Legal Environment in Australia : Report
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Added on 2020-07-22
Legal Environment in Australia : Report
Added on 2020-07-22
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REFLECTIVE JOURNAL
TABLE OF CONTENTSREFLECTIVE JOURNAL: LEARNING EXPERIENCE..............................................................3REFERENCES................................................................................................................................7
REFLECTIVE JOURNAL: LEARNING EXPERIENCEReflection journalMy learning experiencesWeek 1In the first week of workshop I have learned the legal environment in Australiasuch as constitution of Australian laws as well as legislation of laws. These lawsor acts are facilitated by federal registrar of legislations which has implementedvarious laws and acts in context with fair taxation. It drives power to state as wellas local government and facilitate them with separate jurisdiction, courts andparliaments. Hence, I got to know that, there has been two kinds of laws enactedin Australia such as Statutory and common law (Australia: Legal environment,2017). Thus, in Statutory law the laws are made by parliament or mat be thefederal parliament of state or territory which impose jurisdiction in regards withtaxation, defence, interstate and international trade as well as relevant domesticissues. However, in the common law there is record of various case laws,precedent by jurisdiction, tribunals and various courts which in context withgiving the adequate information relevant with British common law.Week 2In the second week, I have explored various kinds of business structure are inforce as well as their relevant jurisdiction which helps an individual to understandterms and condition in each structure of firm. There are mainly four kinds ofstructure that follows by individuals such as sole trader, company, legal andpartnership businesses. I have concluded the 1st case study, there is 3 individualindulge in a partnership of Hen House Warehouse as well as do a side business intheir free time. BeMaMi is the name such business where they facilitate Mowingservices in context with earning the extra funds. Betty has developed the separatepartnership and signed an agreement with other company in behalf of theirpartnership firm as well as deposited the earning in her personal bank account. Atthe time of arrival of bills all the other partners were upset and have theinsufficient fund in meeting such expenses (Bassiouni, 2014). I insist that, allpartnership agreements must be signed and each transaction on behalf of suchfirm or industry must be in recognition of all the partners. They must know all
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