Sample Assignment on Corporate Law (pdf)

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Added on 2021-06-17

Sample Assignment on Corporate Law (pdf)

Added on 2021-06-17

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Running head: CORPORATE LAWCase study of Austin LtdName of the student:Name of the university:Author note

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1CORPORATE LAWTable of ContentsIntroduction:...............................................................................................................................2Discussion:.................................................................................................................................2Duties breached:.....................................................................................................................2Decision:.................................................................................................................................2Impact:....................................................................................................................................3Reference:..................................................................................................................................4

Sample Assignment on Corporate Law (pdf)_2

2CORPORATE LAWIntroduction:The subject matter of the case is based on provision of Corporation Act 2001. Inthis case, provision regarding disclosure of the documents, issuance of shares and liabilitiesof the corporations regarding any statements has been prescribed. Further, certain defencesfor the wrongful acts and allegations have also been discussed here. The rights of the thirdparties regarding any statements generated from the experts have been pointed out here. InAustralia, all the company related problems deal by Corporation Act 2001. The Act isworking as the guiding principle of the corporative activities. All the provisions andguidelines mentioned under this Act are mandatory in nature and the directors of thecorporations are compelled to abide by the provisions. According to the Company law, adirector of a company should act for the best interest of the company and he should take allthe decisions effectively and prudently. If any director has held liable for non-maintaining theprovisions of the Act, he will have to face penalties under the Act. However, considering thescope of the duties, certain rights have also been imposed by this Act on the directors. Discussion:Under the Corporation Act, there are certain grounds that state about the duties ofthe directors that should have to be maintained by every director. According to section 180 ofthe Act, every director should perform with due care and diligence. The directors are liable totake all the decisions appropriately and they have to take a close vigil over the issue that noone get affected for their decision (Yoshikawa and Hu 2017). Further, it has been statedunder section 181 of the Act, it is the basic duty of the directors to act in good faith and theyshould have to act for the best interest of the company and the shareholders. They should notstate any false statements or facts. It has been mentioned in ASIC v Adler, the director should

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