LiL Chapter 2 Short Answer Question 3: Dave is a director of ABC Pty Ltd and has entered into the following contracts. Discuss whether he has bound the company into them: - Contract 1: He enters into a contract to buy 100 laptops. The company's constitution clearly states that directors do not have the power to order any computer equipment. I Contract 2: Dave deals with XYZ Ltd and he has repeatedly told them that he is the MD of the company {he has never been formally appointed as such]. The members of ABC Pty Ltd are fully aware that Dave does this and have done nothing to correct it. I Contract 3: The company was under a threat of being taken over. Daye issued more shares to existing shareholders in order to block the takeover. {Describe the operation of the Australian legal systems and processes relevant to corporations and trust law including: basic principles, current statute, common law and equitable principles)