country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Business And Corporation Law: Robert And EY Pty Ltd

tag 0 Download4 Pages / 813 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Discuss about the Business and Corporation Law for Robert and EY Pty Ltd.

 

Answer:

The Case Between Robert and EY Pty Ltd

In situations where a person's private interests conflict with his or her professional interests and duties, such an individual will get charged with Conflict of Interest according to the business law. Therefore, with regard to the case between Robert and EY Pty Ltd, it can be said that Robert breached her director’s duty by failing to perform her duty of loyalty to EY Ltd. She will be liable for Conflict of Interest because of using her position to influence the EY board of director’s decision for her own personal gain instead of the general benefit of the company. Robert knew that once the company agrees to have a long-term contract with WHS where she enjoys the majority shares, she will benefit a great deal. It is against Directors’ Statutory Duties under sections 181, 182, and 183 of the Corporations Act to practice conflict of interest.

Even though Robert had a conflict of interest on the negation of the contract between EY and WHS companies, she was still to be included on the board meeting. It is because she could not recuse herself. Recusal means that when an individual has a conflict of interest she can withdraw from her duties and avoid participating in the decision-making process. She could remain on the board but only participates on the agendas that have conflict. On the other hand, she must disclose her self-interest before any further conflicts arise. Doing so will help other directors understand her overall background as provided under section 182 of the 2006 Act.

Moreover, the remedies that EY should seek against Robert may include breach of duty, skill, and diligence. EY may also decide to put an injunction, set aside the business and restitution, make account for the profits, and to restore damages from Sam. Moreover, the company can decide to terminate Robert's service contract or disqualify him as a director as stated under Company Directors Disqualification Act 1986.

In addition to remedies, the penalties that Robert might face if found to have breached his duties could be the civil or criminal punishments. His breach could be criminal if he had acted with intentional dishonesty or recklessly as provided under section 184 of the Corporate Act. On the other hand, the EY Company might take civil action and claim for the damages under common law, in order to avoid high threshold of the criminal standard of proof.

 

Duty of Care and Diligence

Rose as non-executive director can be allowed to sit on the board but plays no active role in the day to day management of the business. However, Rose still has some vital responsibilities as well as penalties that she might face if she fails to carry out her duties. The responsibilities of Rose as a non-executive are: (1) to provide input to the introduction program (2) to provide independent oversight and provide a constructive challenge to the board, and (3) to insist on receiving correct information in advance of meetings or between the meetings. She was not allowed to perform the above duties, which means that her rights to the statutory duty of care and diligence got breached. Sam did everything without consulting any of the board members; thus, leaving Rose in a situation where she was not able to discharged her duties like any other reasonable person would have exercised. 

Consequently, Rose’s agreement to the purchase of the new premise would not be protected by s.180 (2) of the Corporation law. It is because Rose made her judgment not in good faith for the proper purpose. On the other hand, she did not inform herself of the matter, considering the limited time Sam gave them. Sam did not give her enough time to obtain enough information about the new premise. Other than that, she had no confidence in considering the matter. Lastly, she did not rationally believe that the judgment was in the interest of the company because they were forced into it without being given enough time to consider other alternatives.

 

Judgment Rule

The rationale of the Business Judgment Rule is to protect directors who work for the best interest of the company in honest and good faith. Directors act as the trustees of the company; hence, it is their liability to work for corporation's best interest. The significance of Judgment rule is that it protects directors against the derivative actions from the shareholders if particular conditions are not met. However, this rule does not give directors many opportunities to avoid the consequences of poor company decision making. For example, a director who has not participated in the management of the company will also be involved in the breach of that duty, whether the director is aware of the breach or not.  

Download Sample

Get 100% money back after download, simply upload your unique content* of similar no. of pages or more. We verify your content and once successfully verified 100% value credited to your wallet within 7 days.

Upload Unique Document

Document Under Evaluation

Get Credits into Your Wallet

*The content must not be available online or in our existing Database to qualify as unique.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Business And Corporation Law: Robert And EY Pty Ltd. Retrieved from https://myassignmenthelp.com/free-samples/business-and-corporation-law-robert-and-ey-pty-ltd.

"Business And Corporation Law: Robert And EY Pty Ltd." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/business-and-corporation-law-robert-and-ey-pty-ltd.

My Assignment Help (2018) Business And Corporation Law: Robert And EY Pty Ltd [Online]. Available from: https://myassignmenthelp.com/free-samples/business-and-corporation-law-robert-and-ey-pty-ltd
[Accessed 09 July 2020].

My Assignment Help. 'Business And Corporation Law: Robert And EY Pty Ltd' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/business-and-corporation-law-robert-and-ey-pty-ltd> accessed 09 July 2020.

