Introduction to Business Law Final
Exam
Course Introduction
Introduction to Business Law provides students with a foundational understanding of the legal principles and practices that affect businesses and commercial transactions. This course covers key topics such as contracts, torts, agency, employment law, business organizations, and government regulation. Through real-world case studies and legal analysis, students will learn how laws protect consumers and businesses, the risks of litigation, and the ethical considerations involved in business decisions. The aim is to equip students with the legal literacy necessary to navigate the complex legal environment in which businesses operate.
Recommended Textbook Business Law 9th Edition by Andy Gibson
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Page 2
Chapter 1: Legal Foundations
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Q1) Which of the following is NOT an aspect of public law?
A) Negotiable instruments law.
B) Criminal law.
C) Taxation law.
D) Administrative law.
Answer: A
Q2) A significant feature of the civil law (code) system is:
A) Law made by Judges.
B) Law based on the Roman law that developed from the code of Justinian.
C) Adversarial based legal process.
D) Law made by civil institutions.
Answer: B
Q3) Which of the following terms is NOT used to describe the common law?
A) Precedent.
B) Case law.
C) Statute law.
D) Unwritten.
Answer: C
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Chapter 2: Origins of Australian Law
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Q1) Which significant Australian law abolished appeals from the State Supreme Courts to the Privy Council in London?
A) The Privy Council (Limitation of Appeals) Act 1968 (Cth).
B) The Privy Council (Appeals) Act 1980 (Cth).
C) The Australia Act 1986 (Cth).
D) The Privy Council (Appeals from the High Court) Act 1975 (Cth).
Answer: C
Q2) Section 109 of the Commonwealth Constitution provides that where there is an inconsistency between a Commonwealth law and a State law:
A) The law which was made first shall prevail.
B) The Commonwealth law shall prevail.
C) The State law shall prevail.
D) The law which was made most recently shall prevail.
Answer: B
Q3) The effect of the decision in the Mabo Case was to lay to rest the idea that Australia was <i>terra nullius.</i>
A)True
B)False
Answer: True
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Page 4
Chapter 3: Legal Systems
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Q1) Which of the following is NOT one of the advantages of ADR (Alternative Dispute Resolution) over formal litigation?
A) ADR is less intimidating than formal litigation.
B) ADR is less expensive than formal litigation.
C) ADR is more likely to be heard quickly than formal litigation.
D) ADR is more authoritative than formal litigation.
Answer: D
Q2) Why might an accused person prefer to have an indictable matter dealt with summarily in an inferior court instead of in a higher court?
A) Inferior courts settle disputes less formally.
B) Inferior courts settle disputes more cheaply.
C) Inferior courts settle disputes more quickly.
D) All of the above.
Answer: D
Q3) A licensing court is an example of alternative dispute resolution.
A)True
B)False
Answer: True
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5
Chapter 4: How Law Is Made: Precedentstatute Law
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Q1) Which of the following best describes the literal rule of statutory interpretation?
A) The meaning and intention of language used in the Act is clear and it is the court's duty to apply it.
B) The meaning and intention of language used in the Act is unclear so it is necessary to look at the law before the statute was passed.
C) The meaning and intention of language used in the Act is unclear so it is necessary to read the act in its entirety and ask 'What mischief is this statute intended to remedy?'.
D) The meaning and intention of language used in the Act is clear and it is the court's duty to apply it unless that would result in absurdity, injustice or repugnance.
Q2) Which of the following statements most accurately defines 'ratio decidendi'?
A) The final order of the court is binding on the immediate parties to the action.
B) Anything said about the law in the course of a judgment that does not form part of the matters in issue.
C) The legal reasoning upon which the decision in a case was based.
D) The doctrine of precedent; 'to stand by a decision.'
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6
Chapter 5: Civil Liability: The Law of Torts and Negligence
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Q1) 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.
Q2) Changes to the law of negligence made in 2002 in all jurisdictions were designed to restrict the right of a plaintiff to recover damages.
A)True
B)False
Q3) Which of the following is a feature that distinguishes tort law from contract law?
A) Tort law is concerned with having the promises of others performed.
B) Tort law is private law, contract law is public law.
C) In tort law, the duties which arise are mainly imposed by law.
D) In tort law, the duties are mainly imposed by the agreement between the parties.
Q4) The common law rules relating to contributory negligence no longer apply.
