| School of Applied Practice Bachelor of Business |
ACTY 6320 Law of Business Entities
Final Examination
Semester One, 2020
| Date: | [] June 2020 | |||
| Start time: | [] | |||
| Time Allowed: | 3.00 hours, plus 10 minutes reading time | |||
| Total marks: | 100 marks | |||
| Weighting: | 50% of course | |||
| Instructions: | Answer Part A Question 1 (compulsory) and three other questions from Part B Answer the questions directly in the answer booklet provided. Please write clearly and in pen (blue or black). This is an open book examination. | |||
| Learning Outcomes | This assessment provides evidence you have met the following Learning Outcomes One Examine the theory of business structures and demonstrate or explain how one or more of these structures is created. Summarise other types of business structure, their rationale and governing statutory regimes including the customs, heritage and current legal practices of Maori. Two Analyse the role and legal obligations of the owner/manager of a business and solve simple problems relating to the management and administration of businesses. Three Identify the role of investors in business enterprises and apply legal rules to problems that may arise between investors and managers. Four Describe how and why businesses end and apply legal rules to “simple winding up problems”. | |||
| Summary of paper: | Question | Topic & Type of Question | Marks | |
|---|---|---|---|---|
| Part A : Compulsory Question | ||||
| 1 | Maori Business (Land) Structure (Essay) | 25 | ||
| Part B: Answer any three questions in this part – Short Answers/ Application Question (Choose any three questions from Questions B1, B2, B3 and B4) | ||||
| B1 | Directors’ Duties – Application (ILAC) Question | 25 | ||
| B2 | Remedies (Short Summary) | 25 | ||
| B3 | Capital Maintenance & Company Records (Short answers) | 25 | ||
| B4 | Liquidation (Short answers) | 25 | ||
| Total | 100 |
For all questions, you are required to cite any relevant common law principles, case law and sections of the relevant legislation in your answer.
You are required to read the news in the media, law reports, liquidators’ reports on CBI Insurance Limited (27582)(In Liquidation) and CBI Corporation Limited (3888838))(In Liquidation).
Questions B1 and B4 are based on your prior research on CBI Insurance Limited (27582)(In Liquidation) and Question B2 is based on your prior research on CBI Corporation Limited (3888838))(In Liquidation).
Reference to “company” in the questions below means limited liability company incorporated under the Companies Act 1993.
Law of Business Entities ACTY 6320
Final exam instructions Semester One 2020
Exam: []pm Wednesday [] June 2020
Open Book Exam
The exam questions are now finalised and you have been instructed to research and read the news reporting, the documents filed with the Companies Office New Zealand on CBI Insurance Limited (27582)(in Liquidation) and CBI Corporation Limited (3888838))(In Liquidation) relating to its liquidation. In addition to reading the relevant chapters in your textbook (Commercial Application of Company Law in New Zealand (5th Edition)), you should read Lexis Nexis Practical Guidance available in Unitec Library site and the lecture notes and powerpoints available in the Course Moodle.
- Recommended Reading for Exam
Part A – Compulsory – Maori Business (Land) Structures – Essay – not more than 300 words
Maori Business Structures to collectively hold land – Compulsory – Essay – please read relevant materials posted on Maori Land Court website.
Part B1 Directors’ Duties – Application (ILAC) Question– The question on Directors’ Duties – Application Question – are related to CBL Insurance.
Please read:
- Chapters 11 – 15 of your textbook
- https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/27582/documents
- https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12158862&ref=art_readmore
- https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12292056
- https://www.nzx.com/companies/CBL/announcements/284467
- Johnstone v CBL Insurance Europe DAC [2019] NZHC 2101; BC201961460
Part B2 Remedies (Short Summary)
Remedies – Short summary – relates to CBL Construction Ltd (In Liquidation). You should read:
- Chapters 16 of your textbook, and
- https://www.cblclassaction.co.nz/
Part B3 Capital Maintenance & Company Records (Short Answers)
Capital Maintenance & Company Records – Short answers – does not relates to CBL Insurance nor CBL Construction. You should study Chapters 17 and 19 of your textbook.
Part B4 Liquidation (Short Answers)
Liquidation – Short answers – relates to CBL Insurance
You should read:
- Chapter 24 of your textbook. https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/27582/documents Please read the Liquidators’ report.
- https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12292056
Open Book Exam Guide
Type of Examination and Materials Permitted
The exam is Open Book.
Students are permitted to bring written materials, and news reporting and other printed materials on Mainzeal with them in to the exam and use these materials to help them when answering their exam questions.
For example, you may bring:
- Your textbook
- Printouts of the relevant legislation
- A dictionary (either for translation or understanding)
- Class notes
- Study notes students have made
- Diagrams or summary sheets developed by students
Students are not permitted to communicate with each other in the exam or exchange study materials during the exam.
Why is the exam open book?
The exam is designed to test your ability to apply the law to real world fact scenarios not to test your memory.
An open book exam also more closely resembles common workplace experiences. For example, you may be called to a meeting to talk about a piece of work you are doing and answer questions about it. You are able to prepare for the meeting and bring materials that will help you answer the questions, but you still have to ‘perform on the day’ to demonstrate that you understand what you are doing.
Hints with Open Book Exams
- The exam is not the time to read the textbook! You have limited time so you need know the information and have your material in a form you can access fast!
- Make sure that you answer all the questions. -Writing perfect answers to the first three questions and then running out of time is how good students fail exams that they should pass.
- You need to study just as much for an open book exam as you do for a closed book exam; you just study in a different way.
A Suggested Approach to Studying for the Exam
This is only one of many ways you might study for this exam. It is intended as a suggested study method for students who are new to studying for this type of exam or would like to use it. Study in whatever way works the best for you!
Step One: Check details and Collect Materials
- Check the date and time of your exam
- Print off the exam guide
- Locate your class materials that relate to the exam topics
- Print off required legislation and practice questions
- Print off the list of relevant textbook sections
Step Two: Plan your attack!
- Read through the exam guide
- Identify how many questions and what topics will be examined
- Identify how will you study for each topic and how much time to you need/have to study for each question
Step Three: Understand the Content
- Review and summarise your in-class notes, Powerpoints and Exam reading materials.
- Read and summarise relevant textbook and Exam Fact Set points
- Review the legislation and identify relevant sections/simplify
- Review cases and write out names or points of law
Step Four: Prepare a Summary Page for Each Question Topic
- Summarise and condense the content from Step Three in to a logical and easy to remember page of study notes
- Make sure you have content set out in a way that makes it easy to refer to in an exam
- You might like to use checklists, diagrams or flowcharts depending on your preferred learning style
Step Five: Practice Old Exam Questions
- Work through the sample exam questions posted on the Library site
- Use your Summary Pages to help you answer
- Make any changes, additions or alterations you need to your summary pages to make them more helpful in the exam
Step Six: The Final Steps in Preparation
- Check the details for the exam (time, location, if applicable etc)
- Order your materials so you can access what you need quickly and easily – flags, highlighting etc
- Make sure you have pens, highlighters etc in the required bag
- Make sure you have your ID card, drink bottle etc
- Take a break, relax and have a proper breakfast/lunch.
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