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BUSINESS AND
ECONOMICS
Facts: Fern, Feb and Mary are friends. All have worked in
the superannuation industry for over 35 years. They are
considering setting up a company but are confused about
the different ways a company can enter into a contract and
where wondering if all three of them will have to sign
every contract or what is the most normal way for
companies to enter into contracts with outsiders.
Required: Fern, Feb and Mary have approached you
provide brief advice on the two different ways a company
may enter into a written contract. Where you can refer to
legislation and case law to illustrate.
Illustrate your answer by reference to relevant legal principles,
cases and, where appropriate, statutory provisions of the
Corporations Act 2001 (Cth).
BFA726 Lecture 13 2015
1. BFA726 - Question 1
Answer:
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1. BFA726 Question 2
Answer:
.
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BFA726 Lecture 13 2015
1. BFA726 Question 3
Spec Pty Ltd (Spec) is a property development company. It owns parcels of rural
and semi-rural land in Victoria. Bill owns 80% of the shares in Spec and controls
the composition of its board. Last year the company made a small trading loss,
but it owns a large area of land with a frontage to the Gold Coast which is valued
in the company's balance sheet at $10 million but which is expected to be worth
at least $25 million when it is developed as a golf course resort.
Bill needs cash for another project in which he is involved. He wants the board to
revalue the land at $25 million and then to distribute the $15 million excess to
the shareholders in the form of a dividend.
Advise the directors of Spec:
a) Whether they can comply with Bill's wishes without breaching
the
Corporations Act 2001 (Cth);
b) What guidelines should they follow in making their decision?
Illustrate your answer by reference to relevant legal principles, cases and, where
appropriate, statutory provisions of the Corporations Act 2001 (Cth).
BFA726 Lecture 13 2015
1. BFA726 Question 3
Answer:
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BFA726 Lecture 13 2015
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1. BFA726 Question 4
Facts: John and James wish to set up a company
to run a new retail business in Hobart. John is a
qualified lawyer and has a Masters in Professional
Accounting. James has no formal qualifications
but has worked in the retail industry for 20 years
So that both fully understand the duties of
directors imposed by both the Corporations Act
and by the common law (including of course the
fiduciary duties of directors) please provide a short
report on the directors duties and how appropriate
disclosure and the business judgment rule does
provide some protection to directors, but in some
circumstances.
Illustrate your answer by reference to relevant
legal principles, cases and, where appropriate,
statutory provisions of the Corporations Act 2001
(Cth).
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1. BFA726 Question 4
Answer:
..
BFA726 Lecture 13 2015
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1. BFA726 - Question 5
You are a registered insolvency practitioner and have been asked to prepare a
brief report on :-
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1. BFA726 Question 5
Answer:
..
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BFA726 Lecture 13 2015
2. Simones availability
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3. Exam Structure
There are two parts to the exam, you must attempt both
parts.
Part A this is worth 48 marks
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Topic
Chapter in Text
Registration
Consequences of Registration
Internal Rules
Management of Companies
Corporate Liability: Contract, Tort and Crime
Chapters 6 & 7
Chapter 8 & 9
Meetings
Members Rights and Remedies
Duties of Directors - Duty of Care, Skill and
Negligence, Duty of Good Faith and Proper
Purpose, Conflict of Interest & Disclosure
Dividends
Chapters 10 & 14
Chapters 11, 12, 13
& 16
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Chapters 21 and 22
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External Administration
Chapter 24
6&7
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Chapters 19
18
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6. Your legislation
You can take your copy of the Corporations
Act into the exam
Get to know how to use it
Where are the definitions?
Where are the main sections for each of the
topics you are studying?
What is the relevance of the material in grey?
Are there any cases in the grey material?
How will you effectively use tabs?
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Copyright Notice
Copyright
University of Tasmania, Tasmanian School of
Business and Economics
All rights reserved.
Commonwealth of Australia Copyright Regulations 1969 - WARNING
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on behalf of the University of Tasmania pursuant to Part VB of the
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copyright protection under the Act. Do not remove this notice.
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