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LAW00004 Company Law

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Questions:

(i) In the context of corporate law, discuss the following statement and explain the fiduciary concept in detail: 

“Since the decision of the High Court in Hospital Products Ltd v United States Surgical Corporation [1984] HCA 64, it has been accepted in this country that a fiduciary duty arises out of an undertaking, express or implied, by the person incurring such duty.”[ Oliver Hume South East Queensland Pty Ltd v Investa Residential Group Pty Ltd [2017] FCAFC 141 [33] (Dowsett J).]

(ii) Discuss examples that demonstrate this fiduciary concept in each of the following areas, referring to case law and statute as necessary: 

(a)The general law (as it relates to the formation of a company); 
(b)A Partnership Act (in an Australian State or Territory); AND 
(c)The Corporations Act 2001 (Cth). 
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