My Assignment Help. Business And Corporation Law: Robert And EY Pty Ltd [Internet]. My Assignment Help. 2018 [cited 09 July 2020]. Available from: https://myassignmenthelp.com/free-samples/business-and-corporation-law-robert-and-ey-pty-ltd.


At MyAssignmenthelp.com, we understand that when students get stuck with tough assignments, they look for affordable services. To assist students with complex assignments, we have built a team of skilled cheap essay writers. MyAssignmenthelp.com has become one stop solution for all students who often look for answers related to their search similar to do my essay at the cheap rate or who can write my essay at affordable prices. Students prefer hiring us as we have the best provisions to render services related to do my essay online at a reasonable rate.

Latest Management Samples

ISYS1055 Database Concepts For Decomposition And Functional Dependency

Download : 0 | Pages : 3
  • Course Code: ISYS1055
  • University: RMIT University
  • Country: Australia

Answer: Answer to Question 1: The candidate key for the doctor table is Rego. The candidate key for Patient Table is ID. The appointment table has candidate key, ID. The tables are already in third normal form. All the attributes in the database are atomic. Each of the tables has primary key. There is no non-functional dependency or transitive dependency. Answer to Question 2: Functional Dependency: The given custID has been presented as ...

Read More arrow Tags: Australia Melbourne Accounting Accounting theory and accountability University of Melbourne 

ACC203 Management Accounting Method

Download : 0 | Pages : 10
  • Course Code: ACC203
  • University: Elite Educational Institute
  • Country: Australia

Answer: 1. Explaining how the management accountant can help contribute design and operations of the new management accounting system for the new hospital: Being the management accountant relevant skill is needed by the individuals for adequately conducting operations. The same skills of a management accountant can help in designing and operating the new management accounting system for the new hospital. In addition, the management accounting...

Read More arrow

HI6026 Audit, Assurance And Compliance For Australian Security Exchange

Download : 0 | Pages : 9

Answer: Introduction Auditing is the process to examine the financial statements of the business entities in order to find out any material missstements in them. While auditing the statements, the responsibility of the auditors is to take into consideration the major risks of material misstatements and to take necessary steps to reduce them. On the other hand, Australian Security Exchange (ASX) has provided the companies with eight principles i...

Read More arrow Tags: Australia Campsie Management University of New South Wales 

NUR4232 Protecting Your Clients In The Conduct Of Research

Download : 0 | Pages : 21
  • Course Code: NUR4232
  • University: National Center For Biotechnology Information
  • Country: United States

Answer: Introduction Evidence-based models use a process for framing a question, locating, assessing, evaluating, and repeating as needed. PICO (T) elements include: Problem/Patient/Population, Intervention/Indicator, Comparison, Outcome, and (optional) Time element or Type of Study. The question for this study is as follows: In patients aged 60 years and above (P), what is the effect of being administered the influenza vaccine (I) on contra...

Read More arrow

CP5639 Conceptual Modelling For Attributes And Different Relationships

Download : 0 | Pages : 5
  • Course Code: CP5639
  • University: James Cook University
  • Country: Australia

Answer: Discussion This report discusses the solution for the conceptual modelling of the Joanne Myers Apartments. Conceptual modelling involves following a few steps in order to achieve the final conceptual model for the database. The first step is thoroughly studying the case study to get information on all the entities and their attributes and different relationships that exist between the entities. After identifying the entities, the next...

Read More arrow
Next
watch

Save Time & improve Grade

Just share Requriment and get customize Solution.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,358,337

Orders

4.9/5

Overall Rating

5,081

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

285 Order Completed

99% Response Time

Eugene Baranowski

MBA in Supply Chain

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1896 Order Completed

95% Response Time

Herman Berens

MSc in Psychology

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2279 Order Completed

97% Response Time

Zachary Perez

PhD in Computer Science and Information System

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

453 Order Completed

98% Response Time

Howard Asuncion

LLM in Criminal Law

London, United Kingdom

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

I really got good marks in that assignment, I wish you guys keep working like that to solve student problems with reasonable price. Thanks wkjkljtwoitqw ewrwiouie weu quie weuqwueit

flag

User Id: 401482 - 09 Jul 2020

Australia

student rating student rating student rating student rating student rating

Great work, i will recommend you to my friends and surely use your service again. Great references and APA format.

flag

User Id: 81173 - 09 Jul 2020

Australia

student rating student rating student rating student rating student rating

Worest report, they didn’t know the anything. At least they don’t read the template and waste of money and time

flag

User Id: 451873 - 08 Jul 2020

Australia

student rating student rating student rating student rating student rating

GOOD SERVICE BUT NEED TO WORK ON TIME LIMITS. THAT\'S IT. JUST NEED TO SUBMIT ON TIME.

flag

User Id: 283077 - 08 Jul 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?