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Semester 2, 2013 Purpose This is a significant task that requires forward planning and adequate time for research, reading and reflecting. You should begin researching early to gather information and...

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Semester 2, 2013
Purpose
This is a significant task that requires forward planning and adequate time for research, reading and reflecting. You should begin researching early to gather information and establish a plan as soon as possible.
The purposes of the assignment are to enable you to:
  • develop your independent research skills;
  • enhance your understanding of law as a dynamic process;
  • learn how to independently research a particular aspect of the law;
  • reflect on and consider particular legal issues;
  • demonstrate understanding of the legal environment, including relevant laws as well as economic, ethical, social/cultural, international and political issues;
  • develop your knowledge about the subject area of your research;
  • demonstrate the ability to investigate, synthesise and analyse;
  • communicate the findings in a formal price of work and meet a deadline;
  • enhance your analytical and written communication skills; and
  • apply your legal skills.

Your work must comply with the format outlined in the University's General Guide to the Presentation of Academic Work publication, available online at: http://www.ballarat.edu.au/generalguide.
Assignments must be accompanied by a signed official cover sheet ('Plagiarism Declaration Form'), available online at http://www.ballarat.edu.au/business/resources/student-forms/assign-coversheet.doc
On the cover sheet, please state your name, and student number. Also please include the word count for your assignment, and a signed declaration that you are aware of the University of Ballarat’s policies on plagiarism, and that this submission is entirely your own work free of plagiarism and collaboration.
The total length of the assignment (both part A and B combined together) must not be more than 2,500 words. Do not include the references or bibliography in the word count. This assignment is worth 35 marks. Submission of the assignment is due in teaching week 8. Specific due date, time, location and procedure of submission would be advised by your lecturer. Please note that late penalties apply to assignments where no alternative arrangements have been made with lecturing staff (subject to the discretion of the course coordinator).
Task:
The assignment has two parts. Part A requires you to write an essay and Part B requires you to solve a problem scenario.
Therefore, you should use essay format for Part A and Issues- Rules- Application-Conclusion (IRAC) format for Part B. If you have any questions, please ask your lecturer or tutor.
Part A:
Write an essay critically discussing the differences between common law and equity.
(10 marks)
Hints: You should draw on information and knowledge you have gained from Topic A (Australian Legal Framework). Start by defining the terms and then critically analysing the similarities and differences of the terms to one another. You should start by using your prescribed text and then utilise a range of additional academic sources to help you answer this question.
Part B:
Sam was interested in buying a television. He advertised in the local newspaper as follows: ‘Wanted: 80 cm colour television. Good condition. ‘Will pay a good price but need to collect by Friday’.
The next morning Bernie rang, saying that he had a television fitting the description. He said he would bring it around to Sam’s house at 3 pm.
A few minutes later Peter rang. He said he had a good television for sale, but it was a television/DVD unit combined. Sam thought this sounded like a good idea and he drove around to Peter’s house to have a look.
Peter showed Sam the television and the television was finished in a nice matt black finish and with soft, fluid lines. Sam said to Peter: “Have you ever had any problems with the picture?”
Peter told him that the television was a colour television and had always worked well and there were no problems with the picture. Peter set up the television and showed Sam how the television worked. Peter also described the television as having UHF frequencies which really appealed to Sam. The program showing on the screen during the demonstration was an old and timeless black and white movie.
Sam asked how much he wanted for the television and Peter replied that he would want $600. Sam said he would be prepared to pay $540. Peter agreed.
Sam took the television home and found Bernie waiting by the door. He said that he had the television and wanted the $600 that it was worth. Sam was confused, and said that he never said he would buy the television. Bernie became very angry, and told Sam that if he did not agree to buy the television he might find himself seriously harmed. Sam was frightened, and therefore agreed to buy the television. He asked Bernie to bring the television around the next day when he would have the money.
When Sam got inside he set up the television which he had just purchased from Peter. He watched it for a couple of minutes and discovered that it did not transmit UHF frequencies and in fact, it seemed like a black and white television as no colour worked.
Sam was upset, and took the television to an electrician. The electrician said that there was a major fault and that it had most certainly been faulty when he purchased it. The colour was not operable and the television was not designed to transmit UHF.
Sam had planned to use his television for a business presentation the following week and now stands to lose $2,000 as he will not able to complete the presentation.
Required: Discuss all of the potential issues arising from this scenario in contract law for any party mentioned. You should use a problem-solving format when answering this question.
Hints: In your answer, refer to the law of contract only. You do not need to consider Sale of Goods Acts or the Australian Consumer Law in your answer.
(25 marks)
Assignment Assessment Criteria
You will be assessed on the extent to which you have:
  • answered the task questions;
  • used good English expression, correct spelling, good punctuation and grammar and have proof read your work;
  • used a logical structure, with headings. (It is important that you develop the capacity to communicate professional advice clearly. In order to do this you need to carefully structure your answer in such a way that anyone reading your work is made aware of what is going to be talked about, and is led in a logical way through the arguments to a conclusion);
  • been able to identify, set out and discuss relevant legal issues, legal principles and cases, as appropriate;
  • used statutes (less relevant for contract) and cases to support your arguments, as appropriate. Further, you must rely on cases/legislation (less relevant to contract) to explain/support/justify the arguments you are making but these cases can be obtained from textbooks. You are encouraged to use cases and/or legislation which have been discussed in the classes and which can be found in textbooks. The selection of cases and legislation (less relevant to contract), however, is up to you. What is important is how the cases you have selected support your overall arguments;
  • analysed, argued or discussed as required by the task questions; and
  • found, read and used other resources.

