Business and Corporate Law: Australian Legal Framework Analysis

This report delves into key aspects of business and corporate law, providing an in-depth analysis of several case scenarios within the Australian legal framework. It begins with an exploration of the Doctrine of Precedent, explaining its significance in judicial decision-making. The report then examines contract law, addressing a scenario involving back pay claims and the essential elements of a valid simple contract. It further analyzes the liabilities associated with contract termination, offering advice based on legal principles. The report also explores implied terms in contracts, specific performance, and injunctions as remedies for contractual disputes. Finally, it considers the means to gather information about a company's unfair practices and the actions that can be taken. The report references relevant legal sources and provides a comprehensive understanding of the legal principles discussed.

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.

QUESTION 2
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.
Issue- Can Emily claim for the $2000 back pay which the Fido House has not given her.
Rule- The Australian contract Law (ACL) is being covered with all the general rules which are
made in the contract. Contract law covers all the elements that are important for the party in
order to get in the contract.
Application- There has been framed that in the creation of the simple contract there has been
made that certain requirements have to be fulfilled they are as follow: Agreement- The contract always cover an offer which has been initiated by the one party
and that offer can there by be fulfilled in order to frame that offer the other party should
accept that offer. In this case scenario there was an offer and acceptance(Heaton, 2017). Consideration- the price that is been fixed between the parties for doing that work
amounts to consideration and there was a consideration fixed in the parties. Intention to create legal relation- There should always be an intention in the parties to
create the legal relation in between them. Capacity- the parties entering in the contract will have to be capable in order to enter in
that contract. And in this case both the parties are legally capable to enter in contract.
Conclusion- Thus there has been analysed that Emily was in a valid contract with Fido house as
there was agreement, consideration framed, intention and with that capacity to contract. So she
can claim on them in order to get her back pay from the company. As she was in a proper
contract with the company and it is not important that the contract will have to be in written
form. It can be implied too.
QUESTION 3
What is Lion Tree's liability if he terminates both these contracts? Advise him, citing legal basis
in support of your advice.
Issue
 Can lion Tree will be held liable for termination of contract?
 What are the liabilities of Lion for termination of contract?

Rule- As by the Australian Contract Law (ACL) will be applied and with that there will be
termination of contract will be framed.
Application
There are certain conditions through which the termination of the contract can be made
and that is as follows:
Termination due to breach in the condition- As in the contract law when there has been
seen that the parties were in a proper contract and one of the party even after agreeing on all the
terms and the condition s has made a breach in the contract and has made that contract to end.
The conditions and the breach of the term will be calculated upon all the conditions and the
innominate terms that has been fixed in them(Dinovitzer and Garth, 2020). As when the parties
has made a valid contract and there was being applied that all such methods and the revocation
has been made even after knowing the terms.
Termination due to Repudiation- In this term when there has been seen that one party is
not been able to perform the specific function for which the contract was framed then the other
party can terminate the contract. There has been applied that all then parties being made over
there will have top frame all the are through which the conditions can there by being claimed. As
when the parties repudiated and that reason can be any then the party denies and can make a
legal termination in that condition.
Termination due to delay- Usually in all the contract agreements there has been made a
specific time period through which the company or the party will have to do that work. As in
order to make any contract there has been analysed that all the contract should have to be
completed in the specific time period and as if there the time period is not mentioned then also
the companies or the parties will be abruptly being made to complete it at earliest. In the
condition where one of the party cause a sever delay in the framing or completing the contract
then the other party can terminate the contract when so ever it is needed and required.
Conclusion- In this case as Lion was under a contract with both the companies which are Jenny
Maguire sports agency pty ltd and Plus two shoes(Kraakman, 2017). As he has been under the
written and agreed contract and while if he wants to terminate the contract then there will be
given an adequate reason the contract made in the parties was accepted by him and all the
adequate essentials were there by being filled but there has been analysed bas they were not
liking the treatment so want to terminate the contract with the company but for that when such

