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The directors of Ardvaark Ltd instructed the company's stockbroker to buy 10,000 shares in BHP Billiton Ltd on the company's behalf. After the purchase was

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The directors of Ardvaark Ltd instructed the company's stockbroker to buy 10,000 shares in BHP Billiton Ltd on the company's behalf. After the purchase was finalised, BHP Billiton Ltd sent Ardvaark Ltd a banking form to enable BHP Billiton dividends to be credited directly into a bank account that Ardvaark Ltd nominated. The banking forin had to be signed by eithertwo directors or a director and the company secretary as follows: Signature of Director Signature Director/Secretary (strike out whichever is inapplicable) Instead of inserting Ardvaark Ltd's bank account details on the form, Anthony, Ardvaark Ltd's secretary, filled in his own bank account details and signed the form as the company's secretary, Anthony's wife, despite not being an Ardvaark Ltd director, signed as director. Anthony then posted the banking form to BHP Billiton Ltd. Several weeks later, BHP Billiton dividends were credited to Anthony's account. Not long afterwards Anthony esigned as secretary and left Australia without telling anyone where he had gone. About 18 months later, Ardvaark Ltd's internal auditor noticed that its BHP Billiton dividends had not been deposited into Ardvaark Ltd's bank account and reported the matter to the company's managing director, who discovered what Anthony had done. When informed about this, BHP Billiton Ltd agreed to credit Ardvaark Ltd's bank account for future dividend payments, but would not reimburse Ardvaark Ltd for the dividends that had been deposited into Anthony's bank account previously. Explain whether Ardvaark Ltd may validiy argue that it did not sign the bank account forrn that Anthony sent to BHP Billiton Ltd

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