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Partnership Business: Smith's unauthorized purchasesIssue In this paper, the issue to be discussed is whether Mary and Used Trucks Ltd recover the payment from Road Measuring Professionals for delivering the equipment and truck. Law The Partnership Act, 1892 (NSW) deals with the formation of a partnership business in Australia. According to section 1 of the above-mentioned Act, when a collaboration between two or more individuals...
PurposeThe basic functions of taxations are as follows; Funding government expenditure: The most important vital function of tax is to fund the expenditure of government. It provides varying amount of justifications and explanation for taxes that has been offered all through the history. Previously, taxes were used in supporting the “ruling classes”, increase armies and create defences (Saez and Stantcheva 2018). Later expl...
Australian Consumer Law and Unconscionable ConductIt is to be determined whether a valid contract was formed between The Bolton Connect Pty Ltd and Rofi in relation to the chosen case study considering the clause of unconscionable conduct According to Knapp, Crystal & Prince (2016), it can be said that action or statement will be considered to be unconscionable conduct if it is unreasonable and defies good conduct. However, it is to be s...
Sale of Goods Act 1957 and Implied ObligationsThis section of the report analyses the various provisions of the sale of goods in Malaysia as defined as Sale of Goods Act 1957. It must be noted that consumers are always considered as parties with weaker bargaining power, and because of this there is need to protect the consumers through effective laws. However, present provisions of the sales of goods Act 1957 are outdated because it does not r...
Legal principles governing Torrens title and leasesIn any legal system, contract and consumer law are the two elements which are considered to be integral in the arena of civil. It is also the case of Australian legal system. Apart from that, property law is another element, which is also emphasized to a great extent under every legal system. Considering this fact, focus of the present assignment would be on discussing provided cases on torre...
Assessment of Building ABusiness pathology defines two major work processes include Producing information that will assist in the effective management of service loss and developing methodologies for assessment of defects and failures and consequential service loss. Three types of deteriorations can be found in any construction namely, Dampness, Bio-decay and Cracking (Kumar & Gardoni, 2013). The purpose of the inspection is to identify the ...
Tax liability of partnersAssessable Income of Partnership Business Division 5 of Pt of III ITAA deals with the principles concerning partnership taxation. These are applicable to all types of partnership exclusive of limited corporate partnership. It is stated by Morse and Deutsch (2015), that, the main purpose of this division is to inflict the tax on the partners rather than partnership which is obliged to be the individual taxpayer....
Contracts of sale of goods A. The very sole objective for the Sale of Goods Act, 1908 is to keep track, monitor the monetary transaction which initiates the sale process regarding the commodity. It states that the one who sells the product has assurance regarding the quality. The assurance concerning the commodity in respect of what is being sold and laws concerning such. It brings out the policy, regulations, and duties which are imposed u...
Case SummaryThe case is between the Owners Corporations and Lu Simon Builders Pty Ltd and others before the Civil Division of the Victorian Civil and Administrative Tribunal at Melbourne. The facts of the case imply the breach of contract on part of Lu Simon by acting in contravention of the warranties as per the provisions enshrined and envisaged in the Domestic Building Contracts Act of 1995. The hearing before the Civil Divisi...
Liabilities and Rights conferred by Doctrine on Undisclosed PrincipalsThe undisclosed agency, whether an undisclosed principal can be legally bonded with a third party by an agent who had limited authority. In common law, the term undisclosed principal denotes a person or corporation principal whose existence is only known by the agent, but not the third party who forms the agreement with the agent. The lack of the information about t...
Effects of road congestion on economic efficiency and negative/positive externalitiesThis paper gives an over view of the economic and social issues associated with reducing the congestion in Brisbane city. It describes the effects of road congestion on the economic efficient of the market equilibrium. It also explains both the negative and positive externalities involved in this congestion. The research paper also explains the policies ...
Liability of Promoters under Pre-incorporation ContractsThe key issue, in this case, is whether Steve can be held personally liable for the contract formed by him on behalf of the company? While managing their operations in Australia, companies are subject to a wide range of legal regulations which they have to comply with in order to avoid penalties. The Corporations Act 2001 (Cth) applies throughout Australia, and it provides provisions w...
