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In September 2021, Dair agrees to purchase a boutique fashion retailer that occupies shop frontage in Sydney CBD. On the purchase contract, Gavin places the
In September 2021, Dair agrees to purchase a boutique fashion retailer that occupies shop frontage in Sydney CBD. On the purchase contract, Gavin places the company seal and his signature, but Troy refuses to co-sign the contract, claiming that he won't be responsible for this". Question 1: Answer all parts A, B, C and D (25 marks total). A). Identify which sections of the Corporations Act 2001 (Cth) gives members the power to remove existing directors and appoint new directors in public companies (2 marks). B). Outline the requirements for being appointed as a director. Refer to the relevant sections of the Corporations Act 2001 (Cth) in your answer (3 marks). C). Discuss the consequences of breach of constitutional objects for the Truth and its participants, making reference to the relevant sections of the Corporations Act 2001 (Cth) (10 marks). D). Has the purchase contract been executed correctly by Gavin according to the Corporations Act 2001 (Cth)? If not, will the purchase contract still be legally enforceable against Dair? (10 marks)
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