lOMoAR cPSD| 11700591
Summary - best final
exams notes
Law of Business Organisations (Western Sydney University)
, lOMoAR cPSD| 11700591
Final Exam Notes
SEPARATE LEGAL ENTITY:
LIABILITY OF COMPANY FOR CLAIMS OF OWNER/EMPLOYEE ......................................................... 3
SEPARATE LEGAL ENTITY:
PERSONAL LIABILITY OF OWNERS ....................................................................................................... 4
SEPARATE LEGAL ENTITY:
EXISTANCE OF COMPANY WITHOUT DIRECTORS .............................................................................. 5
SEPARATE LEGAL ENTITY:
LIFTING OF CORPORATE VEIL.............................................................................................................. 6
SEPARATE LEGAL ENTITY:
LIFTING OF CORPORATE VEIL IN CORPORATE GROUPS ................................................................... 7
PROMOTERS: CONSIDERATION ............................................................................................................ 8
PROMOTERS:
LIABILITY FOR PRE-REGISTRATION CONTRACT ................................................................................ 9
PROMOTERS: FIDUCIARY DUTIES (SECRET PROFIT) ....................................................................... 10
CONSTITUTION:
CONTRACT BETWEEN COMPANY AND MEMBERS ............................................................................. 11
CONSTITUTION:
CONTRACT BETWEEN COMPANY AND DIRECTORS ........................................................................... 12
CONSTITUTION: OBJECT CLAUSE...................................................................................................... 13
DIRECTORS: CONSIDERATION ............................................................................................................ 14
MEMBERS’ POWERS TO MANAGE COMPANY..................................................................................... 15
COMPANY’S LIABILITY UNDER CONTRACT ....................................................................................... 16
COMPANY’S LIABILITY IN TORT ......................................................................................................... 17
COMPANY’S LIABILITY IN CRIME........................................................................................................ 18
MEMBERS’ MEETING: ABILITY TO CALL MEETING ........................................................................... 19
MEMBERS’ MEETING: IRREGULARITIES ............................................................................................. 20
MEMBERS’ MEETING: REMOVING DIRECTORS .................................................................................. 21
DIRECTORS: DUTY OF CARE ............................................................................................................... 22
DIRECTORS: DUTY TO AVOID CONFLICT OF INTEREST - DUTY OF GOOD FAITH
(e.g. SECRET PROFIT)......................................................................................................................... 24
DIRECTORS: RELATED PARTIES TRANSACTION ............................................................................... 26
DIRECTORS:
DUTY TO PREVENT INSOLVENT TRADING ........................................................................................ 27
DIRECTORS:
DUTY TO ACT FOR PROPER PURPOSE............................................................................................... 28
DIRECTORS: DUTY TO ACT FOR PROPER PURPOSE IN RELATION TO SHARE ISSUE.................... 30
MEMBERS’ REMEDIES: EXPROPRIATION OF SHARES........................................................................ 32
MEMBERS’ REMEDIES: DERIVATIVE ACTION ..................................................................................... 33
MEMBERS’ REMEDIES: OPPRESSION .................................................................................................. 34
1
, lOMoAR cPSD| 11700591
MEMBERS’ RIGHTS: ACCESS TO BOOKS ............................................................................................ 35
CAPITAL MAINTENANCE: SHARE BUY-BACK AND REDUCTION OF CAPITAL ................................. 36
CAPITAL MAINTENANCE: DIVIDENDS OUT OF DEBT........................................................................ 37
FUNDRAISING: PROPRIETARY COMPANY .......................................................................................... 38
FUNDRAISING: PUBLIC COMPANY ..................................................................................................... 39
FUNDRAISING: MISLEADING INFORMATION IN DISCLOSURE DOCUMENTS ................................... 40
PRIORITY OF CHARGES ....................................................................................................................... 41
EXTERNAL ADMINISTRATION .............................................................................................................. 42
WINDING-UP ......................................................................................................................................... 44
VOIDABLE TRANSACTIONS.................................................................................................................. 45
