Question 1: Contracts
(a) How do you distinguish an offer from an invitation to treat? Support your response with a real-life example of an invitation to treat.
(b) Muzak Pty Ltd is a wholesaler of string instruments such as violins and guitars. On Tuesday the company received an order from a regular customer of 50 violins to be delivered the next Tuesday on the terms on the order form. The company immediately signed the order form and posted its confirmation that day. (The businesses usually dealt with each other by post.)
Usually the confirmation would only take one day to reach the customer, but there was a postal delay which meant the customer did not receive acceptance of the order until Monday night. By this time, the customer had already sourced the violins from a different wholesaler and faxed Muzak Pty Ltd to cancel the order (the fax arrived on Monday night but was not read until Tuesday morning). The customer is now refusing to accept the violins or pay for them. Advise Muzak Pty Ltd.
(c) Will courts find an intention to create legal relations when considering agreements between spouses? Support your answer with relevant case law.
Question 2: Business Organisations and Company Law
(a) Mark and David have recently completed their qualifications and reached the minimum experience requirements to become registered tax agents. They are interested in opening an accounting firm together. What are the advantages and disadvantages of running the business as a partnership?
(b) Briefly describe three situations where a court will pierce the veil of incorporation.
(c) Identify three major differences between a public and a proprietary company.
Length of Responses: The length of response to each sub-question should be a minimum of one paragraph. You must answer each sub-question.
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