Entrepreneurship and Law
Question Bank
Course Introduction
Entrepreneurship and Law explores the legal principles and frameworks critical to launching and operating new ventures. The course examines the intersection of business and law, including topics such as business formation, intellectual property protection, contract negotiation, employment law, regulatory compliance, and funding legalities. Through case studies and practical exercises, students gain insight into how to identify and navigate legal risks while fostering innovation and strategic growth in entrepreneurial enterprises.
Recommended Textbook Business Law 9th Edition by Andy Gibson
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Chapter 1: Legal Foundations
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Sample Questions
Q1) In Chapter 1, the following useful definition of law is offered: 'A set of rules, developed over a long period of time regulating people's interactions with each other and which sets standards of conduct between individuals and other individuals, and individuals and the government and which are enforceable through sanction.' Can you identify and explain any problems with or omissions from this definition?
Answer: One potential problem with this definition is that it focuses primarily on the regulation of interactions between individuals and between individuals and the government. It does not explicitly mention the regulation of interactions between businesses, organizations, or other entities. Additionally, the definition does not address the role of law in promoting justice, equality, or the protection of individual rights. It also does not acknowledge the role of law in shaping societal norms and values. Furthermore, the definition does not consider the dynamic nature of law and how it evolves over time in response to changing social, economic, and political conditions. Overall, while the definition provides a basic understanding of law as a set of rules regulating interactions and enforceable through sanctions, it overlooks important aspects of the broader societal and ethical implications of law.
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Page 3
Chapter 2: Origins of Australian Law
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Q1) According to the doctrine of the separation of powers, which branch or arm of government actually makes the law?
A) The Legislature.
B) The Judiciary.
C) The Executive.
D) All of the above.
Answer: A
Q2) 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
Q3) Which British law transformed the six Australian colonies into states at federation?
A) The Statute of Westminster 1931 (Imp).
B) The Commonwealth of Australia Constitution Act 1900 (Imp).
C) The Australian Colonies Government Act 1850 (Imp).
D) The Colonial Laws Validity Act 1865 (Imp).
Answer: B
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4
Chapter 3: Legal Systems
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Sample Questions
Q1) Which of the following statements is the most correct?
A) A court may only judge matters brought before it which are within its jurisdiction.
B) A court is able to judge any matter brought before it.
C) A court has the power to overrule a decision by another court.
D) None of the above.
Answer: A
Q2) In Western Australia, a civil dispute involving an amount of $175,000 would commence in which court?
A) Magistrates Court.
B) Court of Appeal.
C) Supreme Court.
D) District Court.
Answer: D
Q3) Consumer claims under the Australian Consumer Law are dealt with by the Australian Competition and Consumer Tribunal.
A)True
B)False
Answer: False
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Chapter 4: How Law Is Made: Precedentstatute Law
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Q1) Explain the doctrine of <i>res judicata.</i>
Q2) Which of the following is the most correct description of delegated legislation?
A) Rules, regulations, by-laws and orders issued pursuant to the authority of an act of parliament.
B) Rules authorised by the Prime Minister.
C) Regulations issued by the Minister of State.
D) Rules published in the Government Gazette.
Q3) 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.
Q4) Delegated legislation cannot be subject to review in the courts.
A)True
B)False
Q5) The decisions of higher courts in a different hierarchy are binding on lower courts in another hierarchy.
A)True
B)False
Q6) List some of the advantages and disadvantages of the doctrine of precedent.
Page 6
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Chapter 5: Civil Liability: The Law of Torts and Negligence
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Q1) Which of the following is an accurate description of a 'Tort'?
A) An infringement of the interests of a person which entitles them to compensation.
B) A right to sue another person for damages.
C) A civil wrong other than a claim for breach of contract.
D) All of the above.
Q2) A person cannot claim for injury as a result of something which was an obvious risk.
A)True
B)False
Q3) In the law of tort what is the required <i>standard of proof</i> and who must prove it?
A) The plaintiff must prove its case beyond reasonable doubt.
B) The Crown must prove its case on the balance of probabilities.
C) The plaintiff must prove its case on the balance of probabilities.
D) The Crown must prove its case beyond reasonable doubt.
Q4) Describe what a Plaintiff must do in order to succeed in an action for negligence.
Q5) Who is the reasonable person and why is he/she so important in an action for negligence?
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Page 7
Chapter 6: Applications of Negligence to Business
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Q1) Under the civil liability acts, a 'Good Samaritan' will still be liable for an act done:
A) In assisting a person who has not been injured but who is at risk of being injured.
B) While the Good Samaritan is intoxicated.
C) In giving advice about the assistance of a person who has not been injured but who is at risk of being injured.
D) Honestly and without recklessness.
Q2) In which case did the House of Lords first suggest that a negligent misstatement could give rise to an action for financial loss?
A) Donoghue v Stevenson [1932] AC 562.
B) L Shaddock & Associates v Parramatta City Council (No 1) (1981) 150 CLR 225.
C) Hedley Byrne & Co Ltd v Heller & Partners Ltd [1964] AC 465.
D) Esanda Finance Corporation v Peat Marwick Hungerfords (1997) 71 ALJR 448.
Q3) In order to succeed in an action against an occupier, the plaintiff does not have to establish that the defendant has occupation as long as ownership can be established.
A)True
B)False
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Page 8
Chapter 7: Introduction to Contracts
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Q1) A contract is always an agreement but an agreement is not always a contract.
A)True
B)False
Q2) Which of the following conditions is NOT an essential requirement for all contracts?
A) The contract must be in written form.
B) The parties must consent to the contract.
C) The purpose of the contract must be legal.
D) The parties must have capacity to contract.
Q3) What are the elements that are necessary for the creation of a valid simple contract?
Q4) A unilateral contract is one where both parties still have to perform their obligations.
A)True
B)False
Q5) A contract that is wholly in writing is an example of:
A) An executory contract.
B) A contract of record.
C) An executed contract.
D) An express contract.
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Chapter 8: Agreement Between the Parties
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Q1) In Carlill v Carbolic Smoke Ball Co [1893] 1 QB 256, the advertisement placed by the company was:
A) An offer.
B) A statement of intention.
C) An invitation to treat.
D) None of the above.
Q2) According to the postal rule:
A) An acceptance will only be effective it is sent by post.
B) Revocation of an offer is effective as soon as it is posted.
C) Offer and acceptance are only effective when received.
D) An acceptance will be effective if it is sent by post or a faster method.
Q3) If an offer and acceptance cannot be identified, there can never be a contract. A)True B)False
Q4) According to the postal rule, where the parties contemplate the use of the post as a method of communication, an acceptance is effective as soon as it is posted. Why do you think the courts originally developed this rule? Do you think those reasons are still valid today?
Q5) What is the purpose of an option?
Q6) Explain the difference between an offer and an invitation to treat.
Page 10
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Chapter 9: Intention to Create Legal Relations
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Q1) In Shortall v White [2007] NSWCA 272 the presumption against intention was rebutted because:
A) The parties had separated at the time.
B) The agreement would have been against public policy.
C) The promise was made before the relationship had broken down.
D) The promise was made before they were married.
Q2) Commercial agreements are always intended to be legally binding. A)True
B)False
Q3) Why was a promise to make an ex gratia payment held to be contractually binding in the case of Edwards v Skyways Ltd [1964] 1 WLR 349?
A) The parties used clear words.
B) The agreement was commercial and promissory in nature.
C) The parties were both corporate entities.
D) The promise had serious consequences.
Q4) What is the courts' rationale for presuming that agreements made between family members are not intended to be legally binding? Is this a fair presumption?
Q5) What is a letter of comfort?
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Chapter 10: Consideration
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Q1) Consideration must be present or future, it cannot be past.
A)True
B)False
Q2) Estoppel results in a suspension of the promisor's legal rights.
A)True
B)False
Q3) The doctrine of promissory estoppel:
A) Can be used to commence a civil action but not as a defence to a civil action.
