1. Outline the effect Australian Consumer Law has on Contracts

2. Outline the advantages and disadvanatges of a sole trader compared to partnership.

Need to mention the difference between limited partneship and normal partnership

Case study

A. Sarah receives a catalogue in the mail stating 10% of all items at Pebel Sports. She goes to the store and picked a number of items. She takes them to the counter. The girl at the counter states "we had to finish 10% early as we were losing money, sorry." Can Sarah demand 10% off?

Need to mention the following two cases HL Bolton 1957 and John Henshell 1965

I ) Is there a valid offer?

R) Carlill v Carbolic Smoke Ball

Need to discuss the difference between invitation to treat (Boots case) and offer.

I) How can an offer be terminted?

R) An offer can be terminted anytime before acceptance

I)Was there acceptance?

A)Rules relating to acceptance

B. TBA pty ltd has an outstanding debt to plaything pty ltd, which has been outstanding for a number of months. Sarah and Jane are directors of TBL Pty Ltd and decide to appoint an administrator. ADE pty Ltd is also owed money.

1 What options are available to creditors? (administration deed of company arrangement)

2 Has Sarah and Jane breached Corporations Act? (S 588G and S 588H)

3 What happens if a liquidator is appointed?

Essay question

1. Why is corporate governance important.

2. Outline why the concept of ‘artificial legal person' is a fiction.