LAW-5013B-LAW AND Business 19-20 PDF

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UNIVERSITY OF EAST ANGLIA School of LAW Main Series UG Examination 2019-20 Version 2

LAW AND BUSINESS LAW-5013B

Timings: This examination paper will be available for 24 hours, from 9:30AM British Summer Time. It is recommended you spend a maximum of 2 hours completing this examination. Students who are entitled to Assessment Adjustments: You should apply any extra or rest break time to which you are entitled to up to the maximum 24 hour limit. Answer TWO of the following questions The maximum number of marks available for each question is 50 marks. The TOTAL number of marks available for the paper is 100. Answer ONLY the number of questions you are instructed to. Any additional questions answered will not be marked.

Word count The maximum word count for your answers is 2,500 words. Students are advised to use the overall word limit of 2,500 sensibly and split this roughly equally between the questions. The University policy regarding word counts and penalties will apply to this examination. If your answer exceeds the word count + 10% you may be penalised 10 marks on your overall mark for the paper. A copy of the policy can be viewed here: https://portal.uea.ac.uk/documents/6207125/7465906/Section+3+Submission+of+Work+f or+Assessment+-+Taught+Programmes.pdf

LAW-5013B Copyright of the University of East Anglia

2 Academic Integrity To maintain academic integrity students are required to: Not to keep an electronic copy of this paper or share the content with others. Ensure that all work produced is solely their own. Students are advised that their work will be checked using text matching software to determine any similarity with the work of other students or with other published materials. The University policy regarding plagiarism and collusion will apply to this examination. A copy of the policy can be viewed here: https://portal.uea.ac.uk/documents/6207125/7465906/Section+3+Plagiarism+and+Collusi on.pdf

Submission The submission point for this examination will close at 9:30AM British Summer Time, 24 hours after being made available. It is recommended that you submit your exam script as soon as completed. All answers must be submitted as a Word or Pdf document.

LAW-5013B Copyright of the University of East Anglia

3 1. Joker wants to set up a business selling fancy dress, but he has a limited knowledge of the sector, very low funding and not much time to spend looking after the business affairs. He also finds teamwork challenging, but he thinks his friends, The Penguin and Harvey Dent, could help him with the business. The Penguin is quite rich but also a convicted criminal having recently come out of jail, whilst Harvey Dent has a very good sense of fashion, but he is also a pathological liar. Mr. Freeze, who heard about the idea and thinks the business “will be cool”, has recently approached Joker but Joker is not convinced as Mr. Freeze gives him the chill and he fears that he will be frozen out of the business i.e. his involvement will be restricted. Advise Joker as to the best business form for his business project. Give full reasons for your answer. 2. Richard Grayson is the director of Nightwing Ltd., a long established company that produces batarangs (bat shaped weapons) in Bludhaven. He wants to expand his business and open a subsidiary in Gotham City, and he predicts that the expansion will require a large injection of capital. He has contacted Bruce Wayne, the managing director of BatBank plc. to explore the possibility of a loan for the subsidiary, and knows two investors, Deathstroke and Blackmask, who are very interested in the project. Richard, however, is not sure whether he can trust those two, if he sells them shares.

A. Advise Richard Grayson as to his best funding options with Deathstoke and Blackmask. Give full reasons for your answer. B. Advise Bruce Wayne as to the advantages or disadvantages a lender would have, seeking to take a floating rather than a fixed charge over the debtor’s assets. Give full reasons for your answer.

LAW-5013B Copyright of the University of East Anglia

4 3. Critically analyse the following statement: “At the heart of the UK capitalist system, the free market economy, lies the company. Its web of rules establishes the parameters within which the process of bringing together and organising the factors of production can take place. Two things are vital for the success of the system: an adequate organisational structure as a sound business form and a regulated capital market through which the money is raised to finance the production process.”

4. “It is vital that governments, regulators and the public understand the balance between protecting consumer rights and protecting sustainable services and industries. The Consumer Rights Act 2015 was successful in simplifying, strengthening and modernising consumer protection in the UK, and has undoubtedly managed to achieve that balance.” Critically discuss this statement, giving reasons for your answer.

5. “Today, in the commercial reality, the parties to a contract of sale are in practice often less concerned with ownership than with the more immediate issues of the physical availability of the goods for use or resale, and the payment of the price.” Critically discuss this statement, giving reasons for your answer

6. Critically discuss the following statement: “The absence of orderly and effective insolvency procedures can exacerbate economic and financial crises. The first overall objective of every good insolvency system is the allocation of risk among participants in a market economy in a predictable, equitable and transparent manner, whilst the second objective of a good insolvency law is to protect and maximise value for the benefit of all interested parties and the economy in general, reducing the public cost of the crisis.”

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LAW-5013B Copyright of the University of East Anglia...