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IssueWhether the law of agency provides any right to roger via which he can sue GARC in relation to the loss incurred in cucumbers. There are various ways in which an agency can come to existence. These ways include ways such as expressed authority, implied authority, apparent authority and agency by necessity or emergency. Under the agency of necessity, a relationship of agent and principle can be created if there is a situation of emergen...
IssueWill the taxpayer be held liable for fees derived under the “subsection 25 (1) of the ITAA 1936” as the income from the ordinary concepts? The case study also revolves around the issue regarding whether the prize winning from body building would be treated as ordinary income under the ordinary concepts of “section 6-5”? Whether the taxpayer in the present case would be held taxable for the gifts amounts that is recei...
Main Reasons Business Disputes Must be Resolved in Court1: Generally speaking, precedent can be described as the authority or the guidance of past decisions regarding their future cases. Only the decisions that provide a new rule or principle can be described as judicial precedent. However there are different principles that are related with the application of such judicial decisions under the common law. These principles are known as the doctri...
Residency Test for Tax PurposesThis letter is written to you to respond on Income Tax Obligations involving residency in Australia even though this is not your native home. The most general way of determining whether a person is an Australian, is by considering the persons facts and circumstances in relation to the Common Law and Statutory test carried out to determine ones residency. One is considered an Australian Resident if the person &lsquo...
Witnesses Not Competent to Give Evidence Due to Mental, Intellectual and Physical DisabilityAnswer 1 Under section 128 of Evidence Act 1995, Privilege with concern to self-discrimination is where; witness objects in providing particular evidence on the basis that the evidence might prove that witness might have committed a crime against or arising under Australian law of a foreign country or is liable to a civil penalty (Lewis, 2005). &lsqu...
Background and ContextSupreme powers have been provided to the company’s directors in Australia to manage the operations of the corporation through the application of s 198A of the Corporation Act 2001 (Cth)[1]. The company’s directors have full power to look after the working of the organization. However, the powers of the directors have been restricted by the rules of the both common law and statutory law in Australia the obj...
Duties of Directors under the Corporations Act, 2001 (Cth)There are several duties that have been mentioned for the directors of corporations by the common law, statutory law and company's constitution. The statutory duties imposed on the directors are mentioned in the Corporations Act, 2001 (Cth). In this work, the statutory and common law position of the above-mentioned directors has been discussed. In the present case, Vesna convinced th...
Background of the Case The main issue of the case is to determine whether Cruisers can take any action against Donald for non-compliance of the offer or not. The subject matter of the case is based on the basic principle of acceptance and compliance of an offer. Offer is one of the main elements of contract. According to the Contract law, a contract could be regarded as valid on meeting certain requirements. Offer is a willingness of the person...
Case 1: Dhingra v. Dhingra, 2012 ONCA 261 (CanLII)The present article comprises of the relevant acts that can followed in regard to certain specific cases. The summaries of the five different cases are followed so as to be able to understand the particular course of action for the cases. Case 1: Dhingra v. Dhingra, 2012 ONCA 261 (CanLII) Should the public policy rule apply when the person who has committed the crime is found not crimin...
Net profits and dividend payouts a) Dividend to be received in May 2018 (in $) = Net profit for 2018 x share % x dividend pay-out ratio = 600000 x 15% x 75% = 67,500 Dividend to be received in May 2019 (in $) = Net profit for 2018 x (1 + growth rate) x share % x dividend pay-out ratio = 600000 x (1 + 30%) x 15% x 75% = 87,750 Amount required in late May 2019 (in $) = 100,000...
Causes of social injustices and inequalitiesSocial injustice and inequity have contributed significantly to technical operations failure. The authorities at the international and national levels try to determine the primary cause of the social injustices, exclusion, and disparities. It is an issue that requires collaboration for both public and the government to achieve fairness in the society. The study will focus on the exclusion, soci...
Introduction and Definition of Business LawBusiness law can be defined as a regulatory body of law responsible for the simultaneous governance of business and commerce in a standard manner. This body of law is generally considered to be a branch of civil law which deals with the issue covered under the private law as well as public law (Beatty, Samuelson and Abril, 2018). The present study is based on assessment of given business ...
