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Corporate and Business Law (PDF)

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Added on  2021-05-31

Corporate and Business Law (PDF)

   Added on 2021-05-31

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2018Corporate LawStudent’s NameCorporate LawStudent’s Name
Corporate and Business Law  (PDF)_1
Business Law1ContentsIssues................................................................................................................................................2Rules................................................................................................................................................2Application......................................................................................................................................4Conclusion.......................................................................................................................................5References........................................................................................................................................7
Corporate and Business Law  (PDF)_2
Business Law2IssuesIn the provided case, Fruut Pty. Ltd.’s profits have fallen due to the reason of opening a competitive business nearby. Mr. Rik, one of the directors of Fruut Pty. Ltd., who was used to take every financial decision of the company, had taken a decision to change companies’ premises, as he thought that by changing the premises, company would do well in near future in terms of sale. In this course, Mr. Rik has signed a lease deed of 3 years on behalf of the companyto take new premises on lease for company’s business. Then after signing of the said lease deed, Mr. Rik has called a board meeting and informed to Mr. Patel and Ms. Lana about the decision of shifting of company’s office address. Thereafter, due to some natural calamities, company did not perform well and directors of the company have decided to move again to old premises which was still vacate. Lana, being achartered account has argued that the aforesaid lease deed is not enforceable as Mr. Rik has signed the same with his name instead name of Fruut Pty. Ltd., whereas agent of seller claimed that the lease is perfectly valid and enforceable against Fruut Pty. Ltd.RulesSection 127 of Corporations Act, 2001 Cth defines the way in which a document or agreement should be signed on behalf of the company. This section says that a company’s legal document should be signed by at least two directors of the company, or a director and a secretaryof the company or in case of proprietary concern, sole secretary or sole director of the concern (Mondaq, 2016).
Corporate and Business Law  (PDF)_3

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