B) Can be used to either commence or defend a civil action.
C) Can be used as a defence to a civil action, but not to commence a civil action.
D) All of the above.
Q4) Explain what is meant by the expression 'valuable consideration.'
Q5) Estoppel is based on an assumption of fact or law.
A)True
B)False
Q6) Consideration must have a value that is recognised by the law.
A)True
B)False
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Chapter 11: Capacity of the Parties
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Q1) If the court decides that the goods are necessaries, the infant only has to pay a 'fair and reasonable' price for them.
A)True
B)False
Q2) Why was the plaintiff unsuccessful in obtaining payment in Bojczuk v Gregorcewicz [1961] SASR 128?
A) A loan is a commercial transaction.
B) The loan was a benefit but not a necessary.
C) The loan was a necessary.
D) The defendant already had a good job.
Q3) What is the court's rationale for being reluctant to enforce a contract against a person under the age of 18 years? Do you agree with this rationale? Why or why not?
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) A valid transaction allows the minor to repudiate the contract.
A)True B)False
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Page 13
Chapter 12: Genuine Consent
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Q1) Which of the following situations appears to involve 'unconscionability'?
A) A woman gave all of her property to the religious order of which she was a member.
B) A man induced another to sign a contract by telling him that if he did not, he would report his son to the police for committing a criminal offence.
C) A property developer promised their accountant a share in a business venture in return for a reduction in their bill.
D) An elderly Italian couple sign a mortgage in favour of a bank guaranteeing their son's debts; the bank manager knows the couple are unaware of the son's financial difficulties.
Q2) Where mutual mistake is pleaded, the courts apply an objective standard of the reasonable person.
A)True
B)False
Q3) Why are courts generally reluctant to set aside a contract due to a mistake by one of the parties? Do you agree with this reluctance?
Q4) In order to succeed in an action in negligent misrepresentation, what must the plaintiff establish in a court?
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Page 14
Chapter 13: Is the Contract Legal
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Q1) Contracts that are binding in honour only but attempt to oust the jurisdiction of the Courts are valid.
A)True
B)False
Q2) An employee in possession of secret information belonging to their employer is under a duty to keep it secret.
A)True
B)False
Q3) A term in a contract that attempts to exclude the implied terms of the Australian Consumer Law is void and unenforceable.
A)True
B)False
Q4) A contract deemed illegal when it is formed will be:
A) Valid and enforceable.
B) Valid but unenforceable.
C) Valid but voidable.
D) Void and unenforceable.
Q5) What are some of the factors that are used to determine whether a restraint of trade is reasonable?
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Chapter 14: Terms of the Contract
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Q1) If a collateral contract is inconsistent with an exclusion clause in the main contract, the collateral contract will prevail.
A)True
B)False
Q2) Which of the following is NOT an approach to interpretation of an exclusion clause?
A) An exclusion clause will be strictly construed against the party relying on it.
B) An exclusion clause will not apply if it produces harsh consequences.
C) An exclusion clause will not apply to actions outside the contract.
D) An exclusion clause will be interpreted by construction of the contract as a whole.
Q3) In order for a party to rely on an exclusion clause in a contract, what must they show?
Q4) Which of the following statements is incorrect?
A) The difference between a representation and a term depends on the intention of the parties.
B) The test to distinguish a representation from a term is an objective one.
C) A representation that induces a party to enter a contract will be a term.
D) A representation that is not a term is not actionable in contract law.
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Chapter 15: Rights and Liabilities of the Parties, Discharge and Remedies
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Q1) Using case law examples, demonstrate how the doctrine of frustration has evolved over the last 200 years.
Q2) Describe the quantum meruit rule and when it arises.
Q3) Payment of money due under a contract must be made to the other party at its normal place of business or as directed by the contract.
A)True
B)False
Q4) If one party indicates that they will not be performing their part of the contract prior to the time for performance, the innocent party must wait until the due date before they can sue for breach.
A)True
B)False
Q5) A claim for quantum meruit can be made even where the contract is classified as entire.
