QUESTION 1 Issue: the issue about company’s constitution and whether the loan contract between ABC bank and Sambal Pty Ltd is invalid. State the law: Section 140 of the corporations act states that: “A company’s constitution (if any) and any replaceable rules that apple to the company have effect as a contract: (a) Between the company and each member; and (b) Between the company and each director and company secretary; and (c) Between a member and each other member; Apply the law: According
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Distinguish between offer & invitation to treat. An offer is a definite promise to be bound provided that certain terms are to be accepted. The Contracts Act 1950 uses the term ‘proposal’ but it has the same meaning as an ‘offer. Section 2(a) defines a proposal as ‘when a person signifies to another his willingness to do or to abstain from doing anything‚ with a view to obtaining the assent of that other to the act or abstinence‚ he is said to make a proposal. An invitation to treat is a statement
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COMMON LAW AS A LEGAL SYSTEM Common Law and Civil Law When defined in this way the term ¡§common law¡¨ is used to refer to a type of legal system called the common law legal system. The legal systems of various countries are modeled on the English legal system and these countries are said to have a ¡§common law legal system¡¨. This includes most of the British Commonwealth and the United States. The common law legal system involves such matters as trial by jury‚ presumption of innocence etc
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“A company or a corporation is an ‘artificial person’ created by law.” Discuss. Introduction A company or a corporation is an artificial person not natural person. Artificial person are such as are created and devised by human laws for the purpose of society and government which are called corporation. Such artificial persons‚ known as corporation‚ possess similar rights and owe similar obligation as natural person‚ but have no physical or natural existence. The law in creating legal persons always
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Objectives of Lecture : At the end of this lecture‚ you should be able to: understand the ordinary concepts of income; | | THE ORDINARY CONCEPTS OF INCOME What is Income? The assessable income of an entity for a year of income includes the ordinary income of an entity and the statutory income of the entity for that year (Section 6-1 ITAA (1997)). Ordinary income is income according to ordinary concepts. The courts have had to determine what is income according to
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Question 1 Identify the various sources of Malaysian Law Written Law The sources of law consist of written law and unwritten law.In written law‚it have federal constitution‚state constitution‚legislation and subsidiary legislation. Federal Constitution Malaysia is a federation of 13 states with a written federal constitution . Article 4 of the federal constitution of Malaysia provides that the federal constitution is the supreme law of the country . The constitution is a unique expression of
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“We are entitled to be proud that even in that extreme national emergency [the Second World War] there was one voice – eloquent and courageous – which asserted older‚ nobler‚ more enduring values: the right of the individual against the state duty to govern in accordance of law; the role of the courts as guarantor of legality and individual right‚ the priceless gift‚ subject only to constraints by law established‚ of individual freedom.”(Lord Bingham of Cornhill‚ The case of Liversidge v Anderson:
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BUSINESS ENTITIES OUTLINE FIDUCIARY DUTIES: 2 different analyses • DELAWARE ▪ 1) Nature of Breach • A) Duty of loyalty: The duty of loyalty mandates that the best interest of the corporation and its shareholders takes precedence over any interest possessed by a director‚ officer‚ or controlling shareholder o i) Self-Dealing: Any time a corporation is in a transaction where a director‚ officer‚ or majority shareholder is on the other side‚ and the corporation
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NOTES OF CASES THECASEOF THE SLIPPERY EQUITY IN Re Vandervell’s Trusts (No. 2)‚’ Lord Denning M.R. said: “ (‘ Hard cases make bad law ’) is a maxim which is quite misleading. It should be deleted from our vocabulary. It comes to this: ‘Unjust decisions make good law’: whereas they do nothing of the kind. Every unjust decision is a reproach to the law or to the judge who administers it.”a Now that it has been decided that there is to be no appeal from the decision of the Court of Appeal‚ it is worth
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Nicholas)Tong)Wei)Jie) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Nick’s Admin Law " ) 2012-2013 Exam Notes " 0)Page)1)of)20)0) Nicholas)Tong)Wei)Jie) ) GENERAL" ESSAY)WRITING)TIPS) SUMMARY:)Summary)of)what)happened)in)one)sentence)e.g.)_____)applied)for)a)licence)but)did)not)get)it.) REMEDIES:)_______)is)seeking)judicial)review)of))__________’s)decision)to)_________.)) Incorporate)desired)remedies)(certiorari/mandamus/prohibition)) GROUNDS"OF"REVIEW:)Give)a)short)summary)of)your)analysis)e.g.)A)has)3)potential)grounds)for)review
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