Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hugo is in negotiations with Go Carts Pty Ltd to supply ball bearings for their production line. He has been talking and exchanging emails with

Hugo is in negotiations with Go Carts Pty Ltd to supply ball bearings for their production line. He has been talking and exchanging emails with Jerry the CFO of the company. Jerry orders a large supply of bearings from Hugo's business and Hugh duly delivers the bearings. Payment is not forthcoming, and Hugh is getting no joy from the CFO who won't return calls or emails. Answer these questions. Use PIRAC to help you scaffold your answers.

a. What type of company is Go Carts Pty Ltd?

b. What authority might the CFO have to act for the company?

c. Does 126 of the Corporations Act apply here?

d. Would it make any difference if Hugo had been dealing with Leonard a director of the company instead of the CFO?

e. What if Leonard is a director but the Company Secretary never filed the notice of appointment with ASIC. Does that make any difference?

f. Would it make a difference if Hugh knew (via school pick up chatter) that Jerry may have been dismissed as CFO during the contract negotiations?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

More Books

Students also viewed these Law questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago