Corporate Law
Chapter Exam Questions
Course Introduction
Corporate Law is a comprehensive study of the legal framework governing the formation, operation, and dissolution of corporations. This course explores the rights and duties of directors, shareholders, and officers, as well as issues relating to corporate governance, finance, mergers and acquisitions, and regulatory compliance. Emphasis is placed on understanding statutory regulations, judicial decisions, and the ethical responsibilities of corporate entities in both national and international contexts. Through case studies and real-world applications, students gain insight into the dynamic relationship between law, business, and society.
Recommended Textbook Business Law 9th Edition by Andy Gibson
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Page 2
Chapter 1: Legal Foundations
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Q1) If there is a conflict between common law and statute law:
A) Statute law will prevail.
B) Either could prevail depending on the circumstances of the case.
C) Common law will prevail.
D) Statute law prevails but only if the court allows it to.
Answer: A
Q2) Since Federation, Australia has ratified a large number of international treaties and conventions including which of the following?
A) The Asia Pacific Economic Cooperation (APEC).
B) The Vienna Sales Convention (CISG).
C) The General Agreement on Tariffs and Trade (GATT).
D) All of the above.
Answer: D
Q3) Laws made by parliaments are called statute law.
A)True
B)False
Answer: True
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Chapter 2: Origins of Australian Law
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Q1) Which principle was effectively laid to rest by the High Court in the case of <i>Mabo v Queensland (No. 2)</i> (1992) 175 CLR 1?
A) The settlement of Australia.
B) The doctrine of precedent.
C) The separation of powers.
D) <i>Terra nullius.</i>
Answer: D
Q2) The reason <i>Terra Nullius</i> is important to the doctrine of reception is because:
A) English law could apply from the date of settlement.
B) The occupants had no land rights.
C) There was nobody to negotiate a treaty with.
D) All of the above.
Answer: D
Q3) The attitude of the High Court of Australia to the interpretation of the Constitution has been to expand the power of the Commonwealth Government.
A)True
B)False
Answer: True
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4
Chapter 3: Legal Systems
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Q1) If a person wants to appeal against a decision of the Tax Office, they will go to:
A) The Federal Court.
B) The Supreme Court of their state.
C) The Civil and Administrative Tribunal of their state.
D) The Administrative Appeals Tribunal.
Answer: D
Q2) Consumer claims under the Australian Consumer Law are dealt with by the Australian Competition and Consumer Tribunal.
A)True
B)False Answer: False
Q3) The High Court only has appellate jurisdiction.
A)True
B)False Answer: False
Q4) The term jurisdiction refers to the types of cases a particular court can hear.
A)True
B)False Answer: True
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Chapter 4: How Law Is Made: Precedentstatute Law
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Q1) The use of the word: 'means' in legislation indicates that a word has an exact meaning.
A)True
B)False
Q2) Explain the doctrine of <i>res judicata.</i>
Q3) Which of the following statements most accurately defines 'obiter dictum'?
A) Anything else said about the law in the course of a judgment that does not form part of the matters in issue.
B) The doctrine of precedent; 'to stand by a decision.'
C) The legal reasoning upon which the decision in a case was based.
D) The final order of the court is binding on the immediate parties to the action.
Q4) A medium neutral citation indicates that a judgement is available online. A)True B)False
Q5) In order to be passed, most Bills need to be considered or 'read':
A) Two times in each of the three houses of parliament.
B) Four times in each of the two houses of parliament.
C) Three times in both houses of parliament.
D) Twice in each of the two houses of parliament.
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Chapter 5: Civil Liability: The Law of Torts and Negligence
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Q1) The reasonable person test, in the case of children, gives way to the standard of a child of similar age and experience.
A)True
B)False
Q2) What is the name of the test that the courts use in determining the existence of a duty of care in any given circumstance?
Q3) In the case of <i>Donoghue v Stevenson</i> [1932] AC 562, why did Donoghue sue Stevenson in negligence and not contract?
A) The contract between Stevenson and Donoghue expressly excluded liability.
B) There was no contract between Donoghue and Stevenson.
C) The law of contract cannot be used to recover compensation for personal injury.
D) The contract was between Donoghue and the retailer.
Q4) Much of the law of torts is concerned with accidental injury to the person or property. Do you think that it is appropriate for a person to be made liable for an <i>accidental</i> act?
Q5) A tort is a civil wrong rather than a criminal wrong.
A)True
B)False
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Chapter 6: Applications of Negligence to Business
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Q1) An employer will be vicariously liable for the tortious acts of:
A) Employees but not independent contractors.
B) Both employees and independent contractors.
C) Independent contractors but not employees.
D) Neither employees nor independent contractors.
Q2) An action for harm caused by a defective product under the Australian Consumer Law requires proof of fault.
A)True
B)False
Q3) A person who suffers injury as a result of a defective product may take action in negligence or under consumer protection legislation.
A)True
B)False
Q4) A 'non-delegable' duty of care is:
A) Less onerous than an ordinary duty of care.
B) As onerous as an ordinary duty of care.
C) An absolute duty to take reasonable care.
D) More onerous than an ordinary duty of care.
Q5) What is a non-delegable duty of care?
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Chapter 7: Introduction to Contracts
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Q1) The decision in <i>Lee Road Pty Ltd v Catanzariti & Anor</i> [2005] SADC 64 was that an exchange of faxes was sufficient to satisfy the requirement for written evidence of a contract.
A)True
B)False
Q2) What is the difference between a formal contract and a simple contract? Provide examples of each.
Q3) Which of the following statements is NOT correct in respect to determining when an agreement is a contract?
A) It is generally not necessary that a contract be in writing to be enforceable.
B) The courts are not concerned with the intention of the parties as it is a private matter.
C) Sometimes the law implies the existence of a valid contract.
D) The parties in an agreement do not always intend to create legal relations.
Q4) A contract for the sale of land that is not evidenced in writing will be:
A) Void.
B) Unenforceable.
C) Voidable.
D) Executory.
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Page 9
Chapter 8: Agreement Between the Parties
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Q1) It is important to identify when parties have reached agreement because:
A) A contract comes into existence once agreement is reached.
B) The terms and conditions agreed to create legally enforceable rights.
C) It helps to determine the time and place of the contract.
D) All of the above.
Q2) If an agreement is made between two parties of unequal bargaining power:
A) The court will not enforce the agreement.
B) The court will nevertheless enforce the agreement.
C) The court will not enforce the agreement if the pressure used by the stronger party was unconscionable.
D) The court will only enforce the agreement if the weaker party could have chosen to deal with another person, but did not do so.
Q3) Under the electronic Transactions Act 1999 (Cth), a contract is formed:
A) When the acceptance is sent to the offeror's email address.
B) When the acceptance is received at the server specified by the offeror.
C) When the offeror reads the offeree's email.
D) When the offeree's email is opened and printed out.
Q4) Explain the difference between an offer and an invitation to treat.
Q5) What is the purpose of an option?
Q6) List the ways in which an offer may be terminated.
Page 10
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Chapter 9: Intention to Create Legal Relations
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Q1) By including the wording 'this agreement is subject to contract' it is clear that the parties do not yet intend to be legally bound to a contract.
A)True
B)False
Q2) What is a letter of comfort?
Q3) In relation to the question of whether the parties could be objectively seen to intend to create legal relations, the courts take into account a number of factors. What are those factors?
Q4) Domestic agreements can never be binding.
A)True
B)False
Q5) Commercial agreements are always intended to be legally binding.
A)True
B)False
Q6) Advertisements are presumed not to intend legal relations. A)True
B)False
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Page 11
Chapter 10: Consideration
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Q1) Simple contracts must contain a bargain.
A)True
B)False
Q2) The promisee is the person undertaking the promise.
A)True
B)False
Q3) The rule in Foakes v Beer was not applied in Hirachand Punamchand v Temple [1911]
2 KB 330 because:
A) The payment was accepted by the creditor.
B) The debt was paid by a third party.
C) The debt was paid with interest.
D) The debt was paid in full.
Q4) The effect of the rules of consideration is that the law can only be used to enforce bargains, but it cannot be used to enforce promised gifts. Is this distinction between gifts and bargains a fair one?
Q5) Why is consideration important in respect to contracts? In your answer compare the types of consideration supported by relevant cases.
Q6) Is it possible for past consideration to be good consideration?
Q7) Explain what is meant by the expression 'valuable consideration.'
