HA3021 - Corporations Law - Law Assignment Help

Assignment Task

Purpose: This assessment consists of six (6) questions and is designed to assess your level of knowledge of the key topics covered in this unit

Question 1

Friends Milly Cook and Joel Reed have always dreamed of starting a business together. The problem is that they do not possess any prior experience setting up or running a business. Ideally, they would want the management of their business to stay as simple as possible. They also want to maintain secrecy so that outsiders cannot easily find out what the nature of their business is. Since they are both enthusiastic people they are both positive that once running, their business will fly off the ground. They foresee that they might have to source more money to grow their business. They want your advice on the best type of business structure they can choose given their circumstances.

Question 2

Tara Lambert, an accountant, controlled a few companies. One of these companies was Wolf Properties Pty Ltd, which was a real estate property development firm. One of Tara’s employees, Rowan Castillo, owned a company called Phantom Developments, which was in the business of buying distressed properties, renovating them and selling them for a profit.

A general manager, Samuel Peterson, was hired to run the companies under Tara’s overall control. Samuel frequently forwarded information to Rowan about properties that Wolf Properties planned to buy. This was in violation of Samuel’s agreement with Tara. Rowan then took advantage of this information for the benefit of his own company, Phantom Developments, by buying those properties before Wolf Properties could buy them.

Does Tara have any remedies against either Samuel or Phantom Developments? Discuss.

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