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.
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.
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.