University : Deakin University UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : MLC101
Country : Australia
Assignment Task:

Unit Learning Outcome:

ULO1: Apply key principles of law for commerce to recognise and evaluate legal issues. 

ULO2: Interpret and analyse a range of legal issues and the bearing they have in commerce 

ULO3: Use appropriate digital technologies to search, retrieve and apply relevant information to the law for commerce. 

Case Study: The story of Eva 

Scenario 1

Eva, an infant, applied for and was allocated shares in a company; she received no dividends and attended no meetings. She is still to turn 18, and has received a call on the shares. (Note: A “call on the shares” means the demand made by the company on Eva to pay the unpaid balance of the price of the shares she owns within a specified time.) 

On the day she received the call on the shares, she heard on the news that the forecast on the economy for Australia is looking rather bleak. Eva wishes to know whether she is bound to pay the balance of the price of the shares held by her; and whether she can recover the money already paid to the company. 

Advise Eva. 

Note: No research is required for this scenario. You may rely on the course materials to answer this question. 

Scenario 2

Upon turning 21, Eva inherited a large sum of money from her grandmother. She decided to purchase a townhouse from Dockland Pty Ltd (Dockland) as an investment property. Prior to signing the Contract, Dockland advised her that they would be constructing wetlands adjacent to her property, which would give a lovely view and likely increase the value of her property. This promise was backed up with copies of drawings, designs and emails. It was upon that promise that Eva purchased the townhouse and signed the Contract. Clause 38 of the Contract states: 

Entire agreement 

To the extent permitted by law, in relation to the sale of the Land by the Vendor to the Purchaser, this Contract: 

(a) embodies the entire understanding of the parties, and constitutes the entire terms agreed on between the parties; and

(b) supersedes any prior written or other agreement between the parties. 

After purchasing the townhouse, it became apparent that Dockland was no longer going to construct wetlands. Eva knows that you are studying Law for Commerce and remembers you mentioning something about collateral contracts. She decides to sue Dockland for a breach of a collateral contract.

 

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  • Posted on : May 06th, 2019
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