CASE STUDY

QUESTION 10.

Australian Contract Law:That from the facts above and circumstances, the issue for consideration arises is whether the Visit Victoria is under the obligation to pay the extra amount after they agreed to make $50 additional payment per day per car. That from the facts above it is prima facie established that both the parties entered into the legally enforceable agreement(Carter, 2014). Under 2-701 of Uniform Commercial Code, the remedies are given specified for the breach of the contract by any of the party. It is pertinent to mention here that the rights and obligations of both the parties could be determined by the terms and conditions of that contract. From the given facts and circumstances, there are express terms in the contract which are written in the contract at the time of signing the contract(Wright, Ellinghaus and Kelly, 2014). For the kind perusal, the express terms is defined as those terms which the parties have agreed to complete their contract. It is furthermore relevant to mention here that as per the agreed terms between both the parties, Gareth is required to provide eight cars per day at the decided rate but during the course of business it came to the knowledge of the Gareth that it results in loss to him and in this regard he informs Visit Victoria(Doris, 2014). To resolve the issue, Visit Victoria agrees to pay $50 additional for per car per day, this is known as the Collateral contract under the terms of the Australian Contract Law. The idea of collateral contract might be understand as the agreement where the amount is an entry into other contract and it is co-exists side by side with the large contract. A promise that could not exists in the principal agreement may be enforced as a collateral contract, as clearly exampled by Lord Moulton in Halibut, Symonds & Co v Buckleton: That a collateral contract usually takes the face of a unilateral contract. This promise is usually in the form of doing something in return for anything else. The offer by one party and the acceptance by the other party to the agreement is the original intention of the first contract which is the part of the record. The something in return of the collateral contract is the assurance to enter into the master agreement.

It is collateral to the master contract, but at the same time each has its individual autonomous existence, and they did not differ in respect of their possessing to the total character and status of a agreement. The collateral terms are those which could be considered during the business and the terms and conditions were of collateral agreement will be added later on(Doris, 2014). It is furthermore relevant to mention here that two essential requirements should be fulfilled to show the existence of the valid and legally binding collateral agreement. The first essential requirement is the person representing should have the intention to promise the legally binding and the second essential requirement is the person to whom represented should have entered into the main contract by the statement(Hesselink, 2015).

In the present given case, Gareth represented the Visit Victoria that due the production of cars he has to suffer loss and Visit Victoria in the expectation that their work will increase and they have no more further arrangements, agreed to pay $50 additional per day per car which forms the collateral contract as it was the intention of Gareth and the promise was the part of the main contract(Grundmann, 2011). It is furthermore relevant to mention here that it is up to the courts to hold that whether the collateral contract was in existence or not. As in the case of JJ Savage VsBlakney (1970) 119, CLR435, High Court of Australia held that the collateral contract was not in existence and the intention of the parties was not there.Australian Contract Law:That from the facts above and circumstances, the issue for consideration arises is whether the Visit Victoria is under the obligation to pay the extra amount after they agreed to make $50 additional payment per day per car. That from the facts above it is prima facie established that both the parties entered into the legally enforceable agreement(Carter, 2014). Under 2-701 of Uniform Commercial Code, the remedies are given specified for the breach of the contract by any of the party. It is pertinent to mention here that the rights and obligations of both the parties could be determined by the terms and conditions of that contract. From the given facts and circumstances, there are express terms in the contract which are written in the contract at the time of signing the contract(Wright, Ellinghaus and Kelly, 2014). For the kind perusal, the express terms is defined as those terms which the parties have agreed to complete their contract. It is furthermore relevant to mention here that as per the agreed terms between both the parties, Gareth is required to provide eight cars per day at the decided rate but during the course of business it came to the knowledge of the Gareth that it results in loss to him and in this regard he informs Visit Victoria(Doris, 2014). To resolve the issue, Visit Victoria agrees to pay $50 additional for per car per day, this is known as the Collateral contract under the terms of the Australian Contract Law. The idea of collateral contract might be understand as the agreement where the amount is an entry into other contract and it is co-exists side by side with the large contract. A promise that could not exists in the principal agreement may be enforced as a collateral contract, as clearly exampled by Lord Moulton in Halibut, Symonds & Co v Buckleton: That a collateral contract usually takes the face of a unilateral contract. This promise is usually in the form of doing something in return for anything else. The offer by one party and the acceptance by the other party to the agreement is the original intention of the first contract which is the part of the record. The something in return of the collateral contract is the assurance to enter into the master agreement.

It is collateral to the master contract, but at the same time each has its individual autonomous existence, and they did not differ in respect of their possessing to the total character and status of a agreement. The collateral terms are those which could be considered during the business and the terms and conditions were of collateral agreement will be added later on(Doris, 2014). It is furthermore relevant to mention here that two essential requirements should be fulfilled to show the existence of the valid and legally binding collateral agreement. The first essential requirement is the person representing should have the intention to promise the legally binding and the second essential requirement is the person to whom represented should have entered into the main contract by the statement(Hesselink, 2015).

In the present given case, Gareth represented the Visit Victoria that due the production of cars he has to suffer loss and Visit Victoria in the expectation that their work will increase and they have no more further arrangements, agreed to pay $50 additional per day per car which forms the collateral contract as it was the intention of Gareth and the promise was the part of the main contract(Grundmann, 2011). It is furthermore relevant to mention here that it is up to the courts to hold that whether the collateral contract was in existence or not. As in the case of JJ Savage VsBlakney (1970) 119, CLR435, High Court of Australia held that the collateral contract was not in existence and the intention of the parties was not there.

1______________ is the resolution which is ________ , at valid called _____ meeting, by special majority of the meeting.

2.______________ is a person who has ultimate control over the affairs of factory

3.______________ are the true _____ of the company.

4.Which of the following ______ is submitted by the board of directors at every AGM______________?

5.______________ guarantees its established ______

6.Where a _______ acts dishonestly to the ______ of the company. He will be held liable for ______________

7.An act which is to be _______ virus a company is ______________

8.Shelf _______ relates under Sec. ______________

9.An official _____ is appointed by the ______________

10.As per ______who can file a petition to the ______ for winding up?