A)True
B)False
Q6) A contract that has been breached is void ab initio.
A)True
B)False
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Chapter 16: Remedies in Contract
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Q1) Restitution is a remedy for breach of contract.
A)True
B)False
Q2) Which of the following statements is the best description of the remedy of 'specific performance'?
A) The injured party is entitled to set aside the contract and be restored to their pre-contractual position.
B) The party at fault is restrained from breaching the contract or from committing a wrongful act.
C) The party at fault is directed to carry out their obligations under the contract.
D) The party at fault has unjustly obtained a benefit at the injured party's expense and is ordered to restore it to the injured party.
Q3) What is meant by the term 'damages'?
Q4) What is the purpose of rescission?
Q5) Enforcement of contractual rights involves seeking the appropriate remedy.
A)True
B)False
Q6) What is a penalty?
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Chapter 17: Statutory Consumer Guarantees and the Australian Consumer Law
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Q1) When will a buyer of defective goods NOT be protected under the Australian Consumer Law?
A) If the defect was brought to their attention by the supplier.
B) If the buyer caused the damage to the goods.
C) If the buyer examines the goods and fails to discover an obvious defect.
D) All of the above.
Q2) Which of the following will NOT protect a manufacturer from liability for a breach of the consumer guarantee of fitness for purpose?
A) If the consumer did not rely on the skill or judgment of the manufacturer.
B) If it was caused by something outside human control after it left the manufacturer.
C) If it was cause by something outside human control during manufacture.
D) If it was caused by someone else.
Q3) Section 64 of the Australian Consumer Law prevents a consumer from agreeing to exclude, restrict or modify their consumer guarantee rights in any way.
A)True
B)False
Q4) What is the difference between a sale by sample and a sale by description?
Q5) Under the Australian Consumer Law, who is a consumer?
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Chapter 18: General and Specific Consumer Protections
Under the Acl
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Q1) Where a corporation or person in trade or commerce claims a right to payment from another person for unsolicited goods or services, it is known as inertia selling.
A)True
B)False
Q2) The Australian Consumer Law in ss 20 to 22 provides remedies for:
A) Unconscionable conduct when supplying goods or services to a person (other than a listed public company).
B) Unconscionable conduct at common law by a person in the course of trade or commerce.
C) Unconscionable conduct when acquiring goods or services from a person (other than a listed public company).
D) All of the above.
Q3) Which of the following does NOT need to be established in order for a manufacturer to be liable for defective goods?
A) A person is injured.
B) The goods have a safety defect.
C) The injury was foreseeable.
D) The manufacturer supplies goods in trade or commerce.
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Chapter 19: Agency
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Q1) Which of the following is a right that an agent does NOT have without express or implied agreement to the contrary?
A) The right to be reimbursed for authorised expenses.
B) The right to be remunerated.
C) The right to retain possession of the principal's goods until the agent has been paid.
D) The right to be indemnified against liabilities incurred while carrying out the principal's instructions.
Q2) An agent can sue for breach of contract if their authority is revoked without their consent.
A)True
B)False
Q3) In what circumstances will Adam be a principal and David an agent?
A) David has authority to bind Adam to a contract with a third party.
B) Adam is paying David to perform a task but has no control over how David will complete the task.
C) David is claiming to be Adam's legal representative.
D) Adam is paying Eve to perform a task to be carried out by David.
Q4) Describe how an agency relationship can be terminated.
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Page 21
Chapter 20: Introduction to Companies and Incorporated
Associations
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Q1) A company limited by shares may be either a public or proprietary company.
A)True
B)False
Q2) The process of bringing a solvent company to an end is known as a creditor's voluntary winding up.
A)True
B)False
Q3) Which of the following is NOT one of the statutory duties of a director under the Corporations Act 2001 (Cth)?
A) Act in good faith.
B) Avoid insolvent trading.
C) Disclose personal interests.
D) None of the above.
Q4) Which of the following is NOT an advantage of incorporation for members of an association?
A) The association can enter into contracts.
B) The association is permitted to distribute its profits to members.
