...LEGT 1710, BUSINESS AND THE LAW SAMPLE PROBLEM QUESTION AND SAMPLE ANSWER NOTE: • • • • The sample question and answer are based on a previous problem question. The sample question and answer are purely intended as a GUIDE TO THE STYLE OF WRITING answers to legal problem questions. Do NOT use the content of this answer for your assignment as the facts and issues in this problem are different to those in the assignment question. Do not try to learn the content of the sample answer as a replacement for learning and understanding the lecture, tutorial and course reading materials. 1. SAMPLE QUESTION Annie (‘A’) runs a courier service, A Pty Ltd. She reads in a newspaper that a local business, KwikCo, is looking for a courier service which they can use exclusively to deliver parcels and documents to their clients. The advertisement calls for expressions of interest, stating that "those parties wishing to be considered for the courier contract with KwikCo should submit an application in writing to be received in KwikCo's office by 5pm on Friday, 25 April, 2008." On Monday, 21 April 2008, A sends a letter to KwikCo giving information about her company and its experience as a courier service. She states that the company would be prepared to take on the work for KwikCo for a fee of between $12,000 and $20,000 per month. She further states in the letter that, rather than working exclusively for KwikCo, the company would prefer to also take on other small jobs on the understanding...
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...TABL 1710, BUSINESS AND THE LAW SAMPLE LEGAL PROBLEM QUESTION AND SAMPLE ANSWER NOTE: • The sample question and answer are based on a previous problem question. • The sample question and answer are purely intended as a GUIDE TO THE STYLE OF WRITING answers to legal problem questions. • Do NOT use the content of this answer for your assignment as the facts and issues in this problem are different to those in the assignment question. • Do not try to learn the content of the sample answer as a replacement for learning and understanding the lecture, tutorial and course reading materials. 1. SAMPLE QUESTION Annie (‘A’) runs a courier service, A Pty Ltd. She reads in a newspaper that a local business, KwikCo, is looking for a courier service which they can use exclusively to deliver parcels and documents to their clients. The advertisement calls for expressions of interest, stating that "those parties wishing to be considered for the courier contract with KwikCo should submit an application in writing to be received in KwikCo's office by 5pm on Friday, 25 April, 2008." On Monday, 21 April 2008, A sends a letter to KwikCo giving information about her company and its experience as a courier service. She states that the company would be prepared to take on the work for KwikCo for a fee of between $12,000 and $20,000 per month. She further states in the letter that, rather than working exclusively for KwikCo, the company would prefer to also...
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...PRE-EXAM PRACTICE QUESTIONS The following problem questions are from previous exams. Note what is said about Common Errors to Avoid for each of the 4 questions. The first question is the least challenging (it was weighted accordingly). The questions are not in any particular order. SAMPLE 1 Krishnah wanted to purchase a motor cycle. She applied to Pino Motors Pty Ltd (“Pino’s”) who specialised in Forum motor cycles. Krishnah informed the dealer, Zvonko, that she wanted a motor cycle which was capable of high speed and suitable for regular use in motor cycle race meetings. Zvonko recommended a Mark IV Forum motor cycle to satisfy these requirements and showed Krishnah a demonstration model in the showroom. Before placing an order and signing a written contract for a "Mark IV Forum motor cycle”, Krishnah again asked Zvonko whether this particular bike was suited for racing. Zvonko assured her it was and many racing people used this type of bike. She also asked whether these particular bikes would “hold their value, relative to most other bikes”. Zvonko responded saying, “yes, I can almost guarantee they do, based on what I have read about them in some of the industry magazines”. The contract Krishnah signed contained the term, “The parties acknowledge that this contract contains the whole agreement and that no other statements whatever induced the sale.” When Krishnah took delivery of the motor cycle, she discovered that the acceleration was slow and after testing it before and...
