A s ae o . s h r d n. . LEGT2741 Lecture 1 – Structure of Australian Company Law and Administration Purpose: Describe the development of company law in England. Understand the current structure of Australian company law. Identify the process of and current law reforms. Explain how company law is administered through ASIC. English Company Law: Incorporation Monasteries‚ local government boroughs and trade guilds were the earliest examples of bodies to be incorporated by Royal Charter
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The Law of Partnerships: Scott Osborne The applicable law: Partnership Act 1892 (NSW) The relevant law is contained in the Partnership Act (PA) of each of the jurisdictions. All are based on the PA (1890) UK Act. The contractual nature of Partnerships Partnerships are essentially contractual. Defining a Partnership [s.1 PA 1892 NSW] The PA defines a partnership as “the relation which exists between persons carrying on a business in common with a view of profit” Partnerships
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Focus ono Ethics Week 6 Luther ANDERSON 0292936 1. Generally‚ agents are under a duty to obey the lawful and reasonable instructions of the principal. Where the principal’s instructions are clear‚ the agent does not normally have any discretion and must follow those instructions‚ unless an agent is a professional and the principal relies on the agent to exercise his professional skill and discretion in accomplishing the tasks he has been appointed to accomplish. However‚ if the principal’s instructions
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Examinership‚ Liquidation and Receivership are the three main insolvency schemes in Ireland; they are provided for in Part VII and Part VIII of the Companies Act 1963 as amended in 1990. The main differences between examinerships‚ liquidations and receivership are outline below; Examinership Examinership is a process where a Company that is insolvent or likely to become insolvent may be placed under the protection of the Court for a period of up to 100 days so as to enable the Examiner to formulate
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Michigan’s Comprehensive Annual Financial Report Governments and not-for–profit organizations prepare financial statement just as businesses making a profit. The financial reports governments and nonprofit organizations use is a comprehensive annual financial report (CAFR). Both annual reports contain similar information such as management’s discussion and analysis and financial statements. The CAFR includes varies other information concerning the governmental structure‚ budget‚ population‚ and
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Chapter 17 Governmental Entities: Introduction and General Fund Accounting McGraw-Hill/Irwin Copyright © 2014 by The McGraw-Hill Companies‚ Inc. All rights reserved. Learning Objective 17-1 Understand and explain the basic differences between governmental and private sector accounting. 17-2 Overview Governmental entities have operating objectives different from those of commercial entities. As a result‚ governmental accounting is different from accounting for commercial enterprises.
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JPMorgan Chase Stephen Lundert Emily Smith‚ J. D. Leg 100 Business Law 1 10 September 2013 JPMorgan Chase is one of the oldest and most respected banks in the United States. However‚ during the summer of 2012 Chase announced trading losses and bad investment decisions that resulted in a loss of approximately $5.8 billion. Not only did they report this substantial loss they admitted to falsifying their first quarter reports‚ were they where attempting to conceal the massive loss.
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the respondents for damages under the tort of negligence: Held: A negligent‚ although honest‚ misrepresentation‚ may give rise to an action for damages for financial loss even if there was no contract between the advisor and the advisee and no fiduciary relationship. The law will imply a duty of care when the advisee seeks information from an advisor who has special skill and where the advisee trusts the advisor to exercise due care‚ and that the advisor knew or ought to have known that reliance
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1. For the Year ending September 30‚ 2011 an independent audit was done by Crowe Herewith LLP‚ certified public accountants for the county of Broward. The opinion rendered was unqualified‚ the financial statements included in the report conforms with generally accepted accounting principals (GAAP) accepted by Governmental Accounting Standards Board (GASB). The purpose of the independent audit is for the purpose of providing explanatory and applicable financial information to the citizens‚ board
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According to the Bridgespan Group one of the main responsibilities of nonprofit board members is ‘to maintain financial accountability of their organization. Board members act as trustees of the organization’s assets and must exercise due diligence to oversee that the organization is well-managed and that its financial situation remains sound.’ Oversight by state and federal regulators is an extremely important job that must be done‚ correctly and with fidelity‚ by the Executive Director and Board
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