C) The association can sue and be sued in its own name.
D) The association has perpetual succession.
Q5) What is meant by the term 'share capital'?
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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) A person who obtains credit for a partnership may make themselves liable to the supplier by 'holding out.'
A)True
B)False
Q3) The existence of a partnership is to be determined from what the parties do rather than what the parties call themselves.
A)True
B)False
Q4) A limited liability partnership can have a maximum of 20 limited partners.
A)True
B)False
Q5) What are the three factors that determine whether a partnership exists?
Q6) 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?
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Chapter 22: Choosing a Business Entity
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Q1) Which of the following statements about a franchise is NOT true?
A) The franchisee retains the goodwill of the business on expiry of the agreement.
B) The franchisor provides training and support to the franchisee.
C) The franchisor has significant control over the franchised business.
D) A franchisee is self employed.
Q2) Which of the following is NOT one of the duties of a trustee?
A) Preserve the trust property.
B) Indemnify the beneficiaries for any losses.
C) Act in accordance with the trust.
D) Avoid conflict of interest and personal benefit.
Q3) Which type of trust gives the trustee the power to choose the beneficiaries and the amounts to be paid to them?
A) Fixed trust.
B) Trading trust.
C) Discretionary trust.
D) Constructive trust.
Q4) Visit your State or Territory's business affairs site and prepare a step-by-step guide to registering a business name.
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) Which of the following statements about private nuisance is NOT correct?
A) The remedies are injunction and/or damages.
B) Only the person in occupation of land can sue for nuisance.
C) The nuisance must be substantial and unreasonable.
D) The nuisance must cause physical damage to the plaintiff's property.
Q2) Which of the following statements is the best description of 'Assault'?
A) An intentional act which causes another to reasonably believe that they are in imminent danger of harmful or offensive contact.
B) An intentional or negligent act which brings about an immediate or direct harmful or offensive contact to another.
C) An intentional, direct and total restraint upon the liberty of another.
D) A statement made to another in a way that is intended to cause physical injury to them and that does in fact cause a reasonably foreseeable physical harm to them.
Q3) Breach of statutory duty is a tort of strict liability.
A)True
B)False
Q4) Are there any business-related torts which you believe to be redundant, out of date or irrelevant to modern business? Explain your answer.
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Page 25
Chapter 24: Insurance
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Q1) Insurable interest means that the insured must suffer a pecuniary or financial loss.
A)True
B)False
Q2) All contracts of insurance are contracts of indemnity.
A)True
B)False
Q3) Make a list of the differences between the regulation of general insurance and the regulation of life insurance.
Q4) 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.
Q5) Life insurance policies are treated as ongoing contracts and therefore not subject to renewal.
A)True
B)False
Q6) What is the relationship between insurance law and tort law?
Q7) Explain the purpose of a cover note.
Page 26
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Chapter 25: Sale of Goods
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Q1) Why was the buyer able to refuse to pay for the goods in the case of Healy v Howlett & Sons [1919] 1 KB 337?
A) Property and risk remained with the seller.
B) The goods were unascertained.
C) The goods were identified by description only.
D) All of the above.
Q2) Which of the following is NOT an exception to the nemo dat quod non habet rule?
A) The goods are purchased by a person with statutory or common law powers.
B) The seller is selling as a factor or mercantile agent.
C) The owner gives the impression that the seller has authority to sell.
D) The goods are purchased in a public market by a buyer in good faith and without knowledge of the seller's lack of title to sell.
Q3) Which of the following statements does NOT have the same meaning as the other three?
A) Sophie has control of the goods.
B) Sophie has property in the goods.
C) Sophie has custody of the goods.
D) Sophie has possession of the goods.
Q4) What is the nemo dat rule?
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Chapter 26: Electronic commerce
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Q1) An electronic signature is a method of authenticating an electronic transmission.
A)True
B)False
Q2) Which of the following is NOT an offence under the Cybercrime Act 2001 (Cth)?
A) Unauthorised access to, or modification of, restricted data.
B) Hacking into a bank computer and accessing credit card details.
