Sabert Enterprises Limited was registered in 2014 and does not have a constitution. It has three directors and five shareholders. Only one of the directors, Garry Sabert, is also a shareholder.

Sabert Enterprises Limited wishes to replace its motor vehicle. Garry Sabert agrees with the company to buy it for $15,000.

Earlier Garry had talked to a car dealer, Top Dollar Motors. The dealer said it would buy the car for $20,000 cash or accept it as a trade-in for $25,000.

Under the contract between Garry and the company, it was agreed that payment of the purchase price would be delayed (with no interest) for 12 months.

Required: Advise the parties in relation to the legal issues that arise. (could you refer to New Zealand Law and legislation)