Case Study: A Contract for the Purchase of JewelleryIn this report through a case study the contract law is going to be discussed. The concept of agency as par the contract law is going to be the focus of this case. The role of agency in case of making a contract with the third party is going to be discussed in this case. The liabilities and duties of the agent under the contract law have been evaluated. The rights and obligation of the third ...
Changes in the constitution of a companyIntroduction: Changes in the constitution; ability of the minor to keep a check on the changes and contractual powers of the company Kody and Ryder completed their graduation from USC. They want to carry on business of exceptional handmade gifts and craft which they can sell online with the name Incredible Gifts Pty Ltd. Now, there are series of transactions that took place which has resul...
Background of Perfection Sdn. Bhd.The Companies Act 2016 has been enacted in Malaysia which has replaced the previous act titled Companies Act 1965. The act has come into the force from 31st January 2017 along with Companies Regulations 2017. The objective of this act is to modernise corporate regulations, reduce the costs of compliances, facilitate economic growth, and remove corporate conflicts (EY, 2017). The act is targeted towards ...
Liability of John with respect to the goods sold to John's supermarket worth $45,0001.Issue Whether AFS Grocery Store has any rights to seek payment from John with respect to goods sold to John’s supermarket that was worth $45000. Rules A person can enter into a contract with the help of his/her agent. In commercial transaction mostly, it does not remain possible for an owner of a business to get personally involved in every tra...
Procurement Methods for Construction ProjectsThis report aims to discuss the positive and negative aspects of the three procurement methods for construction projects. The advantages and the disadvantages of the design-bid-build method is clearly discussed in this report. The advantages and the disadvantages of the design build method is stated in this report. The advantages and the disadvantages of the construction methods is clearly stated in...
Traditional yardsticks of measuring success of civil construction projectsCivil construction projects are extremely complex and expensive. They are undertaken to develop the infrastructure of regions and play very important role in economic development. These construction projects are parts of the infrastructure development plan governments of different countries take and commence under the supervision of relevant ministry. The traditional yar...
Pryor v Given: Misleading CustomersAn old tribe situated in the forest of South Africa has relied on traditional ways to handle the disputes between two tribe members relating to any violent act. Now the tribe has established a new constitution which will make the process of adjudication more formal by defining the roles and penalties imposed on the guilty parties. There are various rules established in the constitution in order to protect t...
Functions of taxation in AustraliaQuestion 1 All citizens are required to mandatorily pay tax if their income is more than the minimum threshold. The tax is collected by the government so that it is able to carry out its basic functions. The money collected through various forms of taxes provides the resources required by the government to be able to carry out their functions. It also ensures that the government is able to target income inequ...
Income details of Bruce LeeWith the changes in economic condition and ramified taxations policies, tax calculation in Australia has been changing time to time. Every individual needs to assess their tax amount on the basis of tax slab rate and taxation polices. In this report, computation of the tax of the individual has been done on the basis of shared information and considering the tax policies and rules. It deals with the practical scenari...
Legal analysis of exclusion clauseThe critical issue is to opine on the applicability of the exclusion clause and thereby highlight the legal rights available to Batty with regards to demanding compensation from Qualal Motors for the damages suffered. The critical aspect that requires analysis is the concept of exclusion clause and the applicability of the same. Exclusion clause may be defined as a term in the contract which serves to prot...
Application of the Doctrine of Precedent in AustraliaThe doctrine of precedent is a principle of the judicial system which has been introduced so that the judicial structure becomes more efficient, certain and consistent with respect to the application of law. The doctrine is a fundamental constraint on the way in which judicial decisions are made in Australia. The primary idea behind the doctrine is that when the judges are deciding a case ...
Competency and Capacity of the PartiesOne of the essential elements of a valid contract is the competency and capacity of the parties to enter into a contract. Among the factors like maturity of age and soundness of mind, parties are required not to be barred by law and pre-existing contracts to be capable of contracting. When a party is involved in a contract with a company for a particular work, the party cannot engage with another company f...
Assessment of net capital loss or net capital gainThe first requirement seeks to assess the net capital loss or net capital gain of the client based on the information provided about its various assets during the present financial year. In addition to this, the first requirement also addresses the consequence of income tax due to occurrence of transactions during the particular financial year. The client provides information about tax that a c...
