Property Law Assignment

Property Law Assignment 1602
Property Law Assignment
Submission Instructions:
Key steps that must be followed:
1. Please complete the Declaration of Authenticity at the bottom of this page.
2. Once you have completed all parts of the assessment and saved it (eg. to your desktop
computer), login to the Monarch Learning Management System (LMS) to submit your
assessment.
3. In the LMS, click on the file "Submit Property Law assignment” in the Property Law
section of your course and upload your assessment file/s by following the prompts.
4. Please be sure to click “Continue” after clicking “submit”. This ensures your assessor
receives notification – very important!
Declaration of Understanding and Authenticity*
I have read and understood the assessment instructions provided to me in the Learning Management System.
I certify that the attached material is my original work. No other person’s work has been used without due
acknowledgement. I understand that the work submitted may be reproduced and/or communicated for the purpose
of detecting plagiarism.
Student Name*: Date:
* I understand that by typing my name or inserting a digital signature into this box that I agree and am bound by the
above student declaration.

Property Law Assignment 1602
Important assessment information
Aims of this assessment
This assessment covers the application of legal principles in property law.
It requires the completion of a set of questions in relation to:- framework of the Australian legal
system; introduction to interests in real property; and shared and transferred interests in real
property.
Personal property as well as intellectual property (including application, protection and
commercial value) are also covered.
The assessment includes an overall understanding of the way that Australian law operates;
covering legislation and case law. This is explored through the assessment of various business
based scenarios.
It explores the ownership aspects of real property, trust property, personal property and
intellectual property.
Risk management, with relevance to business situations forms the final part of the assessment.
Preparing your responses
Please refer to the beginning of your text book to familiarise yourself with the sections on 'Case
Studies, Scenarios and Problem Questions', and 'How to answer a question'. This will assist you to
formulate your response.
Marking and feedback
This assignment contains 6 assessment activities based upon each of the six chapters of the text.
Each assessment activity contains specific instructions.
This particular assessment forms part of your overall assessment for the following unit of
competency:
 FNSTPB505 Apply legal principles in property law
Grading for this assessment will be deemed “competent” or “not-yet-competent” in line with
specified educational standards under the Australian Qualifications Framework.
Unit: FNSTPB505

Property Law Assignment 1602
What does “competent” mean?
These answers contain relevant and accurate information in response to the question/s with
limited serious errors in fact or application. If incorrect information is contained in an answer, it
must be fundamentally outweighed by the accurate information provided. This will be assessed
against a marking guide provided to assessors for their determination.
What does “not-yet-competent” mean?
This occurs when an assessment does not meet the marking guide standards provided to
assessors. These answers either do not address the question specifically, or are wrong from a
legislative perspective, or are incorrectly applied. Answers that omit to provide a response to any
significant issue (where multiple issues must be addressed in a question) may also be deemed
not-yet-competent. Answers that have faulty reasoning, a poor standard of expression or include
plagiarism may also be deemed not-yet-competent. Please note, additional information regarding
Monarch’s plagiarism policy is contained in the Student Information Guide which can be found
here: http://www.monarch.edu.au/student-info/
What happens if you are deemed not-yet-competent?
In the event you do not achieve competency by your assessor on this assessment, you will be
given one more opportunity to re-submit the assessment after consultation with your Trainer/
Assessor. You will know your assessment is deemed ‘not-yet-competent’ if your grade book in the
Monarch LMS says “NYC” after you have received an email from your assessor advising your
assessment has been graded.
Important: It is your responsibility to ensure your assessment resubmission addresses all areas
deemed unsatisfactory by your assessor. Please note, if you are still unsuccessful in meeting
competency after resubmitting your assessment, you will be required to repeat those units.
In the event that you have concerns about the assessment decision then you can refer to our
Complaints & Appeals process also contained within the Student Information Guide.
Expectations from your assessor when answering different types of assessment questions
Knowledge based questions:
A knowledge based question requires you to clearly identify and cover the key subject matter
areas raised in the question in full as part of the response.
Good luck
Finally, good luck with your learning and assessments and remember your trainers are here to
assist you 
Unit: FNSTPB505
Assessment Activity 1:
Framework of the Australian Legal System (Chapter 1)

Property Law Assignment 1602
Activity instructions to candidates
 This is an open book assessment activity.
 You are required to read this assessment and answer all 6 questions that follow.
 Please type your answers in the spaces provided.
 Please ensure you have read “Important assessment information” at the front of this assessment
 Estimated time for completion of this assessment activity: 2 hours
Question 1.1
What are the two main sources of law in Australia? Which is most powerful? Why?
Question 1.2
Why is precedent important?
Question 1.3
Which tier of government, federal, state or local do you think has the greatest influence/effect on businesses
in the financial services environment? Why?
There are two main sources of law in Australia, legislation and common law. Legislation is more
powerful than common law. Legislation implies laws made by the parliament. Whenever there is
an inconsistency between the common law and legislation, the provisions of the legislation will
prevail.
Precedents are the judge-made laws. Judges often refer to the decision of a previously decided case
while deciding on a case of similar nature. These judgements takes the form of law. These precedents
are important because they maintains the consistency, fairness and predictability of common law.
The laws made by the federal government has the greatest influence as the laws made by the state or
local government is only applicable to that particular state or locality. Moreover, any law inconsistent
with the federal laws will be rendered void to the extent of its inconsistency.
Unit: FNSTPB505

Property Law Assignment 1602
Question 1.4
Using examples, explain what is meant by 'delegated' or 'subordinate legislation'. Why is this type of legislation
particularly important in ensuing clients are properly advised about business compliance?
Question 1.5
Australia's legal system is based on the 'rule of law' central to which is natural justice. How is natural justice
incorporated into our court system?
Sometimes, the parliament delegates their legislative powers to an executive body. The laws made by
such executive bodies are called delegated legislation. For example, regulations made by a company to
ensure safety of its workers.
These are important to business compliance as they are part of the legislation and it gives an intricate
detail to the general principle provided in the legislation and are also amended frequently.
Natural justice is based on the principle of freedom from bias and the right to be heard. A judge must
be impartial while deciding on a case. He should have personal interest in the case and should not be
biased while deciding on a case. Moreover, the person who is being affected by the court’s decision
must be provided with a chance to present his view and evidence on the same. That is how natural
Unit: FNSTPB505

Property Law Assignment 1602
Question 1.6
Test your knowledge: Complete the following crossword puzzle
Across
1. The lower house of Federal Parliament is the House of........
2. Criminal law is an example of ..........law.
3. The Council of Australian Governments is also known as ........
4. Type of law making power under s90 of the Constitution wherein only the Federal parliament has the power
to make law over customs, excise and bounties.
5. Type of law making power under the Constitution wherein only the State parliaments have the power to
make legislation regarding certain subjects.
Down
1. The most powerful form of law is...
2. Law of fairness and good conscience.
3. The power to implement and administer laws.4. Parties submit their dispute to an impartial third party who
will make a decision for the parties to which they are contractually bound.
5. The foundation of common law is the Doctrine of......
6. Specialised bodies set up by government to hear specific matters.
Unit: FNSTPB505