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...Semester II Examination Papers IIBM Institute of Business Management IIBM Institute of Business Management Semester-II Examination Paper MM.100 Business Law Section A: Objective Type (30 marks) • This section consists of Multiple choice questions & Short Notes type questions. • Answer all the questions. • Part One questions carry 2 marks each & Part Two questions carry 4 marks each. Part One: Multiple choices: 1. A condition cannot be treated as warranty in the following circumstances and waiver is implied: a. Where the buyer waives a condition or elects to treat the breach of warranty. b. Where a contract of sale is not severable and the buyer has accepted the goods or part thereof. c. The breach of any condition to be fulfilled by the seller can only be treated as a breach of warranty, unless provided for otherwise in the contract. d. Obstructs or prevents the other party from fulfilling his part of promise. e. All of the above. 2. Which of the following statements is correct? a. An agreement with or by the minor is void and inoperative. b. A contract entered by the guardian for the beneficiary of a minor is not valid. c. A minor by misrepresenting his age can enter into a valid contract. d. A minor can create contractual obligations as a partner. e. A minor can ratify all invalid acts as valid on attaining majority at any time. 3. Which of the following will amount to material alteration of a cheque? a. When the holder crosses an uncrossed cheque. b. When...
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...Semester II Examination Papers IIBM Institute of Business Management Semester-II Examination Paper Business Law Section A: Objective Type (30 marks) • • • Part One: Multiple choices: 1. A condition cannot be treated as warranty in the following circumstances and waiver is implied: a. Where the buyer waives a condition or elects to treat the breach of warranty. b. Where a contract of sale is not severable and the buyer has accepted the goods or part thereof. c. The breach of any condition to be fulfilled by the seller can only be treated as a breach of warranty, unless provided for otherwise in the contract. d. Obstructs or prevents the other party from fulfilling his part of promise. e. All of the above. 2. Which of the following statements is correct? a. An agreement with or by the minor is void and inoperative. b. A contract entered by the guardian for the beneficiary of a minor is not valid. c. A minor by misrepresenting his age can enter into a valid contract. d. A minor can create contractual obligations as a partner. e. A minor can ratify all invalid acts as valid on attaining majority at any time. 3. Which of the following will amount to material alteration of a cheque? a. When the holder crosses an uncrossed cheque. b. When the holder converts general crossing into special crossing by adding the name of the banker on he face of the cheque. c. When the holder converts special crossing into general crossing by erasing the name of the banker in the cheque. d. When the holder...
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...the most vexing and destructive problems are created through uncontrolled data redundancies. Such redundancies produce update and delete anomalies that create data integrity problems. The loss of data integrity can destroy the usefulness of the data within the database. (If necessary, review Chapter 1, Section 1.4.4, “Data Redundancy”, to make sure that your students understand the terminology and that they appreciate the dangers of data redundancy.) Table structures are poor whenever they promote uncontrolled data redundancy. For example, the table structure shown in Figure IM5.1 is poor because it stores redundant data. In this example, the AC_MODEL, AC_RENT_CHG, and AC_SEATS attributes are redundant. (For example, note that the hourly rental charge of $58.50 is stored four times, once for each of the four Cessna C-172 Skyhawk aircraft – check records 1, 2, 4, and 9.) Figure IM5.1 A Poor Table Structure [pic] |[pic] The figures shown in this discussion show the contents of the IM_Discussion database. This database is located on the teacher’s CD. The | |Student Online Companion also includes SQL script files (Oracle and SQLServer) for all of the data sets used throughout the book. | If you use the AIRCRAFT_1 table as shown in Figure IM5.1, a change in hourly rental rates for the Cessna 172 Skyhawk must be made four times; if you forget to change just one of those rates, you have a data integrity problem. How much better it would be to have...
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...Chapter 6 Normalization of Database Tables The manager of a consulting firm has asked you to evaluate a database that contains the table structure shown in Table P6.10. Table P6.10 Sample CLIENT Records |Attribute Name |Sample Value |Sample value |Sample Value | |CLIENT_NUM |298 |289 |289 | |CLIENT_NAME |Marianne R. Brown |James D. Smith |James D. Smith | |CLIENT_REGION |Midwest |Southeast |Southeast | |CONTRACT_DATE |10-Feb-2010 |15-Feb-2010 |12-Mar-2010 | |CONTRACT_NUMBER |5841 |5842 |5843 | |CONTRACT_AMOUNT |$2,985,00.00 |$670,300.00 |$1,250,000.00 | |CONSULT_CLASS_1 |Database Administration |Internet Services |Database Design | |CONSULT_CLASS_2 |Web Applications | |Database Administration | |CONSULT_CLASS_3 ...
