Posted: November 23rd, 2014

Art

Art

Order Description

Write a 3 page double-spaced paper in which you answer the following questions: What is your personal definition of art at the conclusion of this course? What does art include? What does it exclude? What, if anything, has changed in your thinking as a result of this course? How will you apply information and skills from this course in your own life?
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You Wrote the first essay in Sept, So I thought it would be best if you got the 2nd essay to the assignment.

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100.

Business Law, Topsells overstating Profits

ASSIGNMENT  BRIEF.

‘Topsells, a major retailer has revealed that it overstated its first half profit by £250 million’.
Discuss possible litigation that may flow. Should  Topsells retain legal advisors and why?
You are expected as a minimum   to show awareness  of the
Essentials of Company Law and reporting
Regulatory issues
Shareholder rights
Organisations: FCA and SFO
Civil and   Criminal Law implications.
Please refer in detail to FCA and Accountancy Body websites.
WWW.FCA.org
Please refer to your course book and watch Moodle.

BUSINESS LAW ASSINGMENT-Matters to covers
1.Why is this matter of concern ?
To government, Shareholders? What is the relevance of Company Law?
2.Regulators:
Financial Conduct Authority :  www.FCA.org.uk
They require accurate financial disclosure .
And can prosecute for   Criminal misconduct
Financial Reporting Council: WWW.FRC.org.uk
This is the watchdog to ensure accountancy standards.
Serious Fraud Office: www.SFO.org.uk
3. You must distinguish between Civil and Criminal actions –remember the Grid we looked at.
Burden of Proof in Criminal Trial different to Civil trials.
Offence in Criminal Trial
Fraud under the Theft Act (1968)   www.theft.act.gov.uk
In Civil Law , there is the question of negligent misstatement
4. Misrepresentation.
Misrepresentation makes a contract voidable.
An actionable misrepresentation  is:
1. as statement of fact
2. is material inducement to enter a contract
Edgington v Fitzmaurice (1885) a company prospectus said that the proceeds from the sale of debentures were to be used  to improve buildings and extend business; in fact for paying off debts.
Held: bowenLJ said: ‘the state of a man’s mind is just as much a fact as the state of his digestion. .A misrepresentation as to the state of his mind is therefore a statement of fact
Esso petroleum v Mardon (1976) forecast for filling station.
The statement acted as inducement.’
Hurst and others v Hone and other (2010):  Defs Hone persuaded Sir Geoff Hurst, former footballer to invest in Spain. Persuaded Sir Geoff to
Remedies: Fraudulent ~Misrepresentation  sue in tort of deceit for damages, Rescission
Careless s2(1) Misrepresentation Act 11967 induces a contract Howard marine v Ogden and Son(11978) CA Barges chartered.
Wholly innocent misrepresentation voidable.
http://legal.practitioner.com/regulation/standards_9_3_1.htm please read this piece.

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