Accounts Receivables1. Revenue for FY2017 was $34,350 million. 2. The net accounts receivables for Nike for the year ending on May 31, 2017 was $ 3,677 million. The gross accounts receivables for Nike for the year ending on May 31, 2017 was $3,696 million 3. The write off during the FY2017 for bad debts was $ 17 million while the actual bed debt expense at $ 13 million was smaller than that written off. 4. The inventory as on May 31, 2...
Explanation of items in Cash Flow Statement and Changes Over the Past YearThis report explains about the financial statement analysis, tax payment and various accounting standards and polices which have been used by the company to record the tax provisions of the company. The Australian economy and the policies of the governance have impacted on the taxation policies of the country to make the effective changes into the corporations of the cou...
Background: Chloe's Intention to set up a Meditation Studio in BurnsideChloe is a naturopath practitioner who has an intention to set up a meditation studio or a centre for meditation in the suburb of Burnside as of late, she has seen a steady increase in her business. In order to set up her business, she found a place but before entering into any agreement, she went to the Burnside Council to ensure and find out if any building work is comi...
Factors to Consider When Choosing a Superannuation FundSUPERANNUATION CONTRIBUTION ANALYSIS ON DEFINED BENEFIT PLAN, TIME VALUE OF MONEY AND TAX ASPECT IN DECISION-MAKING PROCESS Introduction; A tertiary employee in Australian market refers to workers who offer services rather than issuance of goods. They have grouped in a sector referred to as a tertiary sector. Just like any other employee they are protected and gu...
Details of IncidentThe documentation of Max Lionel shows that the organization was founded as a sole proprietorship business. The current chart of the organization mentions the presence of the directors, the chief executive officer and the chief financial officer. This gives an idea of the fact that the organization has become a limited company, on the other hand the documents of the organization include the memorandum of the association and...
Implied AuthorityHas Jevan been provided any authority under the meaning of agency law by Jimbo for getting the highly collectible guitar repaired. If authority has been provided is Jivan imposed which any duties to his principle If duties are imposed, are there any liabilities which Jevan is subjected to in relation to the duties Whether the warranty of authority has been breached by Jevan Under the provisions of agency law there ...
Cash flow analysis of based on the operating activitiesThe most significant aim of this particular assignment is to analyse in detail the annual report of a company and provide comparative analysis on the cash flow statement for the 3 year period from FY2015 to FY2017. The student then analyse the other comprehensive income aspect of the company, the various particulars included in the OCI of the annual report and last part is to perform a d...
The Production Possibility Frontier1.a) Given the Newland’s production capacity, the PPF (Production Possibility Frontier) for production of bicycles and cars are highlighted in the below diagram; &...
Part A: Summary of the Tribe Constitution and Comparison with Australian Legal System 1. Part A This section of the paper discuss summary of the task 1. Firstly it discusses the proposal developed by the tribe elders for resolving different issues: Previous rulings of similar cases must be considered by the judges while deciding the cases which include similar facts and issue. Judges must make sure that they consider the principle of equal...
Operating Activities of QantasThe Cashflow statement of Qantas is segregated in three different segments, which contains financing activities, investing activities, and operating activities. The identified activities mainly help in understanding the cash outflow and inflow of the organisation during the fiscal year. The operating activities mainly comprises interest received, interest paid, divided received, income tax paid, cash generated f...
Background of the CaseLondon & Amsterdam Properties v Waterman Partnership Ltd is a case where Waterman Partnership was involved in a deed appointment to act as consultants for a structure and consult in traffic maters for a shopping centre development for LAP. LAP asserted that there was a critical delay of the work because of Waterman's delay in releasing substantial information by specific dates. Therefore, LAP claimed that Water...
BackgroundIssue The issue in this case is to determine the rights of Author in relation to then goods purchased by him under the Consumer Rights Act 2015 (CRA) Rule The Consumer Rights Act 2015 deals which rules and regulations relating to consumer contracts in UK. According to section 3 of the Act it is applicable on sales contracts, contract for hiring goods and contract for transfer of goods. The application of section is not done in relat...
Question OneAnswer to question 1: Issue: In this case two issues have been cropped up: Whether Liam and Peta have any liabilities under the Corporation Act 2001 or not Whether any penalty provisions could be applied on the directors or not Rules: The present case deals with the function and role of the directors regarding the insolvency of a company. Directors are possessed a higher position in an Australian company and it certain dut...
