Solution Library

Enforcing Pre-incorporation Contracts Entered by Company

QuestionWill is a keen student of business and wants to start a new company specializing in re-cycling. He is unsure of the legal status of a pre-incorporation contract but prior to registering his new company Wills Re-cycling Pty Ltd he signs a contract to purchase a one hectare piece of land near ... Read More

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Forcefully Changing Proprietary Company To Public Company

QuestionWhen would a proprietary company consider becoming a public company? Can a proprietary company be forced to change its status? Summary The question belongs to Law and it discusses about a proprietary company becoming a public company. The question discusses about such a proprietary compan ... Read More

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Directors’ Consideration for the Rights of Outsiders in a Company

QuestionDirectors need to consider a variety of interest groups who are affected by their decisions, including some outsiders to the company. Which outsiders may have rights against a company? SummaryThe question belongs to Law and it discusses about the rights of outsiders on a company. The quest ... Read More

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Director’s Right in Issuing Shares and Debentures of a Company

QuestionGerry, a director of a proprietary company has authorized the issue of $300,000 worth of debentures to 5 different lenders. Is he permitted to do this? Explain. Summary The question belongs to Law and it discusses about the right of director of a company to issue debentures to lenders. Th ... Read More

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Rules in a Single Person Company

Question A company can normally either use the replaceable rules and/or construct a constitution. However, what is the situation with a single person company? SummaryThe question belongs to Law and it discusses about the rules and regulations that can be followed and valid under a single person c ... Read More

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How Shareholders Can Obtain Information From the Company Against Its Will

Question How might disgruntled shareholders gather information about a company, and seek answers from the company, against the company's will? Summary The question belongs to Law and it discusses about how disgruntled shareholders can obtain information about the company, against it’s wil ... Read More

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Statement Review Directors’ Duty is to Manage Company and Not to Answer Individual Shareholders

Question Directors have a primary duty to manage the company and not to answer to individual shareholders.' Summary The question belongs to Law and it discusses about a statement where the primary duty of the directors is to manage the company and not to answer to individual shareholders. The s ... Read More

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Statement Review Can the Law Pierce the Corporate Veil

QuestionIt is possible for the corporate veil to be pierced by statute.' Explain. SummaryThe question belongs to Law and it discusses about a statement which poses a question about the corporate veil being pierced by stature or law. The solution explains this statement in detail.Total Word Count 26 ... Read More

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Do directors have duties to individual shareholders?

QuestionDo directors have duties to individual shareholders? . SummaryThe question belongs to Law and it discusses about the director’s duties towards individual shareholders or towards the entire company. The solution discusses this in detail.Total Word Count 334 ... Read More

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Legal Situation of Single Person Company With Constitution

Question What is the legal situation of a single person company which has a constitution?   Summary The question belongs to Law and it discusses about the legal situation of a single person company with a constitution. Total Word Count 60 ... Read More

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New Directors’ Knowledge About Company’s Performance and Solvency

Question New directors must ask questions about the performance of the company and its solvency. Explain with reference to relevant cases and statute. Summary The question belongs to Law and it discusses statement about the responsibility of director to ask questions about the performance of a c ... Read More

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Remedies Against Company Refusing to Appoint Director

QuestionBill is the managing director and a member of Biomed Ltd. The constitution of Biomed Ltd provides, as follows:  "Bill shall be employed as Biomed Ltd's Chief Medical Officer for a period of five years after incorporation at a salary of $150,000 per annum." Bill informs you that ... Read More

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