Business and Corporate Law: Doctrine of Precedent, Contract Law, Termination, Implied Terms, Specific Performance, Injunction, Gathering Information, Taking Action

Business and
Corporate Law

Table of Contents
INTRODUCTION ..........................................................................................................................3
QUESTION 1...................................................................................................................................3
1. What is meant by the Doctrine of Precedent? ........................................................................3
QUESTION 2...................................................................................................................................4
2.Does Emily have any rights to claim her back pay under contract law? Explain essential
elements for the creation of a valid simple contract...................................................................4
QUESTION 3...................................................................................................................................4
What is Lion Tree's liability if he terminates both these contracts? Advise him, citing legal
basis in support of your advice....................................................................................................4
QUESTION 4...................................................................................................................................6
When will the courts imply terms into a contract?.....................................................................6
QUESTION 5...................................................................................................................................6
a) What is an action for specific performance and when will a plaintiff seek such an order
from a court?...............................................................................................................................6
b) What is an injunction and when will a plaintiff seek an injunction as a remedy in a
contractual dispute?.....................................................................................................................7
QUESTION 6...................................................................................................................................7
a) What are the means that Katie might attempt to use to gather information about the
company, in order to consider her options in taking action?......................................................7
b) If Katie does find that the company is acting unfairly or prejudicially against some
members, what type of action can she instigate? .......................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Business plays and important role in all the organisation as it tries to frame all the rules
and the regulation that are being needed by the company in order to run a proper business. The
corporate law also helps in formation and in operating the companies in a smoother way by
giving various norms and rules which are needed to be followed. There has been analysed that all
such laws are covered like IPR, contract act, corporation act, employment act etc. The corporate
law provides all the matters and the laws that helps in operating the company and all the body
corporate is being registered and framed in Australia(Orts, 2017). This report will discuss
various case scenarios with all the detailed information about Australian law and judicial
precedent also with corporation law and its specific sections.
QUESTION 1
1. What is meant by the Doctrine of Precedent?
The doctrine of precedents covers all the judicial decision making in Australia. This is the
fundamental constraint right in Australia and it covers out all the matters that are being
previously decided by the judges in order to frame various laws and the rules. This merely means
to follow the past decisions. The main aim and the moral reason behind the judicial precedent is
that it helps to serve all the political idea that helps out in order to ensure the law that is being
developed and has been applied in a predictable manner. It covers all the decision that are being
raised by the superior courts and which is to be applied by the other courts while hearing the
same case. There are mainly two kinds of precedents which is Binding precedents it means that
the decision which is raised by the heigh courts are to be followed by all and will be having the
binding effect (Amodu, 2021). The other one is Persuasive precedents it means that all the
decisions which are made by the superior courts are use to be considered but that will not be
binding on all the doctrine of precedents helps out to give all the judges a guideline or a way
through which the judgement can be taken place as the binding precedents will always covers all
the rights and the responsibilities. All the laws are thereby being framed with the help of judicial
precedents as or covers all the rules and the norms that are being applied.