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...produced?" Selected Answer: the production of SUV’s versus the production of sub-compact cars * Which of the following is an example of how the question of "what goods and services to produce?" is answered by the command process? Selected Answer: government subsidies for windmill energy production How goods and services should be produced? * Involves the allocation of a country’s resources in the production of a particular good or service. * Which of the following is the best example of "how goods and services should be produced?" Selected Answer: the use of additional workers versus the use of machines in the production of goods. 2. Factors of production * factors of production, resources, or inputs are what is utilized in the production process in order to produce output—that is, finished goods. * Factors of production may also refer specifically to the primary factors, which are land, labor (the ability to work), and capital goods applied to production * Resources: Land, Labor, Capital, Entrepreneurship and management skills 3. Scarcity and opportunity cost * Scarcity is the condition in which resources are not available to satisfy all needs and wants of a specified group or people. * Opportunity cost is the amount (or subjective value) that must be scarified (given up) in choosing one activity over the next best activity. * Which of the following is the best example of opportunity cost? Selected Answer: the amount of...
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...CHAPTER 9 Production Cycle LEARNING OBJECTIVES | | | | | |Review |Exercises, Problems, and | | |Checkpoints |Simulations | | | | | |1. Describe the production cycle, including typical source |1, 2, 3, 4, 5 |41 | |documents and controls. | | | | | | | |2. Give examples of tests of controls for auditing the controls |6, 7, 8, 9 |42, 43 | |over conversion of materials and labor in a production process. | | | | | | | |3. Identify and describe considerations involved in the observation|10, 11, 12, 13, 14...
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...Questions 1-5 1. Does a minor have the capacity to enter into an enforceable contract? What does it mean to disaffirm a contract? * Yes. To disaffirm a contract it means to set aside at any time during minority or for a reasonable period after minor is emancipated. It can be expressed or implied. 2. Under what circumstances will a covenant not to compete be enforced? When will such covenants not be enforced? * In employment as long as time and geographic terms are reasonasble. Sale on ongoing business. 3. What is an exculpatory clause? In what circumstances might exculpatory clauses be enforced? When will it be enforced? * Release a party from liability in the event of monetary or physical injury- no matter who is at fault. Enforceable when they are not against public policy, are not ambiguous, and do not shield parties from intentional conduct. 4. What is the difference between a mistake of value or quality and a mistake of fact? * Mistake of value is when the contract is enforceable. Mistake of facts occurs in two forms: unilateral and bilateral. 5. What are the elements of fraudulent misrepresentation? * Misrepresentation of Material Fact * Intent to deceive * Reliance on Misrepresentation * Injury to the Innocent Party Business Scenarios and Case Problems 8-1, 8-2, 8-3, and 8-6 8-1 Contracts by Minors. Kalen’s liability in this situation the contract is voidable at the option of the minor, and is disaffirmed. Disaffirmance can be...
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...SHAREHOLDER-MANAGER CONFLICTS * * AGENCY VERSUS CONTRACT * * FURTHER READING: Agency theory suggests that the firm can be viewed as a nexus of contracts (loosely defined) between resource holders. An agency relationship arises whenever one or more individuals, called principals, hire one or more other individuals, called agents, to perform some service and then delegate decision-making authority to the agents. The primary agency relationships in business are those (1) between stockholders and managers and (2) between debtholders and stockholders. These relationships are not necessarily harmonious; indeed, agency theory is concerned with so-called agency conflicts, or conflicts of interest between agents and principals. This has implications for, among other things, corporate governance and business ethics. When agency occurs it also tends to give rise to agency costs, which are expenses incurred in order to sustain an effective agency relationship (e.g., offering management performance bonuses to encourage managers to act in the shareholders' interests). Accordingly, agency theory has emerged as a dominant model in the financial economics literature, and is widely discussed in business ethics texts. Agency theory in a formal sense originated in the early 1970s, but the concepts behind it have a long and varied history. Among the influences are property-rights theories, organization economics, contract law, and political philosophy, including the works of Locke...
