Law

Assignment Requirements

LAW FOR BUSINESS Summer Term 1 2014 ASSIGNMENT TWO
When writing this assessment reference is to be made to laws discussed in the module, both LEGISLATION and CASE LAW. Discuss all answers fully and where there are several answers possible, all must be explored.
This is a GROUP assessment, with THREE members in a group. This assessment is equivalent to TWENTY PERCENT (20%) of total module marks.
The total word count for this assessment should be between 1200 -1500 WORDS, with in-text citation and references using decisions of the courts, statutes, textbooks, and other publications. A reference list must be included at the end of the paper. The word- count should be reflected on the cover page of the assignment and does not include the reference list.
Referencing should be Harvard style where appropriate. Where case law and legislation are used, legal referencing Oxford Standard should be observed. Papers without citations and references will NOT be accepted.
Proper page margins, 1.5 Spaces, Arial or Times New Roman, 12 Font, Justified, and pagination, should be used. Failure to observe these requirements could mean a reduction of marks.
Grammar and expression are taken into account when assessing answers.
The electronic copy MUST be submitted to Turnitin through the Blackboard, and a printed copy submitted to your tutor. The electronic copy must be submitted by Wednesday, 11:59 PM, 04 June 2014. The printed copy submitted to your tutor at the next class.
CASE
Adam has been running a successful car sales business as a sole trader for 20 years. He owns and manages the business while his wife Elvie helps him with record-keeping and dealing with customers. His son Scotty is a trained auto mechanic and also helps in the business. His daughter Nina is in her final year at the university studying Business Management. Adam has promised Nina that she would eventually take over the management of the business.
The business has been flourishing for 20 years and Adam has been able to acquire a beautiful home in a rich area of Lincoln and has bought expensive cars for each member of his family. Adam also has personal bank accounts in several major banks.
His wife Elvie has been successful in keeping business finances separate from the family finances. She makes sure that the business accounts are always updated. Recently, the business has imported cars on credit from its suppliers in Japan and the United States. Adam is confident that those cars will sell soon.
Adam has ambitious plans to expand his business but his funds are limited. He is contemplating changing the form of his business to secure more capital investment. He has to make sure that the form of business he chooses will still allow him control of the business. He also wants a form of business that is sustainable as he wants his children to continue the business after he retires.
Benhur is one of the major creditors of the business. He has heard that Adam might change the way he operates his business. He needs to know how his rights as a creditor would be affected by any decision to change the form of business. He also wants to protect his rights as such creditor.
Cyrus has recently been appointed by Adam as the legal officer of the business and needs to know the requirements of law for starting the type of business that Adam may choose.
TASK
Discuss the laws and regulations that would be relevant to the needs of Adam, Benhur, and Cyrus. Each member of the group must choose a different person and analyse the case from the point of view of that person.
All discussions must be in full, with the use of specific provisions of relevant legislation, and decisions of the courts.

(include cases .. text references)

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