Posted: September 13th, 2017

Business Law statute law

Business Law statute law

Assignment 1
Question 1 (5 marks)

What is meant by the terms parliamentary law and judge-made law? With the aid of examples explain:

(a) The doctrine allowing for the superiority of parliamentary law over common law;
(b) How statute law has increasingly entered areas previously dealt with under common law alone.

Marking criteria
Students should be assessed on their ability to:
• explain the two key terms
• explain why parliamentary law is superior
• correctly use examples
• fulfil the standard academic requirements regarding referencing, style, argument, coherence, grammar and spelling.

 
Question 2 (5 Marks)

Why is it important for people to act ethically as well as legally in business and commerce?

Marking criteria
Students should be assessed on their ability to:
• define the term acting ethically
• argue why (or why not) ethical behaviour is advantageous to the individual, business and to society generally of acting ethically
• fulfil the standard academic requirements regarding referencing, style, argument, coherence, grammar and spelling.

Question 3 (5 marks)

Explain the difference between an offer and an invitation to treat? With reference to cases, explain why it important to distinguish between an offer and an invitation to treat in the following situations:

(a) where a person under the legal drinking age takes a bottle of wine from a bottle shop shelf and presents it at the checkout for purchase at which point the police charge the checkout attendant with selling alcohol to an underage person;
(b) where a shop advertises refrigerators at a special low price in newspapers and on TV and, after they have been sold out, a customer seeking to purchase the advertised refrigerator is so unhappy he sues the shop for breach of contract.

Marking criteria
Students should be assessed on their ability to:
• define invitation to treat
• explain the difference between that and an offer
• discuss the rule regarding invitations to treat in relation to the two situations
• fulfil the standard academic requirements regarding referencing, style, argument, coherence, grammar and spelling.

 
Question 4 (5 marks)

David, in a letter to Jane, offers to sell Jane his car for $2,000 provided she accepts, via any mode of communication, by 5.00 pm on 6 February. Has there been correct acceptance in the following situations? As well as answering yes or no, cite the
relevant case and/or legislation.
(a) Jane phones David on 5 February and says ‘yes, I’ll buy it for $1,800’.
(b) Jane phones David on 5 February and says ‘yes, I accept your offer provided it comes with a full tank of fuel’.
(c) Jane posts a letter on 5 February accepting the offer but the letter doesn’t arrive in David’s letterbox until 8 February
(d) Jane sends an email to David accepting the offer at 2.00 pm on 6 February but David has gone fishing for the afternoon and doesn’t see the email until 9.00 am on 7 February.
(e) Fred, a fellow student of Jane’s, overhears her saying that she wants to buy the car and informs David of his acceptance at 4.00 pm on 6 February.
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