Samuel was a promoter of a company called Edmanuals Pty Ltd. Six months before the company was registered Samuel signed a contract on behalf of Edmanuals Pty Ltd for $10,000.00 per month for 6 months for the hire of a 2005 CLS500 Mercedes Benz motor vehicle from Samuels Cars Pty Ltd. Samuel is the sole director and sole shareholder of Samuels Cars Pty Ltd. Edmanuals Pty Ltd does not want to honour the contract. Advise Edmanuals Pty Ltd. company law

2. Maree is an experienced accountant and audits the financial report of IOD Ltd. During the audit she suspects that a contravention of the Corporations Act 2001 (Cth) has occurred. What contractual duties does Maree owe IOD Ltd under the common law? What is Maree required to do if she suspects a contravention of the Corporations Act 2001(Cth)?

Giving an example, distinguish between the capacity of a company and the capacity of its agents. Your answer should highlight why the distinction is important. company law