C) Harassment by electronic means.
D) Causing a website to be inundated with a large volume of unwanted messages resulting in an overloading and crashing of the computer system.
Q3) Locate the terms and conditions of a website which you frequently visit. Do those terms and conditions cover all of the issues listed on page 672 of the text?
Q4) Which of the following does NOT need to be stated on an e-commerce website?
A) An Australian Company Number (ACN) or Australian Business Number.
B) A real name, street address and telephone.
C) Security when transferring detail and privacy policy.
D) The hours during which the business can be contacted.
Q5) What is an electronic communication?
Q6) What is 'Cybersquatting'?
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Chapter 27: Property and mortgages
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Q1) A fixture is classified as:
A) Real property.
B) A chose in possession.
C) A chattel real.
D) A chose in action.
Q2) What is the meaning of the term 'survivorship' in respect to interests in land?
Q3) If a residence is partly used for business purposes, the residential tenancies legislation will cease to apply.
A)True
B)False
Q4) Under the Torrens title system, title is based on registration.
A)True
B)False
Q5) According to the Native Title Act 1993 (Cth), a person wishing to explore or mine land subject to a native title claim:
A) Must first obtain the consent of the claimants.
B) Must first notify the claimants.
C) Must first negotiate with the claimants.
D) Cannot proceed to mine until the claim is resolved.
Q6) Describe the three main types of property.
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Chapter 28: Intellectual propert
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Q1) In order to be enforced, an innovation patent must first be examined and certified by the Australian Patent Office.
A)True
B)False
Q2) Which of the following statement about design is NOT correct?
A) Designs are used for an industrial purpose.
B) A design must have a visual feature that serves a functional purpose.
C) A 'product' is a thing that is manufactured or hand made.
D) 'Design' refers to the overall appearance of a product.
Q3) Unless a trade mark is registered, the owner has no protection.
A)True
B)False
Q4) Which of the following is NOT one of the requirements for a design to be registered under the Designs Act 2003 (Cth)?
A) The design must satisfy a detailed examination by the registering authority.
B) The design must be new and distinctive.
C) The application must comply with the statutory formalities.
D) The applicant must be the owner of the design.
Q5) What constitutes fair dealing?
Q6) Where does copyright exist?
Page 30
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Chapter 29: Ethics and business practice
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Q1) The distinction between the letter and the spirit of the law is largely a moral or ethical question.
A)True
B)False
Q2) Why is tax evasion considered to be unethical?
A) The taxpayer is trying to avoid paying their share towards community services.
B) Tax money is often used for purposes with which the taxpayer does not agree.
C) It is illegal.
D) Everyone pays tax in some form.
Q3) Ethical investment involves investing in companies in order to make them behave ethically.
A)True
B)False
Q4) Which of the following is NOT one of the fundamentals of the definition of the law?
A) Law is a set of rules that regulates people's interactions with one another.
B) Law imposes penalties that are enforceable through sanction.
C) Law sets standards of conduct.
D) Law is a set of rules determined by the ruler of a country.
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Chapter 30: Criminal law in a business context
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Q1) When will company directors and managers be found criminally liable for breach of duties imposed by the Corporations Act 2001 (Cth)?
A) If they fail to act in good faith and in the best interests of the company.
B) If the breach is recklessly or intentionally dishonest.
C) There is no criminal liability for breach of duties under the Act.
D) If it is a civil penalty provision.
Q2) In respect of a criminal prosecution, who has the burden of proof and what is the standard of proof?
Q3) Which of the following is prohibited under the Cybercrime Act 2001 (Cth)?
A) Unauthorised modification of data.
B) Unauthorised access, modification or impairment with intent to commit a serious offence.
C) Unauthorised impairment of electronic communication.
D) All of the above.
Q4) 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.
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Chapter 31: Restrictive trade practices
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Q1) Actions to enforce the Act are heard by the Australian Competition Tribunal.
A)True
B)False
Q2) Only corporations can be liable for breaches of the Competition and Consumer Act 2010 (Cth).
