Business and Corporate Law

This presentation provides an overview of Business and Corporate Law, focusing on contract law and corporation law. It discusses case scenarios, issues, rules, and applications related to these areas of law. The presentation emphasizes the importance of following legal requirements and not breaching contracts. It also highlights the role of promoters in business organizations. The references section includes books, journals, and online resources for further reading.

Business And
Corporate Law

Table of Content
 Introduction
 Part A
 Part B
 Conclusion
 References

INTRODUCTION
Business and Corporation Law is
one of the most important law
which simply explains that
how any of the business
organisation is required to
follow the legal language.

PART A: Contract Law
– Case Scenario
The case has taken place between Lance Lincoln who is the curator of
Australian Museum of Antiquities. He had entered into the contract with one
of the person who represent him as a Trevor Hunt. He was given $200,000
for the purpose of finding out treasure trove which will allow them to display
it in the museum. It was found that Trevor Hunt went into missing and after
having a search it was assumed that he had died at sea which perform his part
of work.

Issue
Looking at the given scenario of the case, it can be assumed that default
was performed by the Conman but, it is needed by find that what are
the legal rights as per Common and Statutory law is given to
Australian Museum of Antiquities. Here, they are not willing to file
any of the criminal charges because they are just willing to recover
their damages from the person who represented him as a Trevor Hunt.

Rules
It is very crucial to understand that whenever any of the party try to show
willingness to enter into the contract they must follow the proper rules
and regulations and if in any of the situation they fails to do so they
legal actions can be taken easily. But, the main which is to be focused
is that breaching the terms and condition is not allowed in any of the
circumstances. As per Australian Contract law all of the promises are
not enforceable but only those promises will be valid where where
promises are made as per the legal binding terms.

Continue
Misrepresentation: It is one of
the way through which party
tries to enter into the contract.
This types of activity is
mainly performed for the
purpose of personal benefit.

Application
From the above case, it was found that breach and misrepresentation has
been done by the side of Trevor Hunt because firstly he represented
his false identity. Carlill v Carbolic Smoke Ball Co [1893] 1 QB 256
was one of the landmark case which explains that Carbolic Smoke
Ball Co. had breach the terms and condition of the contract and it will
be their liability to pay of the damages to Carlill. In the similar form it
was the duty of Conman to perform his part of work to find out the
treasure for the museum but he was not willing to perform their part
of work.

Conclusion
From the discussion made in application, it is understand that by
charging the civil charges against Conman, it will allow the team
to recover the damages from which Australian Museum of
Antiquities has to suffer. It will be his liability that how he will
pay of the damages because in any of the situation false
statement is not allowed to be made within the contract.

References
Books & Journals
Goldberger, J., 2016. An overview of developments in key areas of Australian
contract law. Commercial Law Quarterly: The Journal of the
Commercial Law Association of Australia. 30(1). p.17.
Close, N., 2016. Coherence-based reasoning in Australian contract law
adjudication with broad principles and detailed rules (Doctoral
dissertation, University of Newcastle).
Online
CONTRACTING WITH ROGUES. 2018. [Online]. Available Through: <
http://classic.austlii.edu.au/au/journals/AdelLawRw/1964/1.pdf>

PART B: Corporation
Law
Case Scenario
The case had taken Kellie & friends and the parties to whom they had
involved for completing and commencing the business activity. Here,
Kellie had though to start the new business where she gathered number
of friends who will contribute $10,000 each to start the work. As they
had planned to work, according to the given circumstances Kellie had
given number of orders and started to work on necessary documents so
that proposed company can be setup and official work can be started.

Issue
There are mainly two different issues in this file, the first one is that
who will be the liable for different amount that Kellie has
contracted on behalf of the company which was to be formed.
The second issues in this case is that as company will not be
registered due to which it will be necessary to find out that who
will be liable for the contract which has been made on behalf of
the company.

Rules
It is necessary that whenever any of the company will be formed, it
will be the liability of member that they must follow all of the
rules and regulation of Corporation Act 2001. It is because it
helps the business organisation to perform their part of work and
even guides that what are the necessary area which is needed to
be covered at the time of formation of any of the business
organisation.

Continue
Promoter: This are those person of the
business organisation who perform
their work on behalf of the just
before the formation of an
organisation. Promoters mainly have
the duty to engage and act on behalf
of the corporation which is still
needed to be incorporated.

Application
After having the overview on case and rules, it was found that Killie
and her friend has been given the responsibility to work as a
promoter of the company where they are needed to enter into the
contract with various party. Similarly, in the above case they had
entered into the contract with different parties where they had
given the order that what are the products which will be required
to solved once the company will be incorporated.

Conclusion
From the detail discussion, case law which has been mentioned, it is
quite easy to understand that all of the friend of Killie is required to
perform their part of work as they all had agreed to enter into the
contract. Secondly, they denied to pay the sum of $10000 which is
not acceptable which means the various amount which has been
occurred by Kellie is needed to be paid by Killie and her friend.

CONCLUSION
From the above file it can be concluded that business and
corporation law is quite crucial topic where it becomes
mandatory to follow all of the legal requirement. Contract or
agreement cannot be breached in any of the circumstances. If in
any of the condition, promoter didn't perform their part of the
work then it becomes mandatory for them to understand that they
will have to suffer from the liability.

REFERENCES
Books & Journals
Campbell, A., 2019. Australian Competition and Consumer Commission
v Australian Egg Corporation Limited [2017] FCAFC 152.
Commercial Law Quarterly: The Journal of the Commercial Law
Association of Australia. 33(1). p.17.
Barker, S. and et. al., 2016. Climate change and the fiduciary duties of
pension fund trustees–lessons from the Australian law. Journal of
Sustainable Finance & Investment. 6(3). pp.211-244.
Online
Liability of the Corporation.. 2018. [Online]. Available Through: <
https://lawshelf.com/courseware/entry/liability-of-the-corporation>