MLC101 - Hiro and the Federal Bank of Australia - Akshita and Underground Solutions Pty Ltd Case Study - Business Law Assignment Help
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Assignment Task :
Scenarios 1 and 2 (MLC101)
Your task is to provide analysis and evaluation of the legal issues posed in the case study, drawing on the legal principles covered in Topics 3-4. Scenarios one and two are based on your course materials from Topics 3 to 4 (this does not necessarily mean that there is one question from each topic), however, further research (beyond the textbook) will most definitely enhance the quality of your submission. If you wish to score a very high grade for this assessment, it is strongly advised that you incorporate research beyond the course materials.
Scenario 3 requires you to analyse the effect of international legal instruments on commercial practises in Australia on the case study, derived from your own independent research. This scenario is completely research-based and requires you to
LO1: Apply key principles of law for commerce to recognise and evaluate legal issues.
LO2: Interpret and analyse a range of legal issues and the bearing they have in commerce
LO3: Use appropriate digital technologies to search, retrieve and apply relevant information to law for commerce.
LO4: Identify critical legal issues in the international context that have a bearing on business ethics, standards and practice in Australia
Scenario 1 Case Study – Hiro and the Federal Bank of Australia
Hiro is an employee of the Federal Bank of Australia (FBA) and works in the consumer lending division. FBA is currently running a competition with its consumer lenders with first prize being a $25,000.00 bonus at the end of the year. Hiro is very keen for the bonus and decides to speak to his grandmother and an ex-girlfriend of his about arranging loans to boost his sales figures.
Hiro hadn’t visited his grandmother recently and his parents hadn’t informed him about his grandmother developing Alzheimer’s disease. He calls his grandmother and has a short conversation with her about the terms and conditions of the loan, saying to her “I think I’d probably come and visit more if you put in a pool in your backyard. This loan will allow you to build one.” His grandmother mumbles back a reply about it being very lovely to hear from him and says that the weather has been very lovely recently. Hiro presses his grandmother for an answer on the loan and she replies, “Whatever you think is best.” Hiro skips the background check and proceeds with the loan, getting the documents signed the next day. Hiro wonders if he’s done the wrong thing but assures himself there is no problem as his grandmother, despite never going to school, was always very wise in his view.
Scenario 3 Case Study – Carmen
Carmen runs a business that buys wood from Spain, makes toys in Russia, then sells these to Australian companies for resale. Carmen runs her business from Russia.
One day, the company she purchases the wood from in Spain fails to make a delivery Carmen had paid for in advance. The very next day, despite making a shipment of toys to her largest Australian client, the company refuses to pay for the toys. Neither company provides a reason for their actions to Carmen.
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