Page 12
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Chapter 11: Capacity of the Parties
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Q1) In Blomley v Ryan (1956) 99 CLR 362:
A) The court held that it would be unfair to enforce the contract against the farmer.
B) The court granted an order for specific performance against the farmer.
C) The court held that the farmer although drunk, still understood what he was doing and therefore the contract was valid.
D) The court held that the farmer was so drunk that his judgment was affected and this was known to Blomley.
Q2) For a beneficial contract of service to be valid, the benefits should outweigh any harsh conditions.
A)True B)False
Q3) How does the law prevent a minor taking advantage of the laws relating to the contractual capacity of minors?
Q4) In respect to beneficial contracts of service for infants in respect to all forms of training and employment, what factors do the courts take into account?
Q5) Do all persons, natural and legal, have full contractual capacity to enter into contracts?
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Page 13
Chapter 12: Genuine Consent
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Q1) A contract induced by fraud is void.
A)True
B)False
Q2) Only mistakes of law can render a contract void.
A)True
B)False
Q3) Which of the following is NOT one of the activities prohibited under the Australian Consumer Law?
A) Representations as to the future.
B) False Or misleading representations about past conduct.
C) Misleading conduct relating to employment.
D) False or misleading representations in relation to land.
Q4) In which of the following cases was the plaintiff able to establish mistake so that the contract was found to be void?
A) Leaf v International Galleries [1950] 2 KB 86.
B) McRae v Commonwealth Disposals Commission (1951) 84 CLR 377.
C) Lewis v Avery [1972] 1 QB 198.
D) Cundy v Lindsay [1878] 3 App Cas 459.
Q5) Explain the difference between duress and undue influence.
Q6) Explain the difference between innocent and fraudulent misrepresentation.
Page 14
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Chapter 13: Is the Contract Legal
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Q1) Why were the contracts enforced by the court in the case of: Yango Pastoral Company Pty Ltd v First Chicago Australia Ltd [1978] HCA 42?
A) The prohibition was in the public interest.
B) The prohibition related to the operation of the business rather than formation of the contract.
C) The plaintiffs were responsible for the breach.
D) The illegal behavior was only incidental to performance of the contract.
Q2) A restraint of trade contract will be void if:
A) The time for which the restraint is to apply is too long.
B) The geographical extent of the restraint is too wide.
C) The restraint does not apply to a proprietary interest of the person applying the restraint.
D) Any of the above.
Q3) The courts adopt a different approach depending upon the circumstances in which a restraint may be imposed. Discuss.
Q4) Contracts in restraint of trade are regarded as prima facie void.
A)True
B)False
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Page 15
Chapter 14: Terms of the Contract
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Q1) What was the reason for the decision in the case of Hoyts Pty Ltd v Spencer (1919) 27 CLR 133?
A) The oral statement was promissory and therefore enforceable as a collateral contract.
B) The oral statement was representational rather than promissory.
C) The oral statement was intended to form part of the agreement between the parties.
D) The oral statement was inconsistent with the terms of the written document.
Q2) Why was the dry cleaning company held to be liable in Curtis v Chemical Cleaning & Dyeing Co [1951] 1 KB 805?
A) Because the contract so provided.
B) Because the exemption clause in the contract was illegal.
C) Because exemption clauses are not enforceable.
D) Because the purpose of the exemption clause in the contract was misrepresented by the shop assistant.
Q3) In order for a party to rely on an exclusion clause in a contract, what must they show?
Q4) What is the court's rationale for distinguishing between 'representations' and 'terms'? Do you agree with this rationale?
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Page 16
Chapter 15: Rights and Liabilities of the Parties, Discharge and Remedies
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Q1) Which of the following is the best description of discharge by release?
A) A party who has already performed their obligation chooses to relieve the other party from performing their obligation.
B) Both parties abandon their original agreement while it is still executory.
C) One party leads the other to reasonably believe that strict performance will not be insisted upon.
D) A party who has already performed their obligation agrees to relieve the other party from performing their obligation in return for their doing something different.
Q2) Which of the following is NOT an exception to the doctrine of privity of contract?
A) Estoppel.
B) Negotiable instruments.
C) A lease.
D) A contract for the sale of land.
Q3) Describe the quantum meruit rule and when it arises.
