Reference no: EM131215272

BASIS OF ASSESSMENT:

You will be assessed on:

a) Analysis

- Depth of understanding of the topic and identification of relevant issues

- Accuracy of the law (legislation and cases) used to support discussion

- Clarity and coherence of the debate/discussion (think of leading the reader along a pathway, explaining the features, their importance and impact)

- Quality of discussion and argument

- Attempt to canvass a range of views and to offer an individual opinion on the state of the law/need for reform (depending on topic)

b) Research

- The use made of appropriate legal sources, in particular primary legal sources: e.g., the appropriate legislation and cases (it is appropriate to rely on the summaries of cases located in secondary sources)
- The breadth and use made of relevant secondary legal sources, in particular a number of legal texts, internet sites and where possible academic journal articles.

c) Presentation

- Readable connected prose NOT point form summaries

- Grammar and spelling

- Effective use of HEADINGS

- Consistent and accurate acknowledgment of sources using a recognised style

- both in relation to in-text referencing and list of references/bibliography.

- Identification of the reference style being used (please put on title page)

- Typed preferably and double-spaced

Referencing:

In-text referencing (either Harvard Style or footnotes) must be included. A bibliography must also be included.

The research should be a thorough coverage of the critical legal points in the chosen topic and some conclusions should be drawn concerning the issues. Students should form their own opinions after informing themselves of the different views and relevant issues. Students should assume they are writing for an audience who already has general knowledge of the law. Students should aim to examine an area of interest at a deeper level than the level of the course lecture materials or a textbook.

Your research should contain at least five articles relating to your topic extracted from but not limited to the following current sources:

a) daily newspapers
b) journals (targeted at professional practitioners) - for example, Law Institute Journal
c) journals (targeted at academics) - for example, Melbourne University Law Review
d) global business data bases
e) internet resources
f) law reports / statutes

YOUR OWN ANALYSIS, EXPLANATION, DISCUSSION AND COMMENT ARE REQUIRED, NOT JUST A SUMMARY OF EXISTING ARTICLES. THE COMMENTARY SHOULD DEMONSTRATE AN UNDERSTANDING OF THE ARTICLE AND THE BROADER ISSUES RAISED AND THEIR RELEVANCE TO CORPORATE FINANCE LAW IN GENERAL.

STUDENTS ARE TO SELECT ANY ONE OF THE FOLLOWING TOPICS:

Please note that the suggested topics cover areas of corporate law that we have not yet covered in lectures. This is deliberate as it is a research paper which requires you to research (find out) information.

Question 1:

The concept of past consideration being not good consideration is no longer valid since the High Trees case.

Required:

Discuss why this principle came into existence, whether this principle still applies or is it over ridden by the case. In your answer please refer to other cases relevant to this issue.

Question 2:

The Australian Securities Exchange (ASX) has issued a series of recommendations relating to corporate governance of public companies in Australia.

Required:
a. Explain what the purpose of these recommendations is, why they were introduced and what issue they were trying to overcome.
b. Explain why many of these recommendations about corporate governance would or could not apply to small private companies.

Question 3:

You are a financial analyst for a large financial institution. Your employer is in the business of lending or investing in a range of companies particularly start- up companies looking for funds.

You have been asked to prepare a paper on the benefits of investing in start- up companies either by way of debt or equity.

Required:

Discuss the different types of equity and debt instruments that are available in the market place that can be used as a form of investment in a start-up company.

Question 4:

The concept of a company being a separate legal entity is a myth and has no relevance in today's commercial world. Certain people take advantage of this concept to deprive creditors of access to funds. A common practice is the establishment of phoenix companies.

Required:

Discuss whether you agree with this concept and what you would recommend to make the system fairer to creditors.

Question 5:

The legal obligations imposed on directors are not onerous enough. Directors should be under a higher duty of care. Recent cases involving breaches by duties demonstrate that the Corporations Act is not strong enough to punish directors.

Required:

Discuss whether you agree with this statement or whether you think directors in Australia should face a heavier duty than currently exists.