On 18th January 2021, Down Under Pty Ltd ("DU"), a large seller and distributor of bakery products and ingredients based in Sydney, entered into a sale and purchase contract of 2,300 packages of "Uncle Roger's Kaya Jam" with a manufacturer based in Singapore, Jim & Jam Pte Ltd (Jim & Jam). The contract was based on FOB terms at the price of US$30,000.

Following this, on 20th January 2021, DU entered into a voyage charter party with Forever Friendship Pte Ltd ("Forever Friendship") for a ship Forever Harmony to carry these 2,300 packages of "Uncle Roger's Kaya Jam" from Singapore to Sydney. The charter party contained a "Law and Jurisdiction" clause which states: "This charter party shall be governed by Australian law. Any dispute arising out of or in connection with this charter party, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by a court in Australia". However, Forever Friendship has never been a true owner of the ship Forever Harmony. Instead, Forever Friendship acquired the ship through a three-year time charter party with Bright Fortune Limited ("Bright Fortune"), a ship-owning company based in the United Kingdom. The time charter party between Forever Friendship and Bright Fortune contained a "Law and Jurisdiction" clause as follows: "This charter party shall be governed by and construed in accordance with English law and any dispute arising out of or in connection with this charter party, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in London. The arbitration shall be conducted in accordance with the London Maritime Arbitrators Association (LMAA) terms current at the time when the arbitration proceedings are commenced".

On 27th January 2020, Jim & Jam delivered 2,300 packages of "Uncle Roger's Kaya Jam" to the ship Forever Harmony at the Port of Singapore. The bills of lading dated 27th January 2020 were issued and signed by the Master of Forever Harmony. Clause 1 of each bill of lading states: "Terms and conditions of the charter party dated [ ], including its jurisdiction / arbitration clause, are incorporated into this bill of lading". In Box 4 of the bills of lading states: "Shipment in good order and condition. The cargo must be carried at 18.3 degree Celsius throughout".

The ship Forever Harmony arrived at the port of Sydney on 24th February 2021. DU brought the bill of lading to receive the shipment. Upon examination by an authorised representative from DU, however, all these 2,300 packages of "Uncle Roger's Kaya Jam" were in damaged condition. According to the joint survey reported from a surveyor jointly appointed by DU and Jim & Jam, the damage was caused by the fact that all these 2,300 packages of "Uncle Roger's Kaya Jam" were stored at the temperature of -18.3 degree Celsius throughout the voyage. This was because the Master mis-read the information on the front page of the bills of lading and the Master also mis-read the instruction sent to him by email from Jim & Jam.

DU commenced proceedings against Bright Fortune before the Federal Court of Australia. Bright Fortune, on the other hand, is seeking an anti-suit injunction before the High Court in London in an attempt to restrain DU from pursuing the claim before the Federal Court of Australia arguing that DU should participate in the arbitration in London.

Question 1

Discuss with sound reasoning and examples from case laws in support whether you think the High Court in London will likely grant an anti-suit injunction and whether DU should be bound to arbitrate in London.

Question 2

Examples from case laws in support whether you think Bright Fortune will be liable for damages to these 2,300 packages of "Uncle Roger's Kaya Jam".

QUESTION 6 The following information pertains to Benedict Company. Assume that all balance sheet amounts represent average balance figures. Total assets: $300,000 Common stock: $125,000 Retained earnings: $25,000 Sales Revenue: $100,000 Net Income: $32,000 Common stock shares outstanding:4,000 Common dividends: $5,000 What is the return on common stockholders' equity ratio for Benedict? 25.6% 13.3% O 21.3% 10.79%A corporate charter species that the company may sell up to 40 million shares of stock. The company sells 32 million shares to investors and later buys back 13.0 million shares. The number of authorized shares after these transactions are accounted for is: Multiple Choice 0 2? million shares. 0 19 million shares. 0 32 mil lion shares. 0 40 million shares. QUESTION 49 Which of the following is true about marketing messages and social media? a. Traditional marketing messages are bottom up. Ob. Social media marketing messages are not like traditional marketing messages. c. Social media messages are typically bottom up. d. Traditional marketing messages are top down, similar to social media messages e. Social media follows traditional marketing messages and how they are distributed QUESTION 50 What do users say is their primary reason for using social media? O a. Reconnecting with school mates Ob. Reconnecting with old friends O c. Promoting their own goals and objectives O d. Sharing information about themselves O e. Staying in touch with family and friendsQUESTION 28 Is a decision by a director to exercise a power for both a proper purpose and an improper purpose a breach of duty? O a. Yes, always. Ob. Yes, but only if, but for the improper purpose, the director would not have exercised the power. O c Yes, but only if, but for the proper purpose, the director would not have exercised the power. O d. No. QUESTION 29 Which of the following is not one of the requirements that must be satisfied before a director can rely on the Corporations Act 2001 (Cth)'s 187 to avoid liability for breach of the duty to act in the best interests of the company? O a, The company is a wholly owned subsidiary. O) b. The constitution of the company expressly authorises the director to act in the best interests of the parent company. c. The director acts in good faith in the best interests of the parent company. O) d. The company is insolvent at the time the director acts or becomes insolvent because of the director's act. QUESTION 30 The statutory business judgment rule allows the directors the benefit of a presumption that they are not in breach of which of their duties? C a. The duty to act in good faith in the best interests of the company. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Surve MacBook AirA corporate charter specifies that the company may sell up to 25 million shares of stock. The company sells 17 million shares to Investors and later buys back 5.5 million shares, The number of authorized shares after these transactions are accounted for is' Multiple Choice O 17 million shares O 25 million shares O 12 million shares. O 20 million shares