LAW AND BUSINESS ASSIGNMENT
DATE OF HANDOUT: 17 March 2022
DEADLINE FOR SUBMISSION: 27 April 2022
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L1667 Page 2 of 6 © The University of Law Limited 2021-2022
ASSESSMENT
You are a trainee at Odburn and Lake LLP (OL), a leading international law firm with
offices in 11 major cities throughout the UK and Europe and its headquarters in
London.
QUESTION 1
OL’s tax team have asked you to write a short article to be placed on the firm’s internal
intranet site. You have been asked to:
(a) Choose two fiscal policy measures deployed by the UK government in response
to the pandemic and explain the economic rationale for their use. When
selecting the measures please consider (b) and (c), selecting measures that
illustrate the points you wish to make.
(b) Analyse whether the measures you chose at (a) were effective in the short term
(less than 12 months). Use economic data to support your evaluation.
(c) Critically evaluate whether the fiscal measures you identified are likely to
stimulate the economy in the long term and/or whether they carry the risk of
causing problems in the economy.
Total marks for Question 1: 25 marks
L1667 Page 3 of 6 © The University of Law Limited 2021-2022
QUESTION 2
In preparation for a meeting with your client Proptech PLC and its accountants you
have been asked to prepare a note in which you:
(a) Calculate the Weighted Average Cost of Capital (WACC) of Proptech PLC
using the capital asset pricing model and relevant information in the Appendix.
Please show the sub-calculations made to arrive at the final figure clearly.
You are advised to avoid rounding figures until you arrive at the WACC figure
itself at which point please round to the nearest 2 decimal places.
(8 marks)
(b) Please read the Appendix to this assessment.
Proptech PLC has expansion plans which involve significant investment.
Decisions will be taken using net present value, internal rate of return and
payback valuation methods.
(i) Explain fully if, how and why WACC will be used in the calculations.
(ii) Critically evaluate the usefulness and relevance of using WACC in the
calculations.
(12 marks)
Total marks for Question 2: 20 marks
L1667 Page 4 of 6 © The University of Law Limited 2021-2022
QUESTION 3
OL are analysing the legal market to inform their strategy.
The partners have allocated a selection of firms to trainees and have asked trainees
to submit a SWOT analysis of their allocated firm to the partners.
You have been asked to complete a SWOT analysis of Slaughter and May. You are
keen to impress the partners and intend to show your analytical and research skills in
this task. Ensure that you explain why the points you make are a
strength/weakness/opportunity/threat and reference your sources.
You must use publicly available information (including information on ULaw’s library
database) and reference your work throughout so that the information can be verified.
No credit will be given for points based on personal knowledge or insight gained other
than via public sources.
Total marks for Question 3: 30 marks
L1667 Page 5 of 6 © The University of Law Limited 2021-2022
QUESTION 4
OL are reviewing their diversity and inclusion policies. Your partner has been asked
to lead on this and has asked you to help. He would like you to write a report in which
you:
(a) Evaluate the firm’s diversity and inclusion statement reproduced in full below,
sharing in that evaluation what you think is good about the statement and why
and pointing out any improvements to the statement that you feel would add
value to it.
“At Odburn and Lake LLP we value diversity in our team for the unique
perspectives and bright ideas a diverse team generates. We embrace
employees from underrepresented groups and recruit regardless of race,
colour, gender identity and expression, religion, national origin, ancestry,
citizenship, physical abilities, body size, age, sexual orientation, veteran status,
or criminal history.”
(12 marks)
(b) present an informed and balanced view on whether allowing staff to work from
home for part of the week is inclusive. In your answer, please explain what you
mean by inclusivity.
(13 marks)
Total marks for Question 4: 25 marks
TOTAL MARKS FOR THIS ASSESSMENT: 100 MARKS
L1667 Page 6 of 6 © The University of Law Limited 2021-2022
Appendix
Extract Financials: Proptech PLC
Profile: United Kingdom-based real estate investment trust. The Company owns,
develops and manages warehouse properties in the United Kingdom and Europe.
The portfolio includes warehouses and light industrial buildings, including
warehouses used as data centres and for logistics operations. These are
concentrated in the United Kingdom, France, Germany, and Poland. The
remainder of the portfolio is located across other European countries including
Spain, the Netherlands and the Czech Republic. Its properties are used by various
sectors, including retail, transport and logistics, post and parcel delivery, services
and utilities, retail, and technology, media and telecoms.
Shares in
issue
12 million Bonds:
total bonds
issued
800 000
Current
market
value per
share
338p Current
market
value per
bond
£115.20
Beta 0.5566 Issue date 12
February
2000
Risk free
rate
1% Redemption
date
12
February
2024
Market rate 4% Coupon –
fixed
income
bond
6.75%
P/E ratio 11.09 Issue price £100
Dividend
yield
1.60% Corporation
tax rate
19%
END OF ASSESSMENT
