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Business and Corporate Law - Question 1
Issues:
How is the distribution of property to creditors initiated and what are the conditions that have to be met?
Laws Applicable:
Bankruptcy Act, 1966
Application:
According to the provisions of section 58[1] and 58A[2], which talks of Vesting of property upon bankruptcy, the conditions that have to be fulfilled are:
The property, not being after acquired property, go…
Business and Corporate Law - Question 1
Issue
Whether Malcolm is under any contractual obligation amid Linda and Cynthia?
Rule
As per the facts of the case, the rule applied here deals with the contractual obligation specified under the Australian contract law.
Application
According to the facts of the case, Malcolm who is willing to sell his sports car approaches Linda for sale. He approached Linda by way of Letter which is …
Business and Corporate Law - Question 1
Issue: The issue within the case study relates to whether Malcolm has any contractual obligations towards Linda and Cynthia regarding selling the sports car.
Rule: Contract law is governed by provisions contained within common law and does not have any specific statutory enactments. Precedents include Partridge v Crittenden [1968] and Carlill v Carbolic Smoke Ball Company [189…
Business and Corporate Laws
Question 1
Part A:
Issue: Whether Tina is legally bound to buy Jeff’s business as a result of signing the heads of the agreement.
Rule: The existence of an agreement is analyzed through the rules of offer and acceptance. As the offer was communicated to the buyer and she accepted it before it is withdrawn, she can be made liable.
Application: As there is a right on part of the buyer to make th…
Assessment 2 Case study analysis
Question 1
Issue: in the present question, the issue arises if Tina can be considered as being bound by the head of agreement that has been created with Jeff.
Rule: for the purpose of deciding the issue mentioned above, it needs to be considered if the heads of agreement created between the parties can be treated as being enforceable by the law. Some of the other names for the heads of agreement includes …
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