A)True
B)False
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Chapter 6: Applications of Negligence to Business
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Q1) The decision in<i> Australian Safeway Stores Pty Ltd v Zaluzna</i> (1986) 162 CLR 479 means that:
A) Occupiers of property owe a duty of care to anyone who enters their premises.
B) The duty of an occupier varies with the circumstances of a person's entry.
C) An occupier's duty of care is measured by their response to a foreseeable risk.
D) All of the above.
Q2) Pure economic loss means there is no physical damage or injury.
A)True
B)False
Q3) Which of the following statements about product liability is NOT correct?
A) Sellers and repairers are under similar duties to manufacturers and distributors.
B) Where there is a possibility for an intermediate inspection of the goods and the inspection is done negligently, the intermediary may be liable.
C) A distributor of a product which is dangerous per se owes a duty to give adequate warning to take precautions.
D) A manufacturer will only be liable under the Australian Consumer Law if they are shown to have been negligent.
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Page 8
Chapter 7: Introduction to Contracts
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Q1) Which of the following statements is the best description of a 'voidable' contract?
A) The contract remains valid and binding unless and until it is repudiated by the injured party.
B) There are no legal rights or obligations from the outset, and the contract cannot be enforced by either party.
C) While the contract is valid on its face, no legal action can be brought on it.
D) The purpose of the contract contravenes a statute or the common law.
Q2) Under a void contract there are no legal rights or obligations.
A)True
B)False
Q3) What are the elements that are necessary for the creation of a valid simple contract?
Q4) Which of the following contracts is NOT required to be wholly in writing?
A) A cheque.
B) A promissory note.
C) A contract of guarantee.
D) A hire purchase agreement.
Q5) What is a quasi-contract?
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Chapter 8: Agreement Between the Parties
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Q1) In relation to contract law an invitation to treat is best described as:
A) An offer to accept an offer.
B) An offer.
C) An offer to offer an offer.
D) An offer to consider offers.
Q2) A promise to 'keep an offer open' for a specified period:
A) Is not enforceable unless made in writing.
B) Is not enforceable.
C) Is not enforceable unless supported by the offeree's consideration.
D) Is not enforceable unless supported by the offeror's consideration.
Q3) An offer is NOT terminated by:
A) A counter-offer by the offeree.
B) A request for more information by the offeree.
C) A rejection of that offer by the offeree.
D) A qualified acceptance by the offeree.
Q4) Which of the following is NOT a requirement of a valid acceptance to an offer?
A) The acceptance must be absolute and unqualified.
B) The acceptance must be expressed verbally or in writing.
C) The acceptance must be strictly in accordance with the terms of the offer.
D) The acceptance must be made in reliance on the offer.
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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) Which of the following is NOT one of the possibilities identified by the High Court in Masters v Cameron (1954) 91 CLR 353?
A) That the parties had reached final agreement.
B) That the parties had reached agreement but just wanted the deposit to be paid.
C) That the parties had reached agreement but wanted it to be recorded.
D) That the parties had postponed agreement until a formal contract was signed.
Q3) 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?
Q4) Explain the two legal presumptions that assist courts to determine the intention of parties that enter into agreements with each other. What does it mean when these presumptions are called 'rebuttable'?
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Chapter 10: Consideration
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Q1) 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.
Q2) 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.
Q3) In which case was the issue of past consideration considered in the context of an employment contract?
A) Roscorla v Thomas [1842] 3 QB 234.
B) Dunlop Pneumatic Tyre Co Ltd v Selfridge & Co Ltd [1915] AC 847.
C) Lampleigh v Braithwait (1615) Hob 105; 80 ER 255.
D) Anderson v Glass [1869] 5 WW&A'B(L) 152.
Q4) Explain what is meant by the expression 'valuable consideration.'
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Page 12
Chapter 11: Capacity of the Parties
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Q1) 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?
Q2) The onus of proof is on the plaintiff to establish that the goods or services provided to the infant are capable of being necessaries.
A)True
B)False
Q3) Out of the following groups, who are NOT presumed to have limited contractual capacity?
A) Mentally ill people.
B) Very young people.
C) Intoxicated people.
D) Very old people.
Q4) A person who becomes bankrupt is prohibited from entering contracts.
A)True
B)False
Q5) A valid transaction allows the minor to repudiate the contract.
A)True
B)False
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Chapter 12: Genuine Consent
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Q1) Explain the difference between duress and undue influence.
