Reference no: EM13327787 , Length: 1500 Words
Question One
John is the factory manager of Alpha Ltd, a company that manufactures computer keyboards. John is absent on annual leave when Mickey visits the factory. Mickey is a sales representative for Solder Ltd a supplier of soldering equipment. Mickey asks the receptionist for the factory manager but as John is absent, Harry (a clerk in the factory office) is called to reception.
Harry just introduces himself by his name. Mickey informs Harry about his company's products and Harry is so impressed he places an order for a large number of soldering irons.
The soldering irons are delivered after John returns from leave and he immediately rejects them as the manufacturing process is soon to be automated using robots. Solder Ltd is informed that there is no agreement as Harry did not have authority to enter into the contract on behalf of Alpha Ltd.
REQUIRED:
Analyse and discuss the above facts examining the possibility that the contract may or may not be enforceable. Your answer should include an analysis of any types of authority that could be relevant to these facts and any cases or sections of the Corporations Act that would be applicable.
Question Two
Larry is instructed by his employer Huge Ltd, to register a company which is to sell educational assistance to commerce students. Larry is to become Managing Director of the new company. Before the new company (Lifesaver Pty Ltd) is registered, Larry signs a purchase agreement on behalf of the proposed company to buy educational equipment.
Lifesaver Pty Ltd is later registered and at its first directors' meeting the ratification of Larry's purchase is considered. The other directors consider the equipment Larry purchased is unsuitable and refuse to approve the transaction.
REQUIRED:
(a) How does corporate law classify the role undertaken by Larry leading up to the registration of Lifesaver Pty Ltd? What are the duties that such a person owes and to whom are they owed?
(b) What is the effect on Larry, and on Lifesaver Pty Ltd, if the directors decide not to ratify Larry's lease.
(c) Describe the sources from which a company of Lifesaver's type can raise funds. In your answer include any limitations that the Corporations Act imposes on proprietary company fundraising.
(d) What additional fundraising opportunities would be available if the company was "Lifesaver Ltd"?
Question Three
Figment Ltd wishes to raise $11 million through a share issue but does not want to prepare a prospectus. The company secretary has advised the board of directors that to raise such a large amount of money, the company has no alternative but to prepare a disclosure document which is the same as a prospectus. Discuss the company's options and in your discussion include whether the company secretary's advice is correct. Use the CA to support your answer.
What magnitiude of acceleration does it have
: Two forces, 375 N at 11deg and 323 N at 25deg are applied to a car in an effort to accelerate it. If the car has a mass of 3730kg, what magnitiude of acceleration does it have
|
Would prototyping have helped the primis team
: What kinds of questions might McGraw-Hill have asked as part of determining the feasibility of the Primis idea? Be sure to address the needs of the organization, end users (sales reps., faculty, students), IT specialists, and the groups involved i..
|
What is the present value of bond that matures in 2 years
: What's the present value of a $1,000 bond that matures in 2 years and pays coupons at the rate of 2% per eyar> ( one coupon every 6 months) Assume that the risk free interest rate is 3% throughout the 3 year period.
|
Explain the two methods for advantages and disadvantages
: Does GLC analysis allow you to skip the IR analytical method? Compare the two methods for advantages and disadvantages.
|
How does corporate law classify the role
: How does corporate law classify the role- prepare a disclosure document which is the same as a prospectus. Discuss the company's options and in your discussion include whether the company secretary's advice is correct
|
Explain a black precipitate remaining from the seperation
: A black precipitate remaining from the seperation of Cr^3+ and Fe^2+ ions is dissolved in HCl and HNO3. Some NH3 is added, followed by several drops of dimethylglyoxime. (a). A colorless solution results, What do you think happened.
|
Find what is the simple interest rate for the account
: Starting with $2,000 on March 3, you deposit $500 23 days from March 3, withdraw $800 69 days from March 3, and deposit $600 121 days from March 3. If your final balance is $2,458 150 days from March 3
|
Perform a variance analysis of the massage
: Suppose you are the senior controller for Spine Line and you plan to perform a variance analysis of the massage chairs manufactured to determine if the standards are being met.
|
What is the total amount of interests for 20 years
: You take a $5,000 loan with an interest rate of 10% and pay off a constant principal portion of $200 every year. Use the arithmetic progression.
|