Ace - AI Tutor
Ask Our Educators
Textbooks
My Library
Flashcards
Scribe - AI Notes
Notes & Exams
Download App
angel phoon

angel p.

Divider

Questions asked

INSTANT ANSWER

Saanvi rents a shop in her local suburb for a five year term, paying a monthly rental of $2000 plus rates and other expenses. She establish a business selling carpets and rugs which are imported from overseas, and she is able to make reasonably good profit from the business. After trading for about 6 months, Saanvi discovers that recent fluctuations in currency value in Australia and overseas have resulted in an increase in th elanded cost of her stock by about 50%, and, as a result, she can no longer sell her stock at a profit. Saanvi approaches Huang, her landlord, and notifies him that she will have to terminate the lease and vacate the shop because of her inability to make a profit in her business. Huang wants Saanvi to stay in the shop, and offer to reduce the monthly rental to $1000 until things improve. Because of Huang's promise to reduce the monthly rent, Saanvi decide to stay and pays the reduced rent. However, after a further 6 months, Saanvi is still not making a profit and leaves the shop. A week later, Saanvi receives notifications of legal proceedings issued by Huang, claiming the sum of $6000 form Saanvi. Huang claims in the legal proceedings that the sum of $6000 is 'arrears of rental on the shop'. Advise Saanvi whether she has to pay the sum of $6000 now being claimed by Huang. Does it related to all elements of promissory estoppel below？ Elements of promissory estoppel:  A clear and unambiguous promise made by the promisor.  Reliance by the promisee on the promise.  The reliance must be both reasonable and foreseeable.  The party asserting the estoppel must be injured by his reliance

View Answer
 divider
INSTANT ANSWER

Saanvi rents a shop in her local suburb for a five year term, paying a monthly rental of $2000 plus rates and other expenses. She establish a business selling carpets and rugs which are imported from overseas, and she is able to make reasonably good profit from the business. After trading for about 6 months, Saanvi discovers that recent fluctuations in currency value in Australia and overseas have resulted in an increase in th elanded cost of her stock by about 50%, and, as a result, she can no longer sell her stock at a profit. Saanvi approaches Huang, her landlord, and notifies him that she will have to terminate the lease and vacate the shop because of her inability to make a profit in her business. Huang wants Saanvi to stay in the shop, and offer to reduce the monthly rental to $1000 until things improve. Because of Huang's promise to reduce the monthly rent, Saanvi decide to stay and pays the reduced rent. However, after a further 6 months, Saanvi is still not making a profit and leaves the shop. A week later, Saanvi receives notifications of legal proceedings issued by Huang, claiming the sum of $6000 form Saanvi. Huang claims in th elegal proceedings that the sum of $6000 is 'arrears of rental on the shop'. Advise Saanvi whether she has to pay the sum of $6000 now being claimed by Huang. Applying IRAC method.

View Answer
 divider
INSTANT ANSWER

Margot has a number of second-hand textbooks for sale and offers them to Neville for $200. Neville says this is too much but he will pay $100 for them. Margot refuses. Neville telephones Margot the next day and says he will pay $200. Margot then tells him that she has sold the books to someone else for $180. Discuss whether there is a contract in existence between the parties. Related to Hyde v Wrench - 1840

View Answer
 divider
ANSWERED

James Kiss verified

Numerade educator

Margot has a number of second-hand textbooks for sale and offers them to Neville for $200. Neville says this is too much but he will pay $100 for them. Margot refuses. Neville telephones Margot the next day and says he will pay $200. Margot then tells him that she has sold the books to someone slse for $180. Discuss whether there is a contract in existence between the parties.

View Answer
 divider
INSTANT ANSWER

Lulu rents an apartment for 100 per week, which she accepts. The landlord says not to worry about changing the lease, as he is 'a man of his word'. After one year of paying the reduced rent, Lulu decides to relocate to another country and gives notice of leaving. The landlord demands outstanding rent over the previous year, which is the difference between the 300 a week apartment according to the terms of the lease. Using IRAC, explain Lulu's legal position, advising whether she needs to pay the difference in rent. Does it related to all elements of promissory estoppel below？ Elements of promissory estoppel:  A clear and unambiguous promise made by the promisor.  Reliance by the promisee on the promise.  The reliance must be both reasonable and foreseeable.  The party asserting the estoppel must be injured by his reliance.

