torrens law2001 corporate law wealthiest gardening

1. Identify the risks of liability arising from diverse sources for both the company and its officers and, in particular, define directors duties and the consequences of breaching those duties;
2. Describe the financing of companies by debt and equity, the rules and restrictions in place to protect creditors and shareholders as well as the rules regulating fundraising;
3. Use skills, including analytical and deductive reasoning, inapplying the above knowledge, rules and principles of corporations law to factual situations which could arise in practice, in order to solve a problem perceptively and creatively or to have sufficient understanding of the legal issues to know what questions to ask when referring the matter for legal advice.
Case Study
Scintillators Pty Ltd is a company engaged in the event management for celebrities. It is a family owned company and Joe Johnson, his wife and three adult children all own shares. Joe Johnson, a former bankrupt, is the sole Director. Joe manages the day to day business of the company which employs 30 employees, comprising event planners, designers and administrative support.
In June of the year the company is engaged by Jerome Best, Australias wealthiest gardening equipment manufacturer, to plan his daughters wedding to Simon Stash, the son of Australias wealthiest marketing magnate. The wedding promises to be the most glamorous celebrity event of the year and Joe Johnson delegates the planning of the event to a team of 4 wedding planners. The planners arrange the flowers, venue, security and drinks for the event, scheduled for December in that year.
All of the suppliers of these services to Scintillators Pty Ltd require payment in advance and the usual practice of the business is to obtain a personal guarantee from the clients and a 50% deposit. In relation to this particular event, Joe Johnson, directs the planners that they should not obtain a personal guarantee, nor require a deposit because he believes that this particular wedding is worth the risk and will situate the company at the centre of the Celebrity events market.
The total suppliers costs, paid out of company funds, put the company in a financially precarious position, and Joe Johnson, not knowing the full financial impact, enters the company into a lease for office premises for a five-year period in the most expensive office building inMelbourne, owned by Jerome Best Pty Ltd. This forms part of his grand plan for the companyto become the premier celebrity event manager in Australia. In the process of moving premises Joe Johnson discovers that he did not provide written consent to his appointment as Director.
In the meantime, Joe Smiths wife leaves him shortly after, citing irreconcilable differences and breach of duties owed to the Company. She also says to him that she is going to sue him personally for breaching his directors duties and notify ASIC of his former bankruptcy and what he has been up to in relation to the company. Jerome Best also personally telephones him to advise that the wedding has been cancelled by the groom and that neither he nor his daughter would be paying a cent to anyone that has provided anything to do with the wedding.
Joe becomes concerned about his legal position, honestly believing he has acted with proprietary and professionalism. He comes to you for advice.
Advise Joe Johnson in relation to any potential equitable and statutory liability. Provide relevant statutory law and/or case law as authority for your answer.

Read less

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10