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Answer: Introduction A contract is an agreement between the parties which is enforceable legally in the courts. There are several provisions of law which governs how the terms related to the contract would operate. A contract consists of a set of provisions which are known as contractual terms. The weightage of such terms are not equal as one term may have a more significant consequence as compared to the other in relation to their brea...Read More
Answers: 1. If any person wants to carry out his business in the form of a company, then, it is necessary that the registration or incorporation requirements of such country must be met. In Australia, the Corporation Act 2001 and the guidelines laid down by ASIC provides with the steps that must be accomplish in order to establish a corporate entity. (Malbon & Bishop, 2006). A company is of great significance as it is treated as a ...Read More
Answers: Law The applicable law in the given situation is tort of negligence for which relevance to Civil Liability Act 2003 is imperative. For establishing the existence of negligence tort, the plaintiff broadly needs to prove the following three conditions. The defendant has a duty to care towards the plaintiff on account of the neighbor relationship existing between the two as the plaintiff may be adversely impacted on the choices of acti...Read More
Answer: Introduction: The capital maintenance doctrine refers to a legal principle whereby a company is not supposed to engage in activities that will result to a reduction of its capital. One of these activities is providing financial assistance to other companies. Section 256A of the corporation act prohibits this action if it would result to the inability of the company to meet its financial obligations, which includes financial its daily ...Read More
Answer: Introduction This report is about the small business which is V-Engines owned by Homer. He works on the designing and building engines for other companies. Due to increase in orders Homer leased a large warehouse with offices. Now he is not sure whether he should continue to run as a sole trader or to obtain a limited liability. He has two people working with him on a self-employed basis in the workshop. He needs two more plus one for...Read More
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