View Answer
 divider
INSTANT ANSWER

Sarah is very keen on sailing and wants to purchase a yacht. Looking through the for-sale advertisements on treegum, Sarah notices that Andy has a yacht for sale. Sarah contacts Andy and arranges to inspect the yacht. On Thursday afternoon Sarah and Andy meet at the local marina. Andy shows Sarah the yacht and explains that he is looking to sell the yacht for $12,000. Sarah is extremely happy with the yacht and has just one question. Sarah says that she will purchase the yacht from Andy only if it is less than 10 years old. Andy responds that he can guarantee that the yacht is only 5 years old. On that basis Sarah agrees to purchase the yacht. Sarah and Andy agree that a written contract will be drawn up and that on signing the contract Sarah will pay a deposit of $2,000 with the balance payable on the 10th of August 2022. Andy has a contract of sale drawn up which Sarah signs and pays the deposit. Unfortunately for Sarah she discovers that the yacht is closer to 15 years old than the 5 that Andy claimed. Sarah approaches Andy with this information and demands her money back. Andy has a copy of the contract and explains to Sarah that none of the terms of the contract mention the age of the yacht. Andy explains to Sarah that they are only bound by the terms of the written contract. Sarah has approached you seeking advice on the status of the contract. This advice needs to consider the following: a) What does Andy mean when he states that they are bound by the terms of the written contract? b) How can Sarah have the verbal assurance that the yacht is only five years old included as a term of the contract?

View Answer
 divider
INSTANT ANSWER

Sarah is very keen on sailing and wants to purchase a yacht. Looking through the for-sale advertisements on treegum, Sarah notices that Andy has a yacht for sale. Sarah contacts Andy and arranges to inspect the yacht. On Thursday afternoon Sarah and Andy meet at the local marina. Andy shows Sarah the yacht and explains that he is looking to sell the yacht for $12,000. Sarah is extremely happy with the yacht and has just one question. Sarah says that she will purchase the yacht from Andy only if it is less than 10 years old. Andy responds that he can guarantee that the yacht is only 5 years old. On that basis Sarah agrees to purchase the yacht. Sarah and Andy agree that a written contract will be drawn up and that on signing the contract Sarah will pay a deposit of $2,000 with the balance payable on the 10th of August 2022. Andy has a contract of sale drawn up which Sarah signs and pays the deposit. Unfortunately for Sarah she discovers that the yacht is closer to 15 years old than the 5 that Andy claimed. Sarah approaches Andy with this information and demands her money back. Andy has a copy of the contract and explains to Sarah that none of the terms of the contract mention the age of the yacht. Andy explains to Sarah that they are only bound by the terms of the written contract. Sarah has approached you seeking advice on the status of the contract. This advice needs to consider the following: a) What does Andy mean when he states that they are bound by the terms of the written contract? b) How can Sarah have the verbal assurance that the yacht is only five years old included as a term of the contract?

View Answer
 divider
INSTANT ANSWER

Mark is a client who operates a sporting goods shop, “Life’s A Ball’. Mark has recently visited his regular supplier and purchased what he believed to be 20 full size netball rings to sell to customers in his shop. He attended at his supplier’s warehouse and chose the netball rings relying on the description on the boxes in which they were contained and also on the recommendation of the supplier who stated that they were suitable for all adult netball competitions. On unpacking one to put on display Mark discovers that it is a ‘junior’ size only, a full metre smaller than full size. The supplier also showed Mark a sample of a new cricket top which was made from a fabric the same colour and weave as the uniforms of the Australian cricket team. Mark believes the tops will sell well and orders 50 in various sizes. When they are delivered to Mark’s shop a week later, they are a slightly different colour and a very different weave from the sample. Mark seeks your advice as to what action he may take. Give reasons for your recommendations. Your answer should include reference to Australian Consumer Law and relevant case law

View Answer
 divider
INSTANT ANSWER

Samantha and two friends have decided to purchase a local craft business. The purchase of the craft business and associated stock will cost in the vicinity of $180,000 and Samantha and her friends will contribute different amounts of money. Samantha has approached your firm seeking advice on what business structure would be best suited for this venture. Your advice should: 1. State the business structure you chose. (2 marks) 2. Why you chose that structure, using other business structures as a comparison. (2 marks) 3. Include reference to relevant legislation and where appropriate case law. (2 marks)

View Answer
 divider