There are THREE PARTS to the coursework. All parts must be completed
The assessment should be word processed and the font size should be 12
There is no format for the assessment and students should answer each question, using references to support their answer.
The word count for the assessment is up to a maximum of 1,500 words (+/- 10%)
Summative assessment – the mark for the coursework assessment will be given to you on the University results day
PART 1
Tanya, the owner of a hotel, takes bedroom curtains to Kirkby Dry Cleaners to be cleaned. She explains that the curtains have various small stains. The Kirkby Dry Cleaners assistant says that the marks can be removed quite easily and that the cleaning of the curtains will cost £250. Tanya agrees and hands over the curtains to the assistant. Tanya is given a receipt for the curtains which states on the front “See reverse”.
On the back of the receipt is the following term: “Items are accepted for cleaning on the basis that Kirkby Dry Cleaners are not liable for any damage howsoever caused”. Tanya puts the receipt in her bag, unread.
When Tanya returns to collect the curtains she discovers that in removing the stains the curtains’ colour has also been removed, ruining the curtains. Tanya wants to claim for the ruined curtains, but Kirkby Dry Cleaners says that all liability has been excluded.
Advise Tanya.
(Approximately 500 words)
PART 2
Jacintha is a qualified financial adviser and the following people have relied on Jacintha’s financial advice, although none of them have paid a fee for the advice:
- Pearl had £20,000 to invest and she made an appointment to see Jacintha at Jacintha’s business office. Jacintha advised Pearl to invest the £20,000 by purchasing shares in Grue & Co.
.
- In a television interview, Jacintha was asked for a good tip for making a wise investment. She stated that purchasing shares in Grue Bank would be a good investment. The following day, five hundred television viewers purchased shares in Grue & Co, in reliance on Jacintha’s statement in the television interview. They each invested thousands of pounds.
- Harold visited Jacintha’s office for financial advice. He too was advised to purchase Grue & Co shares but Jacintha included a disclaimer, stating that she could not guarantee how well the share values would hold up. Harold did not inform Jacintha that he was intending to invest one million pounds.
Six months after these investments were made, Grue & Co went into liquidation and all Grue & Co shareholders suffered economic loss as a consequence.
Advise the parties who acted in reliance on Jacintha’s advice, as to any claims they might have against Jacintha for economic loss in tort. Use sources of law and case law to support your advice.
(Approximately 500 words)
PART 3
Wasp plc owned 5% of the shares in Fly plc and was considering making a take-over bid for the shares in Fly plc. In December 20X4, Wasp plc wrote to Fly plc’s auditors, Antro & Co, asking if their audit report could be relied upon as representing an accurate view of the financial position of Fly plc. Alex, the senior partner of Antro & Co, replied in writing that Wasp plc could indeed rely on the accuracy of their report. As a result, Wasp plc submitted a take-over bid and gained control of the entire share capital of Fly plc. Wasp plc has now discovered that Fly plc’s assets are worth far less than stated by Antro & Co in their audit report. Wasp plc considers this to have been caused by Antro & Co carelessly overvaluing Fly plc’s assets. This resulted in Wasp plc paying more for the shares than it would have done had the truth been known.
Required:
(a) Briefly explain the meaning of special relationship within the tort of negligence.
(b) Identify what factors will be considered in determining whether Wasp plc can make a claim against Antro & Co
(Approximately 500 words)
5005LBSAF – Law for Accountants
COURSEWORK FEEDBACK SHEET
STUDENT NAME
REGISTRATION NUMBER
| Application of law to the factual situation Use of sources and case law Referencing | 30% | |
| Application of the law to the factual situation Use of sources and case law Referencing | 30% | |
| Application of the law to the factual situation Use of sources and case law Referencing | 30% | |
| Presentation, grammar, punctuation, flow of answer. | 10% |
OVERALL COURSEWORK MARK AND ADDITIONAL COMMENTS
| Mark |
Marker ………………………………………………………..
Second marker ……………………………………………………
