be presented with case studies on directors’ and officers’ duties incorporating legal issues taken from Modules 3 and 4.
Students are required to answer all questions on each of the case studies and submit their written responses via Turnitin on Blackboard.
1. Identify the risks of liability arising from diverse sources for both the company and its officers and, in particular, define directors duties and the consequences of breaching those duties;
2. Describe the financing of companies by debt and equity, the rules and restrictions in place to protect creditors and shareholders as well as the rules regulating fundraising;
3. Use skills, including analytical and deductive reasoning, in applying the above knowledge, rules and principles of corporations law to factual situations which could arise in practice, in order to solve a problem perceptively and creatively or to have sufficient understanding of the legal issues to know what questions to ask when referring the matter for legal advice.
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