LAW FOR ACCOUNTING

Module 4LA017

2010/2011
COURSEWORK ASSIGNMENT Deadline: Friday 8th April 2011 please submit to Student Services Centre on Kedleston Road
Your attention is drawn to the Universitys policy on plagiarism, collusion and impersonation.
2.1 Plagiarism: (i) An offence occurs when a student submits as her/his own work of which s/he is not the author. (ii) Plagiarism has occurred when the student: - Does not acknowledge the work of another person or persons, or - Has not identified the source or cited quotations in any work presented for assessment, or - Has copied another students work without their knowledge, or - Has submitted the same piece of their own work for assessment and award of credit in two (or more) modules. (iii) If a student's work is found to contain verbatim (or near verbatim) quotation from the work of others without acknowledgement, then plagiarism has been committed. 2.2 Collusion: (i) Where there is a requirement for the submitted work to be solely that of an individual student, collaboration is not permitted. Students who improperly work together in these circumstances and/or who permit the copying of their work by others are guilty of collusion. (ii) Where students are permitted or instructed to work together to achieve common outcomes, such group activity is regarded as approved collaboration. There may be a requirement for each student to identify her/his own contribution 2.3 Impersonation: (i) A student who is substituted by another person in an examination, or who submits by substitution the work of another person as her or his own, is guilty of deception by impersonation. The offence of impersonation can be applied both to the student and the impersonator.

The word count for this entire assessment is 2,500 words. The maximum allowable word count for this entire assessment is therefore 3,000 words (including the normal allowance for variation of length). You must reference your work using the Harvard system of referencing a guide to which is posted on

Udo. If your answer exceeds this limit then you risk being marked down a grade.

For further guidance on answering legal problem questions see Module Handbook.

Coursework Question
Part 1 Sheridan has decided to sell her car. She parks it outside her house with a notice on the front windscreen stating: For Sale. Pristine example one owner. 4,750 or near offer. Please call at number 15 or tel: 793 1234, only. First person to agree a price WILL get the car. On Monday at 9am, Rabina sees the car, but as she is late for the dentist, she telephones Sheridan from work at 10am, and makes an offer of 4,500 which Sheridan says she would like to consider. Rabina says that she will assume Sheridan has accepted unless she hears from her by 9pm that evening, a proposal to which Sheridan agrees. At 11am on Monday, Darren calls at Sheridans house but Hilary, Sheridans daughter, is the only person there. He therefore leaves a note reading: Monday 11am. Please keep car for me here is a cheque for 4,750, Darren. Hilary leaves the note on the desk in Sheridans study. At 2.15 pm on Monday, John sees the notice and, within a few minutes, has posted a letter of acceptance and cheque for 4,750, using the post box at the end of the street. Unfortunately John misaddresses the letter so it only arrives on Friday. At 3pm on Monday, Sheridan agrees to accept Rabinas offer and posts a letter to Rabinas business address saying; I agree to sell on your terms. Because of the lower price can you pay in cash? At 9.30pm on Monday, Sheridan reads Darren acceptance and immediately telephones Rabinas business address, leaving a message on the recorded answering service: Ignore the letter you will receive deal off. Sheridan. Rabina is away on business and only listens to the tape on Wednesday evening. 1. Advise each party as to their legal position (25 marks)

Part 2 During a public lecture, Louis, a well known Accountant and Financial Advisor, replied to a question about the best companies on the market in which to buy shares. Wesley, who had recently inherited a very large sum of money attended the lecture and made a careful note of the reply, which was directly relevant to his own financial interests. At a cheese and wine reception after the lecture, Wesley spoke personally to Louis about the company whose accounts Louis had recently audited. Louis confirmed the advice given in the lecture and gave further suggestions.

Wesley subsequently invested 10,000 into a company recommended by Louis. Shortly after, the company went into liquidation and Wesley is unable to recover his money. 2. Can Wesley bring a claim against Louis? (25 marks)