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...examples from the syllabus, to create this unique eBook. Written by a top ITIL Consultant who has proven these techniques time and time again with students he coaches. Across 12 content packed chapters you will learn: • • • • • • • • • • • • • The awesome 3-PASS answering strategy to obtain over 26 points Worked examples of ITIL questions and three mistakes you must avoid making! Exam jargon demystified: Stems, Options, Qualifiers and Modifiers – Revealed How to overcoming the challenges and pitfalls of the ITIL Foundation exam How Examiners actually create questions and the secrets you must know How to verify you have the correct answer and avoid changing your mind The ‘DNA’ of ITIL Foundation questions explained – step-by-step How to effectively boost your memory recall using Flashcards Five ways to ensure you quickly eliminate incorrect answers Three ways to ensure you fully understand the question How to quickly overcome exam blackout and anxiety How...
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...examples from the syllabus, to create this unique eBook. Written by a top ITIL Consultant who has proven these techniques time and time again with students he coaches. Across 12 content packed chapters you will learn: • • • • • • • • • • • • • The awesome 3-PASS answering strategy to obtain over 26 points Worked examples of ITIL questions and three mistakes you must avoid making! Exam jargon demystified: Stems, Options, Qualifiers and Modifiers – Revealed How to overcoming the challenges and pitfalls of the ITIL Foundation exam How Examiners actually create questions and the secrets you must know How to verify you have the correct answer and avoid changing your mind The ‘DNA’ of ITIL Foundation questions explained – step-by-step How to effectively boost your memory recall using Flashcards Five ways to ensure you quickly eliminate incorrect answers Three ways to ensure you fully understand the question How to quickly overcome exam blackout and anxiety How...
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...Sample Answers to Questions 1 and 2. Most of you did well on questions 3 and 4, so here I post only sample answers to questions 1(a) & (b) and 2: 1(a) & 1(b): Question on whether moving production to China is ethical; Question on the economic and social costs and benefits of such a move. Sample Answer (A) Note: this student earned high grades for looking at the issue from multiple perspectives, for looking at the benefits and costs to all major stakeholders, and for acknowledging that moving productions overseas is a controversial topic. Excellent use of facts to support his/her claim. 1. Whether or not Ohio Art Company’s decision to shift production offshore was ethically wrong is a controversial topic. In strictly business terms, Ohio Art Company (OAC) did not break any laws or perform an illicit act; OAC’s decision to offshore was one that had few other options – if the company did not find ways to lower production costs, the company would have eventually gone bankrupt. If production had not been moved, OAC would have been unable to lower production costs, and would therefore be unable to generate enough profits to continue business. Either way, OAC employees would have suffered job losses. Furthermore, OAC’s decision benefited shareholders, which is one element of judging an ethical decision; there are no standards that prohibit off shoring. However, OAC’s obligations to its employees are something that must be considered as well. The company, which...
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...ITIL® Foundation Sample Papers Terms of Use – English Please note that by downloading and/or using this document, you have agreed to comply with the terms of use outlined below: 1. All sample (electronic or paper based) papers are for personal use only. 2. The sample papers are intended for the following use only: For use as study aid/s for candidates who wish to sit an ITIL Foundation examination, or for reference purposes. 3. By downloading a complimentary digital copy of any of the ITIL Foundation sample papers, you agree not to: Reproduce or copy; forward or share; sell the document with/to any third party. 4. If you wish to use the whole or part, of any of this sample paper, for any purpose other than self study or reference, please contact AXELOS Accreditation Team (examinations@axelos.com). The ITIL® Foundation Examination Sample Paper A, version 5.1 Multiple Choice ANSWERS AND RATIONALE © AXELOS Limited 2012 All rights reserved. Reproduction of this material requires the permission of AXELOS Limited. The swirl logo™ is a trade mark of AXELOS Limited ITIL® is a registered trade mark of AXELOS Limited ITIL Foundation Examination SampleA ANSWERSandRATIONALES v5.1. This document must not be reproduced without express permission from The Accreditor. Page 1 of 4 Version 5.1 (Live) Owner – The Official ITIL Accreditor Answer Key and Rationale: Q A Syllabus Ref Book Ref 1 B 05-51 ...
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