Q4) Only a party to an insurance policy can obtain an indemnity under it.
A)True
B)False
Q5) Explain the meaning of novation and what does it create.
Page 17
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Chapter 16: Remedies in Contract
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Q1) In most Australian jurisdictions, the right to sue for breach of a simple contract is limited to the period of 6 years from the date on which the right of action accrues.
A)True
B)False
Q2) Damages are a common law remedy, whereas specific performance and injunction are equitable remedies. How do common law remedies and equitable remedies differ?
Q3) Which of the following statements is the best description of the duty of the injured party to 'mitigate' their loss?
A) They must take all reasonable steps to minimise their loss.
B) They must take all reasonable steps to prevent the breach.
C) They must take all reasonable steps to report the breach to the court.
D) They must take all reasonable steps to transfer the loss to the party in breach.
Q4) What is the purpose of rescission?
Q5) Exemplary damages are awarded when the court feels that it needs to punish the party in default.
A)True
B)False
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Page 18
Chapter 17: Statutory Consumer Guarantees and the Australian Consumer Law
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Q1) The Australian Consumer Law replaces the Sale of Goods Acts in all states and territories.
A)True
B)False
Q2) Which of the following remedies are available to a consumer for a major failure to comply with a consumer guarantee?
A) Rejection of the goods, plus compensation and damages for any foreseeable loss.
B) Rejection of the goods or compensation plus damages for any foreseeable loss.
C) Rejection of the goods or compensation.
D) Rejection of the goods, plus compensation or damages for any foreseeable loss.
Q3) Which of the following is NOT a consumer guarantee in relation to the supply of services to a consumer?
A) The services will be supplied within a reasonable time.
B) The services will be of acceptable quality.
C) The services will be rendered with due care and skill.
D) The services will be reasonably fit for any disclosed purpose for which they are supplied.
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Page 19
Chapter 18: General and Specific Consumer Protections
Under the Acl
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Q1) Accepting payment without intending to supply is not an offence under the ACL but rather an offence under the Crimes Act 1901.
A)True
B)False
Q2) What was the reason for the decision in Parkdale Custom Built Furniture Pty Ltd v Puxu Pty Ltd (1982) 149 CLR 191?
A) The target audience of the conduct would not be misled into thinking there was a connection between the two products.
B) A purchaser could be misled if someone removed the labels without the manufacturer's knowledge.
C) The products were clearly labelled so there was nothing more the manufacturer could do.
D) The conduct could cause consumers to wonder if the products were made by the same manufacturer.
Q3) The onus of proving that a transaction is a consumer sale is always on the consumer.
A)True
B)False
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Chapter 19: Agency
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Q1) The parties may terminate an agency agreement by:
A) Resignation by the agent.
B) Mutual agreement.
C) Revocation by the principal.
D) All of the above.
Q2) In what circumstances will Samson be an employer and David an independent contractor?
A) Samson is paying David to perform a task and David is subject to the control and direction of Samson.
B) David has authority to bind Samson to a contract with a third party.
C) Samson is paying David to perform a task but has no control over how David will complete the task.
D) David is claiming to be Samson's legal representative.
Q3) The reason for the classification of agents is to determine the actual extent of an agent's authority.
A)True
B)False
Q4) Describe how an agency relationship can be terminated.
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Chapter 20: Introduction to Companies and Incorporated
Associations
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Q1) What is meant by the term 'share capital'?
Q2) Which type of company is the most appropriate for a non-profit sporting association to form?
A) Public limited company.
B) Non-profit associations can't form corporations.
C) Company limited by guarantee.
D) No liability company.
Q3) The case of Morley v Statewide Tobacco Service Ltd (1992) ACLC 1233 is authority for the principle that:
A) A director will not be liable for a breach of s 588G if they were unable to attend company meetings.
B) A director's liability under s 588G is determined by what they ought to have known about the company's debts.
C) A director's liability under s 588G is determined by their actual knowledge of the company's debts.
D) A director will not be liable for a breach of s 588G if they acted in good faith.
Q4) In what circumstances will a director be personally liable for the debts of the company?
Page 22
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Chapter 21: Partnerships
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Q1) An important difference between a partnership and a joint venture is the fiduciary nature of a partnership relationship.
A)True
B)False
Q2) Which of the following situations is most likely to be a partnership?
