Answer 1.Issue: After going through the fact given in this question, the issue arises if Tim has the authority to create a contract that is legally enforceable against Motorbikes Pty Ltd. Rule: there are several situations where the director is going to execute a document for the company. In this regard, section 127, Corporations Act provides the methods in which a company can validly execute a document. Therefore, it is possible for a compan...Read More >>
Answers: 1.Issue Whether the contract made amid Tim and John is binding upon Motorbikes Pty Ltd and John? Relevant Law Any person who wants to indulge in any kind of business has the option to engage in sole trader ship, a part ship or a company. When a business is registered as per the provisions of the Corporation Act 2001 and ASIC then a company is formulated. A company is a separate legal person in law and has the power to act on its own ...Read More >>
Answer: A business when registered acquires the status of a company which is governed by Corporation Act 2001. A registered company is a legal person in law and acquires all the powers that of a normal person. One of the prime elements of a registered company is separate legal personality. Now, in Saloman v saloman, the House of Lords submitted that every company is distinct in its own capacity and has the power to make contract, sue or be su...Read More >>
Answers: 1. Issue Whether the Motorbikes Pty Ltd was bound by the contract made on its behalf? Rule As per Section 126 of the Corporations Act, 2001, the company has a power to make a valid contract. The contract may be exercised by the any person who has direct authority or implied authority to execute a contract on the behalf of the entity. An individual may act and contract on the company’s behalf in the same manner in which...Read More >>
Answers: Answer 1 Issue Whether Motorbikes Pty Ltd is liable in terms of the contract signed with the John Law Section 127 of the Corporation Act 2001 states the regulations related to execution of the document. According to clause 1 of the section, organization can execute the documents deprived of fixing the common seal on the document if such document is affixed by the signatures of the two directors of the organization or by the direct...Read More >>
Answers: This is the case study which discusses about a contract which is to enter by a company with a third party. After understanding this case study one can easily understand the different types of contract and how to deal in case of such contracts. To come to a conclusion for this case one needs to understand the provisions relating to contracts entered in Australia. A contract can be anything, whether in a written or an oral form. It can...Read More >>
Answers 1. Issue Can Motorbikes Pty Ltd rescind the contract entered by Michelle and Tim with John? Law Any person in Australia if intends to establish a corporation, then, he must comply with the provisions of the Corporation Act 2001. An entity upon incorporation gains the status of a corporation. As per Saloman v saloman (1896) every corporation become an artificial personnel once registered. The company acts like a p...Read More >>
Answers: Contract law or rules are the conventional rules governing the validity, content, and the relationship of an agreement between two or more companies, institution or individuals. In most cases in the areas of provision of services, the sale of goods or the exchange of ownership or interests AGC (Advances) Ltd v McWhirter (1977) 1 BLR 9454. It is the law that governs what happens when the contract breaks down and establishes the terms o...Read More >>
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