Q2) Explain the difference between innocent and fraudulent misrepresentation.
Q3) A misrepresentation is a false statement of fact or opinion.
A)True
B)False
Q4) In the case of a contract for the sale of goods which is rendered void for mistake, a third party who has subsequently acquired those goods will not be entitled to retain them.
A)True
B)False
Q5) 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.
Q6) In order to succeed in an action in negligent misrepresentation, what must the plaintiff establish in a court?
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Chapter 13: Is the Contract Legal
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Q1) The most significant difference between a 'void' contract and an 'illegal' contract is that:
A) Money paid or property transferred under a void contract may be irrecoverable.
B) Money paid or property transferred under an illegal contract may be irrecoverable.
C) Illegal contracts carry penalties for violation.
D) A void contract will not be enforced by the courts.
Q2) A clause in a contract referring disputes to arbitration instead of the courts is valid. A)True
B)False
Q3) To determine if a contract is illegal by statute, courts look for the intention of the statute.
A)True B)False
Q4) A contract may be lawful but failure to perform the contract in the prescribed manner may render the contract illegal.
A)True
B)False
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Chapter 14: Terms of the Contract
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Q1) Which of the following is NOT necessary for a pre-contractual statement to be enforceable as a collateral contract?
A) The pre-contractual statement is consistent with the main contract.
B) The plaintiff only entered into the main contract because of the pre-contractual statement.
C) The pre-contractual statement is not a term of the main contract.
D) The pre-contractual statement is in writing.
Q2) Which of the following is NOT an example of a condition precedent?
A) A contract for the sale of a block of land which is subject to the purchaser obtaining development consent from the local council.
B) A contract for the sale of a house which is subject to a right to terminate if the vendors are unable to purchase another property by the settlement date.
C) A contract for the sale of a house which is subject to the vendors completing the purchase of another property.
D) A contract for the sale of land which is subject to the vendor obtaining development consent from the local council.
Q3) Explain and distinguish between a condition and a warranty.
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Chapter 15: Rights and Liabilities of the Parties, Discharge and Remedies
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Q1) Explain the meaning of novation and what does it create.
Q2) If there has been substantial performance of the contract, the doctrine of substantial performance may permit the defaulting party to still obtain the contract price.
A)True
B)False
Q3) Why did the court find that the contract was frustrated in the case of: Taylor v Caldwell (1863) 122 ER 309?
A) Due to the declaration of war and the consequent impossibility of performing the contract.
B) Due to the non-occurrence of an event essential to achieve the substantial purpose of the contract.
C) Due to the fundamental and radical change in the circumstances of the contract.
D) Due to the complete destruction of the subject matter of the contract.
Q4) A contract that has been breached is void ab initio.
A)True B)False
Q5) What factors must be present in order for a contract to be discharged by frustration?
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Chapter 16: Remedies in Contract
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Q1) In which of the following circumstances would the court be most likely to grant an order for specific performance?
A) Where the defendant has breached the contract by failing to proceed with the sale of a house.
B) Where the defendant has breached the contract by failing to perform his ongoing duties under an employment agreement with the plaintiff.
C) Where the defendant has breached the contract by failing to hire the plaintiff as an employee.
D) Where the defendant has breached the contract by failing to proceed with the sale of a new standard model car.
Q2) What is a penalty?
Q3) 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
Q4) What is meant by the term 'damages'?
Q5) What is the purpose of rescission?
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18
Chapter 17: Statutory Consumer Guarantees and the Australian Consumer Law
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Q1) Why was the plaintiff successful in obtaining a full refund in the case of Rowland v Divall [1923] 2 KB 500?
A) Because he had only had the car for four months.
B) Because the seller had no right to sell him the car.
C) Because the owner had no right to sell him the car.
D) Because the true owner had made a claim against him.
Q2) 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.
Q3) Where goods are sold by description, description goes to both identity and quality of goods.
A)True
B)False
Q4) What are the implied guarantees that must be included in every agreement by a manufacturer to supply goods to a consumer?
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) Which of the following is NOT a power available to a regulator to enforce the Australian Consumer Law?
A) Adverse publicity order.
B) Injunction.
C) Compensation order.
D) Non-punitive order.
Q2) The statutory prohibition of unconscionable conduct in s 21 of the Australian Consumer Law replaces the common law.
