What is the relevance of liquidated damages clause

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Reference no: EM131068629

Assignment Questions-

Choose either Question 1 or Question 2.

1. Directors of companies have an obligation to act in the best interests of the company. Elaborate on how the court approaches this duty and explain whether the corporations law in Australia has made this duty onerous.

Resource-

(a) Reading: Chapter 16 in the textbook. Textbook - AUSTRAKIAN GUIDE TO LEGEL CITATION THIRD EDITION.

(b) Journal articles

- Jason Harris, Anil Hargovan, Janet Austin, 'Shareholder Primacy Revisited: Does the public interest have any role in statutory duty' (2008) 26 Company and Securities Law Journal 355;

- E Klein, J du Plessis, 'Corporate donations, the best interest of the company and the proper purpose doctrine' (2005) 28 The University of New South Wales Law Journal 69;

- Rosemary T. Langford, 'The distinction between the duty of care and the duties to act bona fide in the interests of the company and for proper purposes' (2013) 41(6) Australian Business Law Review 337;

- Rosemary T. Langford, Ian M. Ramsay, 'Directors' duty to act in the interests of the company: Subjective or Objective? [2015] 43(2) Journal of Business Law 173.

[https://law.unimelb.edu.au/__data/assets/pdf_file/0005/1709501/4-Directorsdutytoactintheinterestsofthecompany-subjectiveorobjectiveJBL20152.pdf]

2. What is the relevance of liquidated damages clause and how does it differ from contractual penalties? Do you think contractual penalties curbed contractual freedom? Why?

Resource

(a)Reading: Chapter 9 in the textbook.

(b) Journal articles

- Anthony Gray, 'Contractual Penalties in Australian Law after Andrews: An Opportunity Missed' (2013) 18(1) Deakin Law Review 1;

[https://www.austlii.edu.au/au/journals/DeakinLRev/2013/1.pdf]

- Andrew Ham, 'The Rule Against Penalties in Contract: An Economic Perspective' (1990) 17 Melbourne University Law Review 649; (https://www.austlii.edu.au/au/journals/MelbULawRw/1990/19.pdf)

- Sirko Harder, 'The Relevance of Breach to the Applicability of the Rule againstPenalties' (2013) 30 Journal of Contract Law 52.

https://www.abc.net.au/news/2014-08-12/bank-fees-class-action-lodged/5664382

https://www.abc.net.au/news/2015-04-08/anz-bank-wins-appeal-against-credit-card-fees-decision/6376834

Attachment:- Data.xls

Reference no: EM131068629

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