A) Adam and Bruce are joint owners of a property.
B) Adam and Bruce work together on a single venture.
C) Adam and Bruce share the net profits from a business.
D) Adam and Bruce share the gross returns from a business.
Q3) According to the Partnership Acts, the liability of partners in contract is severable.
A)True
B)False
Q4) A partnership is automatically dissolved if one of the partners dies.
A)True
B)False
Q5) How would you explain to a person intending to form a partnership that although a written partnership agreement is not legally necessary, it is desirable?
Q6) What are the three factors that determine whether a partnership exists?
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Chapter 22: Choosing a Business Entity
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Q1) Which of the following is NOT a means of protection of a registered business name?
A) Passing off.
B) Breach of the Business Names Registration Act 2011 (Cth).
C) A breach of trade mark.
D) Misleading and deceptive conduct under the Competition and Consumer Act 2010 (Cth).
Q2) Which of the following statements about a sole trader is NOT true?
A) A sole trader may have difficulty in raising business capital.
B) The sole trader must generally consult with customers, creditors and employees in deciding what the business will and will not do.
C) Anyone with contractual capacity can be a sole trader.
D) The liability of a sole trader is unlimited and personal.
Q3) Visit your State or Territory's business affairs site and prepare a step-by-step guide to registering a business name.
Q4) A trustee is a person who benefits under the trust.
A)True
B)False
Q5) What is the purpose of registering a business name?
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Chapter 23: Other Business-Related Torts
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Q1) The tort of intimidation involves threats of an unlawful act.
A)True
B)False
Q2) Which of the following statements about defamation is NOT correct?
A) Only the living can sue for defamation.
B) Damage to personal reputation is central to any defamation action.
C) A person who republishes defamatory material is equally liable for the defamation.
D) Reference to members of a class of people is actionable by members of that class.
Q3) Explain the meaning of private nuisance and what the plaintiff must prove to succeed.
Q4) Which of the following defamatory statements would NOT be protected by the defence of 'Absolute Privilege'?
A) A defamatory statement contained in a letter to the editor published in a newspaper.
B) A defamatory statement made in the course of judicial proceedings.
C) A defamatory statement made by a Minister during parliamentary proceedings.
D) A defamatory statement made in a statutory inquiry.
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Chapter 24: Insurance
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Q1) Alexandra insures her car, worth $10,000, for $8,000 with Company Ace and for $7,000 with Company Bee. If the car is written off and Company Ace pays her $8,000, how much is she entitled to receive from Company Bee?
A) $2,000.
B) $0.
C) $1,000.
D) $7,000.
Q2) The doctrine of subrogation:
A) Is limited in its application by the Insurance Contracts Act 1984 (Cth).
B) Continues without restriction.
C) Was abolished by the Insurance Contracts Act 1984 (Cth).
D) Was overruled by the High Court.
Q3) Subrogation applies to all contracts of insurance. A)True B)False
Q4) Explain the purpose of a cover note.
Q5) The object of insurance is to spread the risk amongst all the insured. A)True B)False
Q6) List the duties of an insurance agent or insurance broker.
Page 26
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Chapter 25: Sale of Goods
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Q1) If the seller fails to deliver the goods, the buyer's only remedy will be damages for non-delivery.
A)True
B)False
Q2) Which of the following is NOT a remedy of an unpaid seller?
A) Sue for the price if property has passed.
B) Damages.
C) Re-sell goods still in their possession.
D) Specific performance.
Q3) The term caveat emptor means:
A) The buyer must beware.
B) The buyer must be protected.
C) The buyer must be blamed.
D) The buyer must be warned.
Q4) The terms 'property' and 'possession' mean one and the same thing in law.
A)True
B)False
Q5) An unpaid seller has rights against the goods and against the buyer.
A)True
B)False
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Chapter 26: Electronic commerce
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Q1) Electronic banking is regulated by:
A) The Code of Banking Practice.
B) The Electronic Funds Transfer Code of Practice.
C) The Building Society Code of Practice.
D) All of the above.
Q2) What is 'Cybersquatting'?
Q3) The Electronic Transactions Act 1999 (Cth) provides a legal framework to support and encourage electronic commerce.
A)True
B)False
Q4) Which of the following is NOT included in the definition of Electronic Funds Transfer?