condition arises there will be breach in in contract.. And either he will have to pay the damages
to the company for his termination of the contract and there will be a breach of contract in the
party as he was in a contract for 3 and 2 years respectively. And the companies will tend to take
2 remedies that can be breach of contract the damages for the breach or can go to the court for
the specific performance of contract.
QUESTION 4
When will the courts imply terms into a contract?
The court implied terms are those terms and the conditions which are not being discussed
by the parties and are not also referred in any terms of the contract. These mainly being covered
through the common law and also by the statue. As such terms which are covered by the party
without expressing.
In all the common law terms there will be given all the implied conditions in the parties
and there counts to be a proper intention in all as the terms being made will have to be fulfilled
without even expressing. The Ad hoc implied terms covers all the presumed intention between
the parties and this is mainly being framed in all the business transactions(Mitchell, 2019).
Thus there has been seen that all the conditions which are actually being in record of all
the company and that has made a clear intention in the parties that condition will be fulfilled
covered under implies terms.
QUESTION 5
a) What is an action for specific performance and when will a plaintiff seek such an order from a
court?
When the parties enter in a contract and there has been faced any breach of contract then
the aggrieved party can go to the court. In specific performance the actions taken by the court is
either the damages or losses to be given to the party or can make the party to fulfil that contract
and perform that contract. The plaintiff seek such order when they does any breach in performing
the contract and that affects the other party as they will suffer the loss due to this.

b) What is an injunction and when will a plaintiff seek an injunction as a remedy in a contractual
dispute?
Injunction is the order that is being given by the court in order to restraint any person to
do an act. There has been complied that when one party is restrained by doing any act or as due
to breach that will be known as injunction. Mainly this helps the party to stop any person in order
to create the performance of the contract(Wells, 2018). The injunction is being granted to the
parties when it seems that the compensation or the damages are not being adequate for the party.
In all the contractual disputes the parties can tend to take the help of injunction by restraining
them to do any breach in there contract.
QUESTION 6
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?
As Katie being the retired entrepreneur and has noticed that there are certain unfair
practises that are taking place in order to make the profit for there own means and for that Katie
can there by move to court and get a legal notice so as to get all the information. With that she
can also gather the holding in the information through the shareholders as in order to frame all
the means and the business. By serving the legal notice through the corporation act 2001 the
company will have top adequately show all the relevant and the conspicuous data that are needed
to get the relevant information about the company (Yu, 2019).
b) If Katie does find that the company is acting unfairly or prejudicially against some members,
what type of action can she instigate?
As when Katie address that there are certain unfair practises which are being taken place
in the company and the members are duly involved in it then she can directly go to the court and
court can order with section 461(4) to wind up if there has been seen something inadequate. Or
even the courts will have the power to take actions against the company as by section 467.

CONCLUSION
From this above report it is concluded that, business law plays an important role in all the
companies and helps to frame out all the strategies and the rules that has to be implemented in
the court. The corporate law provides all the rules and the regulations that gives out all the
measures and the rules for the company. For framing a contract it is important to fulfil all the
essential elements that are being important for all the company. Like agreements, consideration,
legal intention etc. Judicial precedents is an important method through which the decisions of the
courts are being taken place. Furthermore all the case scenario covers the important aspect of
corporation law and contract law.

REFERENCES
Books and Journals
Orts, E.W., 2017. Corporate Law and Business Theory. Wash. & Lee L. Rev., 74, p.1089.
Heaton, J.B., 2017. The" Long Term" in Corporate Law. The Business Lawyer, 72(2), pp.353-
366.
Dinovitzer, R. and Garth, B.G., 2020. The New Place of Corporate Law Firms in the Structuring
of Elite Legal Careers. Law & Social Inquiry, 45(1), pp.1-33.
Mitchell, L.E., 2019. Progressive corporate law. Routledge.
Wells, H. ed., 2018. Research handbook on the history of corporate and company law. Edward
Elgar Publishing.
Amodu, N., 2021. Codified Directors’ Duty to Balance Interests: The Beginning of the Future
for Corporate Law?. International and Comparative Corporate Law Journal, 14(3).
Kraakman, R., 2017. The anatomy of corporate law: A comparative and functional approach.
Oxford University Press.
Yu, D., 2019. Corporate Law. In Chinese Business Law (pp. 1-42). Palgrave Macmillan,
Singapore.