Answer all questions below
Use ILAC format to answer the questions. Question 1: what Is Member remedles (10 marks): (chapter 17 of Understanding Company Law) Question 2: what Is Director's dutles (20 marks): (chapter 13 of Understanding Company Law) Key duties 5180, S181, 5182, 5183, 5184 and $588G of the Corporations Act You will be asked to advise ASIC have there been breaches of the Corporations Act in the above circumstances. You must look at that for each of the five directors (2 executive directors and three non- executive directors). The company is in financial difficulty that is related in terms how the directors should be responding to that. whether the major response to represent the breach or not. Nominate Type of breach. Discuss the provision that has been breached. Question 3: Corporate Contracting (10 marks): Can the bank enforce the mortgage contract against the company? Section 129 of the Corporations Act in instances where a Director has misrepresented a co-signatory.TRUE OR FALSE Identify whether the statement is true or false. 1. Contracts with minors are only voidable if the minor agrees to buy text books for school. 1 points A) True O B) False 2. Vivian approached Yvette about the sale of a sapphire bracelet at $375. Yvette says she will think about this. The next day Yvette hands $370 to Vivian, Vivian takes it and responds that she will bring the bracelet for Yvette 1 points tomorrow at lunch. However, during that night Vivian died. Here a contract was not formed. O A) True B) False 3. Acceptance could be evidenced by the offeree carrying out a duty detailed by the offeror. 1 points A) True ( B) False 4. An 18-year-old cannot enter into a contract if he has a criminal record. 1 points O A) True O B) False 5. Companies and partnerships are similar because the both have legal persona. 1 points A) True O B) FalseAccording to China's Company law, who of the following persons could be eligible for appointment as a director, supervisor or senior manager of a company? A. A person who has been convicted crime of corruption B. A physical disabled person who has full civil capacity C. A former director of a company which has been declared bankrupt where he was personally responsible for the bankruptcy D. A person who has significant unpaid debts. 8. Which of the following FIE forms is not a legal person? A. CJV B.EJV soon mug rancor C. Branch office D.IHC how of viilids and beat vilsing aved of bermilos ed or ontolyons set . 9. According to China's company law, a company may not purchase its own shares in which of the following circumstances! A. to reduce the registered capital B. to merge with another company that holds its shares C. to reward the staff of the company with shares of D. to escape some tax Page 2 7 pages in total\fAmy has collected Shaker-style furniture for a number of years. After she lost her job, she decided to start trading in Shaker furniture. Initially, she did all her trading on-line, but after a year decided to rent a store and start dealing directly with the public. Demand has exceeded all her expectations, and she is looking to expand her business. While she has a wealth of knowledge about Shaker furniture and is obviously very capable as a salesperson, she has no spare money to put into the business. + Amy thinks she is currently operating as a sole trader, and has heard about companies and partnerships, but does not know much about them. + a) Amy asks you to explain to her the key differences between a sole trader, a partnership and a company.+ b) Which structure would you recommend for her growing business?+ Would your recommendation change, if+ c) Amy had a son in the final year of his marketing degree and who was keen to be involved in the business once he graduated?+ + d) Amy will need to borrow $100,000 to expand the business in the near future?+
