(solved) Assignment on Bytecoin

Added on -2020-07-22

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YOU SHOULD DOWNLOAD THIS DOCUMENT.COMPLETE THE DETAILS REQUIRED AND WRITE YOUR ANSWERS WHEREINDICATED.FOLLOW THE COMMENT BOX INSTRUCTIONS.AFTER YOU HAVE DONE SO, SAVE YOUR PROJECT AND SUBMIT ITELECTRONICALLY.To provide clients with a guide for answering this assessment, the word count should correlateapproximately with the marks allocated (ie you should aim to devote approximately 2,300 words toyour answer for Question A [65% of the marks – 65% of the word limit]).QUESTION A:You are a newly admitted legal practitioner and Andrew is your first client. He has consulted you forlegal advice about his problem. The events occurred recently. Andrew instructs you at yourinterview in detail. Your notes include the following:-Andrew arrived home from work to a distressing situation. He lives in a rented property inGroomsdale, Queensland. Andrew logged into his Bytecoin account balance online andfound it was empty. Andrew explained that Bytecoin is a so called “cryptocurrency” in whichhe had invested heavily. So heavily in fact, he had taken out a bank loan to buy more thanhis savings permitted. He also instructs that Bytecoin operates on the basis of a secretdigital key. That digital key not only proves to the Bytecoin network the owner of certainBytecoin, but that key also enables an irreversible transfer of ownership of that Bytecoin.Andrew’s Bytecoin account previously contained 2,350 Bytecoin (the exchange rate is that 1Bytecoin = $1,000). It is now empty. He has discovered that 350 Bytecoin were transferredto his girlfriend Bree. Andrew had told Bree his digital key so she could “buy that dress shereally wanted”. Bree is not now returning any of Andrew’s messages or texts. Theremaining 2,000 Bytecoin were transferred to someone called Cecil. Andrew does not knowthis person and does not believe that Bree does either. Andrew believes that either Breehas mistakenly transferred this amount to Cecil instead of herself or, that Cecil has somehowhacked Andrew’s digital key. Andrew has reported the matter to the police, but wants toknow his civil law position urgently and particularly what his rights and remedies are.Andrew has now borrowed more money from friends and reopened his Bytecoin account.Having learned his lesson from last time with the password, he has written the passworddown and elected to secure it. To do so, he cut a hole in the wall in his bedroom to hide itthere. To his surprise however, he found jewellery box inside the wall. On opening, itcontained five various pieces of jewellery of a significant age and, he believes, value. Heposted a photo of the box and his surprise at finding it, on social media. As a result, hislandlord, David, has become aware of the find and claims it. Also a third party, Ellen hassought ownership of the jewellery as she has recognised the photo of some of the items asapparently belonging to her great grandmother, Frida.Andrew is now super-sensitive about security and has purchased a very expensive, mediumsized, camera enabled, unmanned aerial vehicle, also known as a drone. Andrew hasprogrammed the drone to hover above his house when he is away from home. The droneautomatically lands and recharges when its batteries get low. Also, the drone’s cameras areset to constantly record and provide Andrew with that recorded footage on landing.Andrew’s neighbour’s house is displayed partially in the corner of the footage. Gilda, theneighbour, confronted Andrew a week ago and threatened legal action if he did notdeactivate the drone. Yesterday, the drone disappeared. He contacted Gilda who said it
landed in her backyard and she is keeping it. Currently is it visible on her back deck andseems to be used by her as a drinks tray. Andrew would like the camera footage from thedrone in particular as he feels that would provide a clear answer as to how or why the dronestopped doing what it was programmed to do.
Page 3 of 16Andrew would like to regain his lost Bytecoin, retain the jewellery, leave his security measures inplace and recover the missing footage. Write a letter to Andrew on behalf of the firm statingwhether that is possible by addressing his legal position and advising him about his rights andremedies.Your Supervising partner has sent you a memo saying: Please note that your letter must state thebasis of your opinion as an expert in property law only and you should advise only on that basis. Itmay be that other areas of law are specifically relevant after the fundamental legal issues relating toproperty law are resolved. Others in your law firm specialising in other legal areas will comment at alater time. Therefore, do not advise on any matter outside property law (eg criminal