Financial Investment consultants ltd (FIC) operates an investment counseling business specializing in advising its clients on how to invest their retirement benefits. While attending a conference, Abe, one of FICs non-executive directors, introduced himself to Michelle, the managing director of Client Contact Pty Ltd (CC), a direct marketing company, and handed her his business card. Michelle tole Abe that her company was negotiating an agreement to sell its innovative direct financial marketing system to FICs main competitor. Abe was particularly impressed with CCs direct financial marketing system. He was of the opinion that FIC should move quickly and acquire the system before it went to FICs competitor. Abe offered Michelle $3 million for the system. Michelle gave Abe a sale agreement which he signed, Abe, for and on behalf of FIC. Phillip, FIC managing director, recently learned what Abe had done. He was not as enthusiastic as Abe about the direct financial marketing system and was of the opinion that FIC was not bound by the agreement Abe signed, as the matter had not been approved by Phillip or the full board of FIC. Explain whether Client Contact Pty Ltd can enforce sale agreement against Financial Investment Consultants Ltd. Would your answer be different if the agreement had been entered into by Phillip, managing director, for and on behalf of Financial Investment Consultants Ltd

Or Sherlyn, the marketing manager of Financial Investment Consultants Ltd.

Note: USE IRAC FORMAT FOR THIS CASE STUDY.