A)True
B)False
Q3) The Competition and Consumer Act 2010 (Cth) prohibits the existence of monopolies.
A)True
B)False
Q4) What is the main reason for the practice of resale price maintenance?
A) Resale price maintenance is likely to increase demand for the product.
B) Resale price maintenance is an advertising ploy.
C) Discounting is perceived as anti-competitive.
D) Discounting is perceived as detrimental to the market status of the product.
Q5) The secondary boycott provisions are often used by employers as a means of settling industrial disputes.
A)True
B)False
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Chapter 32: Negotiable instruments
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Q1) Negotiability means that a person who takes an instrument in good faith will acquire all the rights to it in spite of any defect in title.
A)True
B)False
Q2) In what circumstances would you write a cheque which was not crossed and not marked 'not negotiable'? Do you think that the protections afforded by these markings should be automatic?
Q3) A bill or cheque payable to order is negotiated by which of the following methods?
A) Delivery.
B) Indorsement.
C) Indorsement or delivery.
D) Indorsement and delivery.
Q4) There must be two parties involved in every cheque.
A)True
B)False
Q5) The drawee is the person upon whom the cheque is drawn.
A)True
B)False
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Chapter 33: Insolvency and Debt Recovery
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Q1) Prepare a comparative analysis of the advantages and disadvantages of bankruptcy.
Q2) Which of the following is the correct definition of an 'instalment order'?
A) An order of the court declaring the debtor bankrupt.
B) An order of the court authorising a court officer to seize the goods of the debtor and sell them.
C) An order of the court directing the debtor to pay the debt in specified amounts on specified dates.
D) An order of the court directing a person who owes money to the debtor to pay the money into the court.
Q3) Which of the following is the correct definition of a 'sequestration order'?
A) An order of the court directing a person who owes money to the debtor to pay the money into the court.
B) An order of the court directing the debtor to pay the debt in specified amounts on specified dates.
C) An order of the court authorising a court officer to seize the goods of the debtor and sell them.
D) An order of the court declaring the debtor bankrupt.
Q4) What are the three main aims of the Bankruptcy Act 1966 (Cth)?
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Chapter 34: The Work Environment and the Employment Relationship
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Q1) The terms 'unlawful termination' and 'unfair dismissal' have the same meaning.
A)True
B)False
Q2) The Workplace Health and Safety Act 2011 imposes a duty to secure the health and safety of workers and workplaces on:
A) The person conducting the business or undertaking.
B) Customers and visitors to a workplace.
C) Workers at a workplace.
D) All of the above.
Q3) 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.
Q4) What are the aims of Occupational Health and Safety Legislation?
Q5) Briefly explain how equal opportunity in the workplace is an alternative to discrimination and its relationship with the principle of affirmative action.
Q6) Outline the duties of the employer and employee.
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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) Which of the following is the best definition of a 'related mortgage'?
A) A credit contract whereby the borrower gives the credit provider rights to assets owned by the borrower to secure repayment under a credit contract.
B) A credit contract in which the credit provider is the borrower's employer and the loan is tied to the borrower's continued employment.
C) A credit contract entered into to pay for goods or services provided by a supplier who referred the borrower to the credit provider.
D) A credit contract in which multiple advances of credit are contemplated and the amount of available credit increases as the debt is reduced.
Q3) A credit card is an example of a continuing credit contract.
A)True
B)False
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Chapter 36: Ethics and Regulations in Marketing and Advertising
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Q1) Injurious falsehood involves a misrepresentation by a person in the course of trade that their goods or services are connected with another with the intention to deceive potential customers.
A)True
B)False
Q2) The marketing mix comprises the elements of product, price, promotion and profit.
A)True
B)False
Q3) Which of the following is a reason a business might choose to act ethically?
A) To avoid government regulation.
B) To avoid adverse market reaction.
C) To increase public confidence in the business.
D) All of the above
Q4) Registration of a design provides protection for up to 70 years. A)True
B)False
Q5) The role of the marketer is to make potential customers aware of a product. A)True B)False
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