Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Read the following scenario and answer the questions that follow: Okafo intends to incorporate Okafo s Coffee Company on 1 June 2 0 2 3

Read the following scenario and answer the questions that follow:
Okafo intends to incorporate Okafos Coffee Company on 1 June 2023. Okafo sees a special on coffee at Smile Coffee Co. and wants to buy the coffee for the company he wants to register. Okafo goes to Smile Coffee Co. and explains to them that he wants to conclude a contract for a bulk coffee order for the company that he intends to register. Okafo indicates that he acts on behalf of Okafos Coffee. Smile Coffee Co. agrees to the contract and subsequently Okafo, in his representative capacity of the company, concludes the written contract with Smile Coffee Co.
Source: Fritz, C.2024
3.1 What type of Corporate Law topic is evident from the scenario? (1)
3.2 Briefly explain if above scenario is applicable in the common law. (2)
3.3 Briefly explain if above scenario is applicable in the Companies Act (1978 & 2008).(2)
3.4 Briefly explain what the requirements are for the Corporate Law topic in this scenario. (5)

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

ISE Fundamental Managerial Accounting Concepts

Authors: Thomas P. Edmonds, Christopher Edmonds, Mark A. Edmonds, Philip R. Olds

10th Edition

1265045925, 9781265045920

More Books

Students also viewed these Accounting questions