law) unlessyou do so briefly and it is absolutely essential to your property law advice. Your Property Lawsubject Course Content, selected readings, cases, textbooks, and journal articles will guide youranswer and you should do more research than the base course material. (65 marks)Your Answer:In relation with analysing the requirements of property law in Australia which in turnimplicated as to secure the human rights as well as right on the property. Moreover, theimplication of such laws and regulations is to bring the favourable suggestions as well asjurisdiction to individuals. By considering the case of Andrew where he has lost all of hismoney in Bytecoin1. He had the secrete digital key which he only shared it with her girlfriendBree. The last transaction in his account on which he relaid is that he has transferred thefunds to his Girlfriend's account for amount of $350. But there has been last transactionwhich was on the name of Cecil2. Neither Andrew was aware of such transaction as well ofthe person, nor Bree was. Therefore, in relation with such case Andrew thought that either hisgirlfriend has mistakenly transferred funds to Cecil's account or may be Cecil is hacker3.Therefore, to overcome with such puzzled situation Andrew has marked complained in thepolice station as to have the favourable jurisdiction over this case. He has proposed to havethe adequate analysis over the rights and remedies allowed to him in consideration of thiscase4.1Easteal, P., Young, L. and Carline, A., 2018. Domestic Violence, Property and Family Law in Australia.International Journal of Law, Policy and the Family.2Tushnet, M., 2017. Comparative constitutional law. In The Oxford handbook of comparative law.3 Young, C. S. R., 2019. Conference keynote: Subject to Contract: Law as an Artistic Medium. Keynote given at'Art in Law in Art'international conference, University of Western Australia, Perth.4Kalyvas, S.N., 2018. Civil wars. In The Oxford handbook of comparative politics.
4The site Bytecoin is denoted as Crypto-currency which is determined as the digitalassets which is usually operated in the Central banks and central authority or government5.Therefore, the creation of trade and implicating the use of this currency into operation whichenables the taxation authorities to charge income tax over it in terms of Crypto-currency6.Moreover, if the person is aware with the crypto-currency that there is needed to haveappropriate information relevant with the tax and legislations involved with it. Moreover, ithas been ascertained here that the revenue gathered by a person through such sources onwhich they have to make payment of Capital Gain tax7. On the other side, if a person isholding the ownership of Crypto-currency for more than 12 months than he / she will beentitled to have discount and remedies in CGT.However, in relation with having such drastic losses from such incidences Andrewhas take borrowings from his friends and again enrolled in Bytecoin on which this time hekept the digital key confidential. In relation with that he has written such digits and create ahole into the wall as to place it somewhere secured8. Therefore, when he was engaged inmaking such action he found a jewellery box which was consists of 5 different jewellery9.Therefore, he might found the jewellery box the rights were of the landlord of that on suchgains10. Andrew was a tenant to such property and he will bot have rights to claim such gains.On the other side, Ellen recognises that such jewellery is belongs to her great-grandmotherand she claimed this is her property11. Therefore, there might be right to a person on theancestor property. But the first and for most rights are of the owners of such property.Moreover, the landlord will have rights to take the jewellery unless Ellen brings someConcrete proof to it.5Christensen, S., Dixon, B. and Wallace, A., 2017. Land Titles Law and Practice Update 88. Land Titles Law and Practice.6dos Santos, C. E. O. and et.al., 2017. Hyoscine butylbromide for colorectal polyp detection: prospective,randomized, placebo-controlled trial. Clinics.72(7). pp.395-399.7Bacina, M. and Kassra, S., 2017. Technology: Unlocking cryptocurrency token sales. LSJ: Law Society of NSW Journal. (37). p.79.8Kbilashvili, D., 2018. Influence of E-Commerce and Cryptocurrency on Purchasing Behavior of Wine Customers. Global Journal of Management And Business Research.9Chohan, U.W., 2017. Assessing the Differences in Bitcoin & Other Cryptocurrency Legality Across National Jurisdictions.10Kaal, W.A., 2018. Initial Coin Offerings: the Top 25 Jurisdictions and Their Comparative Regulatory Responses.11De Zilva, N., 2018. The evolving tax treatment of cryptocurrencies. Taxation in Australia, 52(7), p.372.

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