A) Paying bills by BPAY.
B) Using a card to withdraw money from an ATM or EFTPOS terminal.
C) Transferring money between two bank accounts via the internet.
D) Purchasing goods in a shop using a credit card.
Q5) There is no entitlement to statements or paper receipts if the transaction is made electronically.
A)True
B)False
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Chapter 27: Property and mortgages
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Q1) Which of the following is NOT one of the remedies of a mortgagee?
A) Register a caveat to protect their interest.
B) Sue the mortgagor personally for the debt.
C) Exercise power of sale over the mortgaged land.
D) Foreclose and acquire ownership of the mortgaged land.
Q2) In what circumstances will native title that has been extinguished by a grant of freehold be 'revived'?
A) By a Crown grant.
B) By the resumption of the land by the Crown.
C) By an act of the executive.
D) Once extinguished, native title can never be revived.
Q3) A strata title is evidence of ownership of a lot on a horizontal subdivision of land and/or airspace.
A)True
B)False
Q4) A transaction in which an interest in land is given as security for repayment of money lent is called a caveat.
A)True
B)False
Q5) What is the meaning of the term 'survivorship' in respect to interests in land?
Page 29
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Chapter 28: Intellectual propert
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Q1) Once a design is registered, protection lasts for 70 years from the date of filing the application.
A)True
B)False
Q2) Contrast an infringement of a registered trademark with an action in passing off.
Q3) Protection under the Copyright Act 1968 (Cth) does not extend to include computer programs.
A)True
B)False
Q4) In the context of patent registration, what does the term 'useful' mean?
A) The invention is capable of being used in a practical way.
B) The invention is mechanical rather than biological.
C) The invention is not known publicly.
D) The invention involves an inventive step.
Q5) Copyright in a literary work published during the author's lifetime lasts:
A) For 70 years from the year of the author's death.
B) For 70 years.
C) For 70 years from the year of publication.
D) Indefinitely.
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Chapter 29: Ethics and business practice
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Q1) Which of the following would be an example of insider trading?
A) A person uses confidential information that is not publicly available and profits by purchasing shares based on that information.
B) A person asks their friend to purchase shares for them.
C) A person purchases shares on the stock market without knowing whether those shares will appreciate in the future.
D) A person uses publicly available information to purchase shares on the stock market.
Q2) Morals are concerned with the distinction between right and wrong.
A)True
B)False
Q3) Business ethics is about how we conduct our business affairs.
A)True
B)False
Q4) Ethical investment involves investing in companies in order to make them behave ethically.
A)True
B)False
Q5) What are some of the benefits to business in acting ethically?
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Chapter 30: Criminal law in a business context
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Q1) Which of the following is NOT an element of insider trading?
A) The use of price sensitive information which is not publicly available.
B) The use of price sensitive information.
C) The theft of confidential information.
D) The use of information gained as a result of a connection with a company.
Q2) In the context of criminal law, what is the meaning of the term: actus reus?
A) The guilty mind.
B) The guilty act.
C) The wrongful mind.
D) The wrongful act.
Q3) In a criminal trial, the burden of proof will be:
A) On the police to prove the guilt of the accused.
B) On the accused to prove their innocence.
C) On the accused but may shift to the Crown in offences of strict liability.
D) On the Crown but may shift to the accused in offences of strict liability.
Q4) A company will be criminally liable for the acts of an employee if they commit an offence while acting within the actual or apparent scope of their employment.
A)True
B)False
Q5) What is the difference between embezzlement and theft/robbery?
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Chapter 31: Restrictive trade practices
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Q1) When a bank insists that a borrower should insure the mortgaged property with an insurance company in which the bank has a substantial interest:
A) The bank is engaged in 'third line forcing' in breach of s 47(6) of the Competition and Consumer Act 2010 (Cth).
B) The bank is engaged in a 'secondary boycott' in breach of s 45D of the Competition and Consumer Act 2010 (Cth).
C) The bank has entered into an 'exclusionary agreement' in breach of s 45 of the Competition and Consumer Act 2010 (Cth).
D) All of the above.
Q2) Which of the following is NOT one of the functions of the Australian Competition and Consumer Commission?
A) Hearing appeals from decisions to grant or revoke authorisations.