A)True
B)False
Q3) In which case did the court set out the guidelines for determining if conduct is misleading or deceptive within the meaning of s 18 of the Australian Consumer Law?
A) McDonald's System of Australia Pty Ltd v McWilliams Wines Pty Ltd (1980) 33 ALR 394.
B) Parkdale Custom Built Furniture Pty Ltd v Puxu Pty Ltd (1982) 149 CLR 191.
C) Taco Company of Australia Inc v Taco Bell Pty Ltd (1982) ATPR 40-303.
D) Pacific Dunlop v Hogan (1989) 23 FCR 553.
Q4) What is the main purpose of the Australian Consumer Law?
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Chapter 19: Agency
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Q1) A contract must exist between the agent and the third party as well as the agent and the principal for agency law to apply.
A)True
B)False
Q2) In which of the following cases did the court decide that the agent had breached their duty to act in person?
A) Lunghi v Sinclair [1966] WAR 172.
B) Hewson v Sydney Stock Exchange (1967) 87 WN (NSW) 422.
C) Panorama Developments (Guildford) Ltd v Fidelis Furnishings Fabrics [1971] 3 WLR 440.
D) John McCann & Co. v Pow [1973] 1 All ER 129.
Q3) The decision in Australia and New Zealand Bank Ltd v Ateliers de Constructions [1967] 1 AC 86 was that the bank had authority to negotiate the cheques payable to Ateliers into the agent's account. This is an example of:
A) Ostensible authority.
B) Express actual authority.
C) Implied actual authority.
D) Apparent authority.
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) In what circumstances will a director be personally liable for the debts of the company?
Q2) The advantage of putting a company into administration is that it:
A) Results in a better return for creditors.
B) Results in a better return for members on a winding up.
C) Provides a defence against an action for breach of s 588G.
D) All of the above.
Q3) Which of the following statements about a debenture holder is NOT true?
A) A debenture holder has the same rights as a shareholder of the company.
B) A debenture holder is a secured creditor of the company.
C) A debenture holder can sue the company for unpaid interest.
D) A debenture holder can take action to have the company wound up.
Q4) A large proprietary company is a proprietary company which has:
A) Gross assets of more than $12.5 million at the end of the financial year.
B) 50 or more full-time employees at the end of the financial year.
C) A gross operating revenue of more than $25 million for the financial year.
D) Any two of the above.
Q5) An important result of incorporation is limited liability. A)True B)False
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Chapter 21: Partnerships
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Q1) Is it necessary for a partnership to advise customers when a partner retires?
Q2) Partnerships are regulated by:
A) The common law.
B) Equity.
C) The Partnership Act of the relevant state or territory.
D) All of the above.
Q3) Which of the following statements is true?
A) A partnership will exist if the persons involved declare that they are in partnership.
B) Sharing of profits and losses is an essential element of a partnership.
C) All partners are equal.
D) A partnership agreement must be in writing.
Q4) The sharing of profits and losses is complete proof of partnership.
A)True
B)False
Q5) 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
Q6) What are the three factors that determine whether a partnership exists?
Page 23
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Chapter 22: Choosing a Business Entity
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Q1) Trading under an unregistered business name is an offence under the Business Names Registration Act 2011 (Cth).
A)True
B)False
Q2) Which of the following statements about a sole trader is true?
A) A sole trader with employees must change to a different business structure.
B) Every sole trader must register their business name.
C) There are no special requirements to start operating a business if the sole trader uses their own name.
D) The sole trader must generally consult with customers, creditors and employees in deciding what the business will and will not do.
Q3) Which of the following statements about a partnership is NOT true?
A) Partners must keep their capital separate for tax purposes.
B) It can be difficult to sell a share in a partnership.
C) Partners are unable to contract with the firm.
D) Partnerships can be cheap and quick to establish.
Q4) A franchisor is liable for the debts of a franchisee.
A)True
B)False
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Chapter 23: Other Business-Related Torts
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Q1) The case of Barton v Armstrong [1969] 2 NSWLR 451, is authority for the principle that:
A) Assault requires a positive intentional act.
B) Threats over the telephone cannot amount to assault as there can be no fear of immediate violence.
C) Threats over the telephone can amount to assault if the fear caused is reasonable.
D) Threats of future violence cannot create a reasonable fear of immediate violence.
Q2) In which of the following States have assault and battery been merged into the single crime of 'Assault'?
A) Western Australia.