2
Summary - best final
exams notes
Law of Business Organisations (Western Sydney University)
, lOMoAR cPSD| 11700591
Final Exam Notes
SEPARATE LEGAL ENTITY:
LIABILITY OF COMPANY FOR CLAIMS OF OWNER/EMPLOYEE ......................................................... 3
SEPARATE LEGAL ENTITY:
PERSONAL LIABILITY OF OWNERS ....................................................................................................... 4
SEPARATE LEGAL ENTITY:
EXISTANCE OF COMPANY WITHOUT DIRECTORS .............................................................................. 5
SEPARATE LEGAL ENTITY:
LIFTING OF CORPORATE VEIL.............................................................................................................. 6
SEPARATE LEGAL ENTITY:
LIFTING OF CORPORATE VEIL IN CORPORATE GROUPS ................................................................... 7
PROMOTERS: CONSIDERATION ............................................................................................................ 8
PROMOTERS:
LIABILITY FOR PRE-REGISTRATION CONTRACT ................................................................................ 9
PROMOTERS: FIDUCIARY DUTIES (SECRET PROFIT) ....................................................................... 10
CONSTITUTION:
CONTRACT BETWEEN COMPANY AND MEMBERS ............................................................................. 11
CONSTITUTION:
CONTRACT BETWEEN COMPANY AND DIRECTORS ........................................................................... 12
CONSTITUTION: OBJECT CLAUSE...................................................................................................... 13
DIRECTORS: CONSIDERATION ............................................................................................................ 14
MEMBERS’ POWERS TO MANAGE COMPANY..................................................................................... 15
COMPANY’S LIABILITY UNDER CONTRACT ....................................................................................... 16
COMPANY’S LIABILITY IN TORT ......................................................................................................... 17
COMPANY’S LIABILITY IN CRIME........................................................................................................ 18
MEMBERS’ MEETING: ABILITY TO CALL MEETING ........................................................................... 19
MEMBERS’ MEETING: IRREGULARITIES ............................................................................................. 20
MEMBERS’ MEETING: REMOVING DIRECTORS .................................................................................. 21
DIRECTORS: DUTY OF CARE ............................................................................................................... 22
DIRECTORS: DUTY TO AVOID CONFLICT OF INTEREST - DUTY OF GOOD FAITH
(e.g. SECRET PROFIT)......................................................................................................................... 24
DIRECTORS: RELATED PARTIES TRANSACTION ............................................................................... 26
DIRECTORS:
DUTY TO PREVENT INSOLVENT TRADING ........................................................................................ 27
DIRECTORS:
DUTY TO ACT FOR PROPER PURPOSE............................................................................................... 28
DIRECTORS: DUTY TO ACT FOR PROPER PURPOSE IN RELATION TO SHARE ISSUE.................... 30
MEMBERS’ REMEDIES: EXPROPRIATION OF SHARES........................................................................ 32
MEMBERS’ REMEDIES: DERIVATIVE ACTION ..................................................................................... 33
MEMBERS’ REMEDIES: OPPRESSION .................................................................................................. 34
1
, lOMoAR cPSD| 11700591
MEMBERS’ RIGHTS: ACCESS TO BOOKS ............................................................................................ 35
CAPITAL MAINTENANCE: SHARE BUY-BACK AND REDUCTION OF CAPITAL ................................. 36
CAPITAL MAINTENANCE: DIVIDENDS OUT OF DEBT........................................................................ 37
FUNDRAISING: PROPRIETARY COMPANY .......................................................................................... 38
FUNDRAISING: PUBLIC COMPANY ..................................................................................................... 39
FUNDRAISING: MISLEADING INFORMATION IN DISCLOSURE DOCUMENTS ................................... 40
PRIORITY OF CHARGES ....................................................................................................................... 41
EXTERNAL ADMINISTRATION .............................................................................................................. 42
WINDING-UP ......................................................................................................................................... 44
VOIDABLE TRANSACTIONS.................................................................................................................. 45
2
