Explain the historical foundations of the Australian legal system and the current sources of law.

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Explain the historical foundations of the Australian legal system and the current sources of law.

Business and Corporate Law This assessment has 2 parts: Part A - Preparation of the Consultative Report Part B – Verbal presentation of the Consultative Report

Learning Outcomes:

1. Explain the historical foundations of the Australian legal system and the current sources of law.
2. Describe the essential elements required to create, manage and discharge a contract and the remedies available for breach of contract.
3. Explain the different ways in which a business may be carried and the advantages and disadvantages of each method.
4. Identify the reasons for choosing one business structure over another.
5. Explain the processes for incorporating, managing and winding up a company.

Context:

Students will produce a Consultative Report that will critically analyse the differences between two unincorporated business structures. A live online Collaborate web-conference will be held that will allow students to present advice contained in their report and to argue why one type of business structure is recommended.

This assessment allows students to gain practice in preparing and delivering advice to clients. This practice has a sound legal basis. Legal practitioners do research and document their findings to be certain that information is clear and understandable when spoken to clients. Legal practitioners routinely write out what it is they will present verbally. Therefore, this assignment has 2 parts:

1. Demonstrate that you have researched legal issues, referenced them and logically prepared your advice for your client in the form of a written report.

2. Prepare a 5 minute verbal presentation based on your written report.

Instructions: 

Xiaojing, Lance and Nick wish to work together to operate an herbal product business. They have decided to explore unincorporated business structures, in particularly a partnership and a joint venture.

Prepare a consultative report that critically analyses:

• The key features of a partnership as compared to those of a joint venture
• Legislation applicable to both the partnership and to the joint venture
• The differences between the two business structures
• The advantage and disadvantages of each method of business organisation

Your report should give a recommendation, supported by appropriate explanation for choosing either a partnership or a joint venture as the most suitable structure. Produce a Word document between 1000-1500 words.

A live Collaborate web-conference will be held during Module 4 to allow for a verbal presentation of the consultative report.

Each student will have 5 minutes to present a summary of their consultative report covering the matters listed above.