Sarah Harris is the managing director (MD) of GreaterGain Pty Ltd (GreaterGain), a brokerage firm established in East Perth, Western Australia.

In September 2021, Sarah Harris agreed with Customer Software Solutions Pty Ltd (CSS) to provide a new software management system to replace the old system that GreaterGain has been using since its establishment in 2017. An amount of $30,000 was agreed to be paid by GreaterGain to acquire the software from CSS.

The board of directors held a meeting to discuss the business transaction with CSS and issued a resolution that GreaterGain will not be liable to make any payments for the company.

The constitution of GreaterGain in clause 22 prohibits concluding business transactions with another company that exceed $20,0000 unless an approval is first obtained from the board of directors.

Required

AdviseCustomer Software Solutions Pty Ltd (CSS)if they can rely on any of the statutory assumptions available in Corporations Act to enforce the contract signed with GreaterGain Pty Ltd and demand payment of the outstanding amount of $30,000. Your answer must be supported with reference to the relevant sections of the Corporations Act and case law.