Assignment:
Assignment submission
All students should submit their assignment online via the Moodle site. Links will be provided on Moodle well before the due date. (Hard copy submission will NOT be accepted). The assignment file must be in MSWord format (.docx or .doc extensions). Plagiarisms will be checked through trintin software.
Details
To develop your professional skills you must be able to access relevant information using electronic resources, and to present the results in a professional manner. For each question, you should assume that you work for an accountancy firm and a major client has requested advice. The senior partner of the firm has asked you to prepare a draft advice to be used as the basis for the advice to the client, and he doesn't want to have to make big changes to it.
A mark between 0 and 5 will be available for the professional qualities of your work. This includes things like: structure and formatting with consistent headings, fonts and page numbering; spell-checking; logical flow of summaries and explanations; conciseness and relevance; general user-friendliness. Short answers may be given in a few words, but answers that require a summary or explanation need to be in your own words. A summary requires you to include a concise statement of relevant material AND to exclude irrelevant material. You will not receive marks for copying slabs of text with no attempt to summarise.
Question-1
Use the web site of the Australian Securities and Investments Commission (ASIC), the Corporations Act 2001 and (if necessary) other legal sources to answer the following question in 1,000 words or less.
1. The law recognises two forms of evidence to prove facts - direct evidence and circumstantial evidence. Direct evidence is evidence of the very thing that you are trying to prove. Circumstantial evidence is proof of one fact that leads to a reasonable inference about the truth of a fact you are trying to prove. It can be thought of as inferential evidence. Proving solvency and insolvency often involves both direct and circumstantial evidence. Your task is to explain the legal definition of insolvency and summarise the types of evidence that can be used to prove insolvency, identifying whether they are direct or circumstantial and explaining how persuasive they are as evidence.
Question-2
Use the web page of the Australian Securities Exchange (ASX), the Corporations Act 2001 and any other resources you require to answer the following question in 600 words or less.
2. The Listing Rules contain provisions for continuous disclosure and periodic disclosure. By reference to the rules and statutory provisions, explain the differences and similarities between these two forms of disclosure.
Question-3
At the website of www.austlii.edu.au, locate the High Court case of Canny Gabriel Castle Jackson Advertising Pty Ltd v Volume Sales (Finance) Pty Ltd [1974] HCA 22 and the Partnership Act 1891 (Qld.), and answer the following question in 400 words or less.
3. The Canny Gabriel case was a case in which the High Court found that there was a partnership under New South Wales law. Your task is to demonstrate that the same result would have been reached under Queensland law. In the Partnership Act 1891 (Qld.), identify the elements required to establish the existence of a partnership, and for each element, summarise the evidence in the Canny Gabriel case that would support it.