Discuss this statement referring to relevant case law

Assignment Help Business Law and Ethics

Reference no: EM131986825 , Length: word count:2000

Business Law Assignment

Answer questions 1 and 2.

QUESTION 1 - Magda is a highly acclaimed professional photographer focussing on celebrities in the fashion, entertainment and sports industries.

Magda advertises and sells prints of her works via her website: www.madgaportraits.com.au, but she also sells directly to the public from her home studio.

The website sets out various categories of works including one entitled 'Elite Sports' where she has thumbnail photos of limited edition, framed, photographic portraits that she has taken, showing prices (including postage and handling).

There is also a notice on the website indicating that these portraits are numbered and signed by Magda, and are printed on archive quality, acid-free paper.

Avinash visits her website and admires a photographic portrait of an Australian Olympic champion, Paris Stilton. The advertised sale price is $2,000 and it is described as 'a limited edition of only 3 prints'. According to the website only one of these portraits remains unsold.

As described below, a number of exchanges take place between Magda and Avinash.

Sunday 19 February:

1) Using the supplied email address from the website, Avinash emails Magda saying, 'l'll buy the Paris Stilton portrait for $1,600'.

2) Within minutes, Magda emails him back saying that she 'cannot accept less than $1,800'.

3) An hour later, Avinash replies, indicating that $1,800 sounds like a fair price but asks her to 'hold the portrait so he and his wife can discuss the matter'. Avinash points out that as his wife is overseas, the earliest his wife could do so would be the following Tuesday, 21 February.

4) Magda responds immediately by email agreeing to this and attaches the following scanned document:

I, Magda Kingsbury, hereby offer to sell Avinash Kapoor one framed print of Olympian champion, Paris Stilton, for $1,800 cash. This offer shall remain open until 11.59 pm on Tuesday 21 February.

Signed: Magda Kingsbury

Monday 20 February:

5) Avinash emails Magda at 9 am stating he had been able to consult with his wife earlier than expected and he was willing to pay $1,800 for the portrait on the condition that she provided a certificate of authenticity that verified the portrait's origin and status as a limited edition work.

6) Magda emails him back at 9.30 am saying that she could do so. She adds, "If you want to go ahead you must confirm with me by 4 pm today". Avinash hesitates and decides to think it over and does not reply that day believing he has until Tuesday 21 February to decide.

7) At 11 am, Elton, a sports enthusiast, who had visited Magda's website and seen the portrait of Paris Stilton, decides to pay a visit to her studio to see it on display. Without haggling over the price he purchases the painting for $2,000 cash and takes it away with him.

8) At 11.30 am, Magda emails Avinash informing him that the portrait had been sold.

The next day, Tuesday 21 February:

9) At 9.45 am, without having actually read Magda's most recent email ( in 8 above), Avinash telephones her informing her that he will buy the painting for $1,800. Magda informs him he has missed out.

REQUIRED -

(a) Advise Magda and Avinash whether they had formed a binding contract with one another.

You will need to address all the essential elements of a contract as well as analyse the legal status (if any) of each step or event that occurred, including information on the website. Refer to relevant case law and provide definitions of legal terms. In this part, do not discuss the impact, if any, of consumer protection laws.
You may, but are not obliged to use the IRAC format for this part, given that each step or event needs to be analysed separately.
Recommended maximum: 600 words

(b) Assume Elton discovered that the portrait he had purchased had only been printed on low quality photographic paper and was therefore susceptible to colour degradation (already occurring) which would not happen had high quality archive quality paper been used. Furthermore, he has discovered that recently, Magda had sold ten of the so-called limited edition prints of Paris Stilton to other buyers.

Advise Elton of his rights under the Australian Consumer Law ('ACL').

By reference to the ACL, explain whether

Elton qualifies as a consumer
Magda has breached any terms
Magda has made any misstatements

Refer to specific sections of the ACL and any relevant cases.

For your information, 'limited edition' most commonly refers to the publication of an edition of a book, or reproduction of a print or object, limited to a specific number of copies.

Use IRAC format. Recommended maximum: 600 words.

QUESTION 2 - 'Consideration provided under a contract is not always valid. This can have unfortunate consequences for a party seeking to enforce the 'contract'.

REQUIRED -

Discuss this statement referring to relevant case law.

Include:

An indication of whether you agree or disagree with the statement, justifying your viewpoint
Identification of the type of consideration exchanged between Magda and Elton (from question 1)

Answer in essay format. Recommended maximum: 800 words.

Reference no: EM131986825

Questions Cloud

Describe amazons cash conversion cycle : Describe Amazons cash conversion cycle Using your own words, describe the key elements of the cash realization model.

The best statement of the main idea is : Small talk is a useful way to find out what interest we share with the other person. It serves other purposes as well.

What is ezcube unlevered beta : The Bonds have a beta of 0.16 and the equity had a beta of 1.24. What is EZCube's unlevered beta?

