Question Completion Status: QUESTION 1 In Macaura v Northern Assurance Ltd (1925), the sale of Macaura's assets to the company resulted in: a. Macaura ceasing to be the legal owner of the assets and to have an insurable interest. b. Macaura ceasing to be the legal owner of the assets but continuing to have an insurable interest. c Macaura continuing to be the legal owner of the assets and ceasing to have an insurable interest. d. None of the above are correct. QUESTION 2 Which of the following statements is the best description of the significance of the decision in Salomon v Salomon & Co Ltd (1897)? a. The notion of limited liability should not apply to corporations owned and operated by a single person. b. The concept of separate legal personality cannot be used by a sole trader to avoid liability to creditors. c. A shareholder who is also involved in the management of the company is not entitled to the benefit of limited liability. d. The benefits of incorporation are capable of extending to small private companies. QUESTION 3 Which of the following sections of the ASIC Act 2001 (Cth) empowers ASIC to initiate civil action on behalf of a company? a. Section 48 b. Section 35. Ciel Sare and Submit to sound submit. Click Sare All Ames to callawers