Answer the problems below
Use ILAC format to answer the questions Question 1: what is Member remeces {1G marks}: [chapter 1? of Understanding Company Law] Question 1 what is Director's duties (EC! marks}: {chapter 13 of Understanding Company Law} ME}:r duties 5130, 5131, 513; 5133, 5134 and 55336- o'Ft'l're Corporaticms Act 'r'bu will be ashed to advise ASIC have there been breaches of the Corporations Act in the above circumsta nces. 'rbu must look at that for each ofthe five directors {2 executive directors and three non executive crectors}. The compan}:r is in nancial difcultytha't is related in terms howthe directors should be responding to that. wl'ietherthe major response to represent the breach or not. Nominate Type of breach Discuss the provision that has been bread'red. Question 3: Corporate Contracting [10 marks}: Can the bank enforce the mortgage contract against the company"? Section 13 ofthe Corporations act in instances where a Director has misrepresented a cosignatory. Alldentify and explain the key financial, legal and regulatory influences which impact on financial statements produced and published by Hong Kong Public Limited Companies and Partnerships and Explain how the key legal and regulatory influences are relevant to the different users of financial statements.(PLZ GIVE THE REFERENCE, IF YOU TAKE THE INFORMATION FROM INTERNET IN RESPECT OF HONG KONG) B) Considering the annual accounts of sole traders, partnerships and public limited companies (plcs), identify for each of these any compulsory presentational format or publication requirement and discuss the main aspects of the regulatory framework which must be observed when reporting these accounts. PLZ WRITE IN DETAILTRUE 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 total1 . which is not a legislative body of the People's Republic of China? A. NPC C. CCA B. SCNPC D. The State Council 4. Who of the following persons have sufficient capacity to settle a contract? A. Minors B. Mentally incompetent persons C. University students shove 20 years old D. Intoxicated persons 5. In which of the following circumstances the contracting party has no excuse for non-performance? A, flood B. earthquake C. continuous rainfall D. volcano eruption 6. Who could not be a legal representative of a company according to China's Company law? A. chairman of the BOD B, supervisor C. manager D. acting director 7. According 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 C. Branch office D.IHC 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 D. to escape some tax Page 2 7 pages in total