Answered Same Day Dec 23, 2021

Solution

David answered on Dec 23 2021
119 Votes
Commercial Law Assignment
(BULAW5914)
The Business School
1 | P a g e
Student Name
Student ID number
Unit name
Unit number BULAW5914
Lecturer Name
Assignment title Commercial Law Assignment
Dated 9
th
September 2013
Commercial Law Assignment
(BULAW5914)
The Business School
2 | P a g e

Table of Contents

Part A ......................................................................................................................................... 3
Introduction ............................................................................................................................ 3
Common law .......................................................................................................................... 3
Equity ..................................................................................................................................... 3
Similarity ................................................................................................................................ 4
Difference between common law and equity ......................................................................... 4
Conclusion .............................................................................................................................. 6
Part B ......................................................................................................................................... 7
Issues ...................................................................................................................................... 7
Problems ................................................................................................................................. 8
Rules ....................................................................................................................................... 8
Formation............................................................................................................................ 8
Vitiating Factors ................................................................................................................. 9
Termination or performance ............................................................................................. 10
Remedies available ........................................................................................................... 10
Application ........................................................................................................................... 10
Solution ................................................................................................................................ 11
Conclusion ............................................................................................................................ 12
Bibliography ............................................................................................................................ 13
Commercial Law Assignment
(BULAW5914)
The Business School
3 | P a g e

Part A
Introduction
Legal concepts are closely inte
elated with each other, so it is very crucial to understand
their meaning clearly and differentiate them, in order to apply them successfully in the
desired context. In this essay also two such concepts of law have been analysed that are law
and equity; both are legal terms but there are deed difference between the two which can be
understood well by a legal representation. This essay will include information explicitly
about the law, equity and then it will focus on analysing the similarity and dissimilarities
etween the two concepts and finally this discussion has been ended with a summarized
conclusion on the findings.
Common law
The legal framework of Australia is very flexible as all the states maintain their independent
jurisdiction systems. However, there is a general law made by the jurisdiction that needs to
e followed by all State Supreme Courts, this law is known as common law. The common
law of Australia is being influenced by the UK law but it is independently formed and
managed. This can also b defined as the system that helps the jurisdiction in taking decisions
about pending cases with the help of information on previously settled case. Major objectives
and features of this law include fairness in the system, separation of power and legal guidance
for appropriate and ethical decision making.
Equity
Unlike common law, equity is difficult to explain as there is no concrete definition given on
this topic. In layman language equity in law has been implemented with the objective of
Commercial Law Assignment
(BULAW5914)
The Business School
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spreading harmony, justice and fairness in the system. The aim of equity law is to spread
justice in the legal preceding; the courts of equity are the nascent body of law has been
formed with the objective of addressing the individual legal and justice issues. Application
of equity in law helped in launching of tangible principles to overcome the deficiencies of
general law. It facilitates in co
ecting the law in better ways.
Similarity between Equity and common law
Huge discussions takes place on the dissimilarity between law and equity but they both are
legal concept and aimed towards spreading justice all over; so there must be some similarity
etween the two and the same have been evaluated here. Equity and common law both are
legal frameworks aimed towards ensuring justice to the parties involved and fairness in the
legal proceedings. Another major similarity between the two is there derivation from the
English law; both the concepts are stem from English law framework and then modified
according to Australian legal framework. Both common law as well as equity is embodied
partly from the statute law (Hussein, 1992).
Difference between common law and equity
Despite of being legal concepts; the two varies greatly in terms of their meaning and actual
application; below is the difference between the two concept given in...
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