B) Educating the public and the business community by providing consumer guidance.
C) Administering and enforcing the Competition and Consumer Act 2010 (Cth).
D) Authorising otherwise prohibited restrictive trade practices.
Q3) What is the role and function of Australian Competition and Consumer Commission?
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Chapter 32: Negotiable instruments
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Q1) Crossing a cheque means that the cheque cannot be:
A) Transferred.
B) Negotiated.
C) Cashed over the counter.
D) Paid into an account.
Q2) Adam writes a cheque in favour of Bruce on a cheque form issued by CitiBank. In this situation who is Citibank?
A) The drawee.
B) The drawer.
C) The payee.
D) None of the above.
Q3) What is the difference between a cheque crossed as 'Not Negotiable' and a cheque with a general crossing?
Q4) Who are the parties involved in a credit card transaction?
A) The cardholder and the bank.
B) The merchant and the bank.
C) The cardholder, the cardholder's bank, the merchant and the merchant's bank.
D) The cardholder, the merchant and the bank.
Q5) Explain the difference between the nemo dat rule and negotiability as an exception to this rule.
Page 34
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Chapter 33: Insolvency and Debt Recovery
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Q1) In what circumstances may a director be personally liable for the debts of an insolvent company?
A) The director reasonably expected that the company was solvent.
B) The director was entirely ignorant of the operations of the insolvent company.
C) The director reasonably relied on information from another that the company was solvent.
D) The director did not take part in the management of the company due to illness.
Q2) In the context of debt recovery proceedings, which of the following is NOT a consideration when establishing a cause of action?
A) The balance of legal costs against the amount of the debt.
B) Evidence of breach of the contract.
C) The existence of a contract.
D) Calculation of the loss suffered.
Q3) The court will reject the creditor's petition unless the creditor can prove the debtor owes a minimum of $10,000.
A)True
B)False
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Chapter 34: The Work Environment and the Employment Relationship
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Q1) In which of the following circumstances is an employer entitled to dismiss an employee without notice?
A) Misconduct, disobedience, incompetence or negligence.
B) Repudiation by the employee of their contract of employment.
C) Breach of a serious nature.
D) All of the above.
Q2) Which of the following is NOT a ground for exemption from the workplace discrimination laws?
A) Employment in a small private household.
B) Impairment.
C) Genuine occupational requirement.
D) All of the above.
Q3) The Fair Work Act 2009 (Cth) is based on which head of constitutional power?
A) The industrial relations power.
B) The corporations power.
C) The external relations power.
D) The workplace relations power.
Q4) Briefly explain how equal opportunity in the workplace is an alternative to discrimination and its relationship with the principle of affirmative action.
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Chapter 35: Consumer Credit and Privacy
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Q1) If a borrower has previously settled a dispute with a credit provider they cannot later apply to the court to reopen the transaction for unconscionability.
A)True
B)False
Q2) A linked credit provider may be liable for any loss or damage cause by defective goods or services provided by the supplier.
A)True B)False
Q3) Which of the following is NOT one of the pre-contractual requirements for a binding credit agreement?
A) The credit contract must clearly state the purpose for which the credit is provided.
B) The credit provider must give the borrower a statement of financial details.
C) The borrower must be given a statement of their rights and obligations.
D) The credit contract must be in writing, signed by the borrower and the credit provider.
Q4) The Australian Privacy Principles prohibit the use of pseudonyms by individuals.
A)True B)False
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Chapter 36: Ethics and Regulations in Marketing and Advertising
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Q1) Which of the following is the best description of a 'pyramid scheme'?
A) A multi-level marketing scheme that rewards participants for products sold.
B) A distribution chain involving retailers and their customers.
C) A scheme based on a representation that a person has agreed to acquire goods or services when that is not the case.
D) A scheme whereby participants are invited to sell products and to receive a reward or benefit for introducing new participants to the scheme.
Q2) The case of Carlill v Carbolic Smoke Ball Co [1893] 1 QB 256 is authority for the principle that there is no contract between an advertiser and a consumer.
A)True
B)False
Q3) The question of ethics in a business context is relevant to:
A) Identifying the boundaries between acceptable and unacceptable behavior.
B) Avoiding liability for breach of the law.
C) Delivering a profit to shareholders.
D) All of the above.
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