B) South Australia.
C) New South Wales.
D) Victoria.
Q3) Assault, Battery and false imprisonment are all examples of unintentional torts.
A)True
B)False
Q4) Explain the meaning of private nuisance and what the plaintiff must prove to succeed.
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Chapter 24: Insurance
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Q1) Claudia insures the contents of her house for $200,000 when they are in fact worth $300,000. If the contract contains a 'subject to average' clause and goods worth $60,000 are stolen, how much is the insurer obliged to pay?
A) $40,000.
B) $200,000.
C) $60,000.
D) $20,000.
Q2) Payment of an insurance premium to an insurance broker or agent discharges the liability of the insured to the insurer.
A)True
B)False
Q3) Which of the following is NOT an example of general insurance?
A) Credit insurance.
B) Motor vehicle insurance.
C) Life insurance.
D) Professional indemnity.
Q4) The consideration in a contract of insurance is called the premium.
A)True
B)False
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Chapter 25: Sale of Goods
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Q1) Which of the following statements does NOT have the same meaning as the other three?
A) Sam has title to the goods.
B) Sam has possession of the goods.
C) Sam has ownership of the goods.
D) Sam has property in the goods.
Q2) The transfer of ownership of goods is central to the operation of the Sale of Goods Act.
A)True
B)False
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) An unpaid seller has rights against the goods and against the buyer.
A)True B)False
Q5) Define the term 'goods.'
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Chapter 26: Electronic commerce
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Q1) 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.
Q2) The case of: La Forrest v Ford and Ors [2001] QCA 455 is authority for the principle that:
A) Acceptance of an offer by email is capable of creating a legal relationship.
B) An electronic communication is received at the addressee's place of business.
C) The usual principles of contract law apply to eBay.
D) All of the above.
Q3) A person is not bound by an electronic communication unless the communication was sent by, or with their authority.
A)True
B)False
Q4) Outline some of the difficulties in applying the law to the World Wide Web (Internet).
Q5) What is an electronic communication?
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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) What are fixtures and why is it important to determine if they are moveable or not?
Q3) A fixture is classified as:
A) Real property.
B) A chose in possession.
C) A chattel real.
D) A chose in action.
Q4) In the context of property law, which of the following is the best definition of the term: 'property'?
A) The rights or ownership of an object.
B) Possession or physical control of an object.
C) Land and anything fixed to it.
D) Real property.
Q5) Describe the three main types of property.
Q6) 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) Where does copyright exist?
Q2) Anita designs magazine covers for her employer: 'Live Magazine'. The magazine is printed by Fairview press. Who owns the copyright in the magazine cover?
A) Fairview Press.
B) Live Magazine.
C) Anita.
D) All of the above.
Q3) In the context of copyright law, the term: 'original' means that:
A) The work is the result of the author's own efforts.
B) The work is the expression of a unique idea.
C) The work has literary or artistic merit.
D) The work has not been reproduced.
Q4) Contrast an infringement of a registered trademark with an action in passing off.
Q5) Which of the following situations will constitute an infringement of copyright?
A) The recording of a television broadcast for educational purposes.
B) Copying by a library for research and study by library users.
C) A public reading of the whole of a published literary work.
D) A photograph of a public sculpture.
Q6) What constitutes fair dealing?
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Chapter 29: Ethics and business practice
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Q1) Deontological ethics means that the end justifies the means.
A)True
B)False
Q2) Ethical considerations involve going beyond self-interest in reaching a decision.
A)True
B)False
Q3) Which of the following is NOT one of the propositions that make up the 'rule of law'?
A) The rights and freedoms of citizens are enforceable in the courts.
B) No person should be subject to a law without their knowledge and consent.
C) No person should be punished except for a breach of the law.
D) All persons are equal before the law.
Q4) Which of the following is an example of legislation designed to ensure ethical behavior by business?
A) Residential and Retail Tenancies Legislation.
B) The Australian Consumer Law.
C) The Consumer Credit Code.
D) All of the above.
Q5) Describe the ethical considerations and duties of businesses in today's society?
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Chapter 30: Criminal law in a business context
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Q1) The standard of proof in a criminal trial is:
A) Higher in cases of gross negligence.
B) That the case must be proved on the balance of probabilities.
C) That the case must be proved beyond reasonable doubt.
D) That the accused is presumed innocent until proven guilty.
Q2) 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.
