1. Wayne, Erin, Alan and Kirk are all ex-police officers and have decided to start a private security business. Due to tax and ownership issues and the obvious benefits associated with having limited liability, their lawyer recommends that they should register a company for the business. They agree and instruct their lawyer to register a company, to be called WEAK Security Pty Ltd. It is agreed that Wayne, Erin, Alan and Kirk will each be allotted 100 ordinary shares in WEAK Security Pty Ltd. After the company is registered, they decide to employ Rodger as a receptionist in the office. Rodger is given strict instructions that he is not to enter into contracts on behalf of the company. Wanda works in used car sales and is a good friend of Rodger. Rodger tells Wanda about his new position at WEAK Security Pty Ltd and mentions that he has been instructed not to enter into any contracts on the company's behalf. Wanda tells Rodger that she has been trying to sell a truck and it would be perfect for the security business. Wanda shows Rodger the truck and lets him drive it. Rodger agrees that the truck would be a great addition to the security business and thinks the price Wanda is asking is very reasonable. Rodger agrees to buy the truck on behalf of WEAK Security Pty Ltd. Can Wanda rely on any of the assumptions in s 129 of the Corporations Act in order to enforce the contract against WEAK Security Pty Ltd? 2.Volcano Pty Ltd (Volcano) operates three surfing stores in Queensland. On 8 August 2016, Gao was appointed to the position of managing director of Volcano for a period of two years. A return was lodged with ASIC indicating his appointment as a director on that date. Gao was not formally reappointed after 8 August 2018, but he has continued to act as managing director. The terms of Gao's appointment, which were set out in a contract between him and Volcano and were also in Volcano's constitution, included a restriction to the effect that he was not to commit the company to borrowing transactions in excess of $20 000. Any such transaction was to remain subject to the approval of the board of directors. On 20 March 2019, Gao, purportedly acting on behalf of Volcano, signed a loan contract with Fanning Bank, pursuant to which the bank agreed to lend the company $30 000 in order to establish a website for motorbike enthusiasts. The transaction was not referred to the Board. The bank was not aware of either: the contents of Gao's contract, or the company's constitution. The Board has since discovered the loan contract and has stopped all repayments on the loan. The bank has called in the loan and is suing Volcano for the principal, together with all outstanding interest. A, What do you think the outcome of this case will be? B, Would the outcome of this case be different in each of the following scenarios? The loan was for the refurbishment of two of Volcano's surfing stores. The bank had a copy of the company's constitution. The bank was aware the Board had not passed a resolution approving the transaction. 3. Assume a section in a piece of work health and safety legislation provides the following. A person shall not knowingly leave exposed live electrical wire on any construction site. Any person breaching this provision will incur a penalty of $1000. The legislation defines the term 'person' to include a company. Ultrabuild Ltd is a multinational construction company and is in the process of building a new building on the Rural University campus. Peta is an apprentice electrician employed by Ultrabuild Ltd. On a Friday afternoon she was wiring some power points on the building site when her friend Beau called her and asked her to meet him at the pub for a beer. Peta really wanted to go, so she dropped her tools and went to the pub. She knew she had left some live wires hanging out of the wall, but she thought no one else was on the construction site and she would go back first thing the next morning and complete the job. A, Has Ultrabuild Ltd breached the legislation? In real life, how do you think the legislation would be drafted differently? B, What if someone was injured as a result of the exposed wires? Would Ultrabuild Ltd be liable