The High Court in Northside Developments Pty Ltd v Registrar-General NSW (1990) 170 CLR 146 at 171-172 commented upon the nature of the company: A company, being a corporation, is a legal fiction. Its existence, capacities and activities are only such as the law attributes to it. The acts and omissions attributed to a company are ... the acts and omissions of natural persons. A company is bound by an act done when the person who does it purports thereby to bind the company and that person is authorised to do so or the doing of the act is subsequently ratified. Explain how a company, a legal fiction, can contract and be bound by the contract. Your answer must include the legal position at common law and under the Corporations Act 2001 (Cth). (10 marks)