Q3) In the context of the Australian Consumer Law, which of the following unfair practices will NOT attract a criminal penalty?
A) Bait advertising.
B) Misleading conduct regarding goods or services.
C) False representations as to goods and services.
D) Misleading and deceptive conduct.
Q4) Criminal liability requires proof of either a guilty mind (mens rea) or a guilty act (actus reus).
A)True
B)False
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Chapter 31: Restrictive trade practices
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Q1) 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.
Q2) Which of the following is NOT an order that can be made under s 87 of the Competition and Consumer Act 2010 (Cth)?
A) An order varying a contract.
B) An order declaring part of a contract void.
C) An order directing the supply of services.
D) An order divesting a party of shares.
Q3) Only the Australian Competition Tribunal can make authorisations.
A)True
B)False
Q4) Increasing the price of petrol during school holidays is often described as predatory pricing.
A)True
B)False
Q5) Describe how the concepts of market and competition are linked and important in respect to trade in Australia.
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Chapter 32: Negotiable instruments
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Q1) What is a cheque?
Q2) A bill of exchange or cheque payable to bearer is negotiated by which of the following methods?
A) Indorsement or delivery.
B) Indorsement and delivery.
C) Indorsement.
D) Delivery.
Q3) A bank cheque differs from an ordinary cheque because:
A) A bank cheque is the equivalent of cash.
B) A bank cheque can only be paid to order.
C) A drawer of a bank cheque is a bank.
D) A bank cheque cannot be dishonoured.
Q4) An instrument that does not comply with the statutory requirements for a bill of exchange may still be enforceable as a contract.
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) The court will reject the creditor's petition unless they can prove that in the preceding six months the debtor committed an act of sequestration.
A)True
B)False
Q2) Which of the following is NOT a consequence of a sequestration order?
A) The bankrupt must disclose the fact of their bankruptcy before obtaining credit above a specified amount.
B) The bankrupt can no longer be a director of a company.
C) Secured creditors are no longer able to deal with the security.
D) All of the property of the bankrupt immediately vests in the trustee for the benefit of creditors.
Q3) Which of the following is NOT an option for a company in financial difficulty?
A) Liquidation.
B) Bankruptcy.
C) The appointment of a receiver.
D) The appointment of a liquidator.
Q4) What are the three main aims of the Bankruptcy Act 1966 (Cth)?
Q5) In what way is a Part IX arrangement a preferable course of action for a person facing bankruptcy?
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Chapter 34: The Work Environment and the Employment Relationship
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Q1) What are the differences between employees and independent contractors, and how can the latter's lack of comprehensive legal protection be justified?
Q2) The Workplace Health and Safety Act 2011 imposes a duty on customers and visitors to a workplace to take reasonable care for their own safety and that of others.
A)True
B)False
Q3) The terms 'unlawful termination' and 'unfair dismissal' have the same meaning. A)True B)False
Q4) When a business is sold, all existing contracts of employment carry forward to the new employer.
A)True
B)False
Q5) The use of 'outsourcing' and independent contractors is a manifestation of the practice of business 'downsizing' in order to reduce their workforce. A)True
B)False
Q6) What are the aims of Occupational Health and Safety Legislation?
Page 36
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Chapter 35: Consumer Credit and Privacy
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Q1) Which of the following is the best definition of a 'continuing credit contract'?
A) A credit contract entered into to pay for goods or services provided by a supplier who referred the borrower to the credit provider.
B) A credit contract in which multiple advances of credit are contemplated and the amount of available credit increases as the debt is reduced.
C) A credit contract whereby the borrower gives the credit provider rights to assets owned by the borrower to secure repayment under a credit contract.
D) A credit contract in which the credit provider is the borrower's employer and the loan is tied to the borrower's continued employment.
Q2) The Credit Reporting Code permits a credit provider to collect both positive and negative information about a borrower's consumer credit history.
A)True
B)False
Q3) A borrower can terminate a credit contract at any time before the credit is provided.
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 marketing mix comprises the elements of product, price, promotion and profit. A)True B)False
Q3) Which of the following statements about the Spam Act 2003 (Cth) is NOT correct?
A) The Act does not apply to voice messages on mobile phones.
B) The Act does not apply to registered charities, political parties or educational institutions.
C) The Act defines an electronic message as an email.
D) The Act prohibits sending commercial electronic messages without the recipient's consent.
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