Note: To answer this question 1 you have to describe Common Law and statuary provision. The preferred cases are Oscar chess ltd V Williams and Dick Bentley production cases. This question might be from Misleading or deceptive Conduct.
Required: A) Advise Janet whether the company is liable to pay external suppliers
B) Also advise Janet of the consequences for the company in not carrying on activities within its objectives
Note: for this question the relevant sections are 128-129 & sub section 1, 3, 4. Also Section 180-183 is relevant. You have to describe legal replaceable rule, constitution and section number.
Required: Philip and Helen on their return find out about all three transactions. Advice them as to whether Bill, Simon and Robin have breached their duties to the company and what can the company recover from Bill, Simon and Robin.
Note: the relevant section is section 180 & 182-183 directors breached of duty and mention applicable case law.
Book: Fitzpatrick, J; Symes, C; Veljanovski, A and Parker, D, (2016), Business and Corporations Law, 3rd edition, LexisNexis Butterworths, Australia.