Summarize the fundamental equilibrium path : Summarize the fundamental equilibrium path. propose its significance.

Discuss this statement referring to relevant case law : BLO1105 Business Law Assignment. Discuss this statement referring to relevant case law. Identification of the type of consideration exchanged

What annual depreciation expense will be reported : What annual depreciation expense will be reported on the income statement for the center?

What do you call a check that a bank writes : What do you call a check that a bank writes on its own account made payable to a third party on your behalf?

Evaluate personal leadership capabilities : SHR011-6 - Leadership Project - Report on Personal Leadership - Create insight into your leadership style by answering questions about your personal leadership

Weighted average cost of capital for company : What is the weighted average cost of capital for this company if the company's marginal tax rate is 39%?

Reviews

len1986825

5/18/2018 12:49:40 AM

Total 2,000 words (not including footnotes (or other internal references) and bibliography). Overview of the task - Task: Assignment consisting of two main questions. ( Question 1 has two sub-parts). Total marks: 30. Total length of both questions: 2,000 words (not including footnotes (or other internal references) and bibliography). Due Date: Week 9 of the semester: Friday 25. How to submit - You must submit a softcopy of your assignment through VU Collaborate drop box by the due date. This allows for official receipt of the assignment, and Turnitin analysis.

len1986825

5/18/2018 12:49:33 AM

You must also submit a hardcopy at your class in Week 10. The hardcopy must be the same as the softcopy, and include a declaration form. It will be marked and returned to you with a feedback sheet. Details of the task - The assignment is to be completed individually and requires students to undertake their own research of academic materials including but not limited to their prescribed textbook. Other sources include legal journal articles, case summaries, and other texts. Statements of law should be supported with appropriate references to Australian law (cases) and relevant textbooks/articles/journals. Students should be wary of using internet sources that are not of acceptable academic standard. For example, wikipedia, or similar sources are not acceptable. A bibliography is required. Referencing style ( choose any type).

len1986825

5/18/2018 12:49:25 AM

If you are unable to undertake or complete an assessment due to adverse circumstances the following arrangements may apply: Late submission of assessments - Short extension of time If you are unable to submit an assessment item on time, due to circumstances outside your control, you may apply for a short extension of time of less than five (5) working days. The standard penalty for late submission without an approved short extension will be 5% of the total possible mark per working day. If submission is overdue by more than ten (10) working days, the work will not be assessed.

len1986825

5/18/2018 12:49:18 AM

Preparation - Students are expected to review the relevant topics (i.e., lecture materials and relevant chapters of prescribed textbook) as well as to conduct more in-depth research into the topic using a variety of reputable academic resources. It is recommended that begin researching the assignment as early as possible. A marking rubric for this task will be made available in the Assessments module of this space. Assessment Criteria and Submission. All assignments are to be submitted electronically via the Assessment Dropbox provided. Assignments will be submitted via Turnitin, where originality reports will be generated and can be viewed. An assignment declaration form must be submitted with the assignment.

Write a Review

Required(*) Message

Business Law and Ethics Questions & Answers

Legal environment of business caselet

The assignment in Law deals with the topic "Legal Environment of Business". A case study about Mary, a newly joined employee who is working in the USA and Europe. She faces few issues at her work place in Europe and tries to talk to her manager who s..

Business ethics & legal issues caselet

This assignment is about the concept of Business Ethics & Legal Issues. The laws relating to these can be found in Antitrust laws. These laws are concerned with those large corporations which have a majority of market share, mergers and acquisitions.

Questions on business law and ethics

Examples of securities that are exempted from the registration provisions of the 1933 Act and involving misstatement of material facts in a prospectus.

Discuss the doctrine of ratification of pre-incorporation

With the aid of a decided cases, discuss the doctrine of ratification of pre-incorporation contract.

Discuss the extent of phoenixing activity

It has been estimated that about 6,000 phoenix companies operate in Australia, costing government and the community hundreds of millions of dollars per year and impacting on individuals.

Application of law to facts

Company Law, Application of Law to Facts and Conclusion.

Question on business law and ethics

This assignment related to business law.

Questions on business law

Answer all the questions under business law.

Iidentify the issue raised by the facts

Iidentify the issue(s) raised by the facts, identify the relevant legal principles, apply the relevant legal principles to the facts, reach a conclusion.

Evaluation of software development

Prepare a report and present an evaluation of the subsequent methodologies for software development in terms of cost, resources and time.

Business value and ethics

Business value and ethics, Bart agrees to put Sam's Super Bowl champion-ship autographed football in his sports store to sell for $1,500. Sam agrees to pay Bart a 15% commission for selling the ball. If Joe comes in the sports store and offers Bart ..

Explain what is meant by income by ordinary concepts

Advise what tax consequences arise in respect of the payments.

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages