IMPORTANT NOTE: This essay topic only applies to LAW5500 students who do not sit the mid term test..

IMPORTANT NOTE: This essay topiconly applies to LAW5500 students who do not sit the mid termtest. Students who do not sit the test for any reason are deemed tohave elected to do the essay option, which is due Monday 11.59pm Week 11,by Assignment Manager.LAW5500 on campus assignment (theessay option):
The Assignment topic is asfollows:“We learn that duties of directors in Australiagenerally tend to be classified under one or other of two distinctiveobligations: a duty of good faith and a duty of care. Indeed, we learnthat under the Corporations Act, directors are required (amongst othermatters) to carry out their duties in good faith with the exercise of power fora proper purpose, and to exercise reasonable care and diligence in their activities.Directors who fail to observe their duties and obligations without legal excusewill be exposed to significant liabilities and penalties.â€Reflect on the above statement and then, withinthe scope of the unit, evaluate this statement and discuss the nature andextent of the statutory duties imposed on directors by the Corporations Actidentified in the statement. Your discussion should includea critical analysis of the nature, application and effectiveness (includingdiscussions on consequences for breach of duty) of the two statutory duties ofdirectors under the Corporations Act identified in the statement above(that is, the duty of good faith and the duty of care and diligence).Students should briefly discuss the common law duties of directors andrelevant common law matters by way of background. As this essay requiresan analytical approach, you should extend your discussion of the statutoryduties noted above well beyond a mere description of the principles. Itis essential that your essay contains a significant analytical component and iswritten to the standards expected of post graduate students. Youshould use section numbers and case authorities to support your arguments, andif possible illustrate with examples of contemporary cases before thecourts. You should use a range of secondary authorities (books andarticles), consistent in number and quality with a post graduate leveluniversity essay, and duly acknowledged with proper referencing to support yourassertions and arguments.Whenconstructing your essay, reference must be made to the requirements listed inthe Unit Plan for this assignment, and you should use the relevant formattemplate provided on Blackboard in due course.
CONFORMANCE STATEMENTPlease note the following, andenter the required information in the grey shaded spaces provided prior tosubmission of the essay.1. Your LAW5500 on campus essay should have notless than 3500 effective words butnot more than 4000 effective words(without the express permission of theUnit Coordinator) (see LAW5500 Unit Plan (February, 2012, page 10).This essay has…………. words(indetermining the number of words, do a ‘word count’ from the beginning of your Introduction to theend of your Conclusion, and subtract all headings, sub headings, directquotations and in text references therein from the result).
2. Your LAW5500 essay should use at least 20 quality academic reference sources(i.e. in terms of LAW5500 requirements, texts and journal articles – see LAW5500Unit Plan, page 11). This essay has……quality academic referencesources (in determining the number of quality academic reference sources for LAW5500purposes, add up the total number of end references and subtract those whichare not texts or journal articles; do notinclude the number of cases inthis count – see point 4 below).
3. Your LAW5500 essay should cite your endreference sources (collectively) on at least 36 occasions in the body of your essay. This essay has…… in-textreference entries. (in determining the number of in-text references used, count the numberof times your end reference sources have been cited in-text in total – notethat a few of your reference sources will likely be cited in-text more oftenthan others; do notinclude the number of cases in this count – seepoint 4 below).
4. Your LAW5500 essay should use at least 12 to 15 case authorities. This essay uses…… cases(in determining the number of cases, add up the number of cases in your Tableof Cases, which should reflect the cases cited in the body of the essay).
I acknowledge that the informationrelating to my LAW5500 essay in the above conformance statement is true andcorrect to the best of my knowledge.Name:__________________________________Student Number: ______________
LAW5500 BUSINESS ENVIRONMENT OF CORPORATE LAWON CAMPUS 01 2012
ESSAY OPTION ASSIGNMENT (DUE MONDAYWEEK 11)
Directors’duties: good faith and care
An essay by __________________________ (your name)
TABLE OF CONTENTSPage1.0 Introduction……………………………………………………………….
2.0 Background – common law duties……………………………………………..
3.0 Duty of good faith…………….……………………………………………….
3.1 (insert sub heading here)……………………………………………………
3.2 (insert sub heading here)……………………………………………………
3.3 (insert sub heading here)……………………………………………………
4.0 Duty of care and diligence…………………………………………………….
4.1 (insert sub heading here)……………………………………………………
4.2 (insert sub heading here)……………………………………………………
4.3 (insert sub heading here)……………………………………………………
5.0 Analysis ……………………………………………………………………….(pleasenote – the sub headings will, of course, be informed by the flow of theanalysis)
5.1 (insert your first sub headinghere) ………………………………………….
5.2 (insert your second subheading here)…..…………………………………..
5.3 (insert your third sub headinghere)…….…………………………………..(insert subsequent sub headings here if and as necessary)
6.0 Conclusion …………………………………………………………………….
7.0 End References and Table ofCases …………………………………………..
1.0Introduction
2.0Background – common law duties
3.0Duty of good faith
3.1(insert sub heading here)
3.2(insert sub heading here)
3.3(insert sub heading here)
4.0Duty of care and diligence
4.1(insert sub heading here)
4.2(insert sub heading here)
4.3(insert sub heading here)
5.0Analysis
5.1(insert your first sub heading here)
5.2(insert your second sub heading here)
5.3(insert your third sub heading here)
6.0Conclusion
7.0End References and Table of Cases
Essay marker’suse only:
LAW5500Marking guide – Essay AssignmentStudent ……………………………………Number ……………………………………Total Mark ………………………Grade Related DescriptorsWritten Argument
Grades
Descriptive content
Analytical aspects
Format and structure
High Distinction80-100%
All descriptive aspects of the question/topic were addressed andresearched in great depth
The submission shows great insight into the topic and excellent analyticaldevelopment
All aspects of the submission conform to a high academic /professional standard
Distinction70-79%
Most descriptive aspects of the question/topic were addressed andresearched in reasonable depth
The submission indicates some evidence of analysis development and insightinto the topic
Most aspects of the submission conform to a high academic /professional standard
Credit Pass60-69%
Most descriptive aspects of the question/topic were addressed andresearched adequately
The submission shows evidence of elementary analysis and thedevelopment of argument
Most aspects of the submission conform to an acceptable standard
Pass50-59%
Elementary descriptive aspects of the question/topic were addressedand researched adequately
The submission is mainly descriptive, showing a pass level understandingof the topic
The submission displays basic structure
Fail