LAW6000: Brian and Kendra Case Study - Business and Corporate Law - Law Assignment Help

ASSIGNMENT TASK:

TASK:

Question 1

Identify the 3 arms of the Australian government and explain how this arrangement demonstrates the concept of the separation of powers.

Question 2

What is a restrictive covenant? What factors will the courts take into account to determine whether a restrictive covenant is enforceable?

Question 3

A partner in a partnership has joint and several liability. Explain what is meant by joint and several liability in terms of individual partner liability.

SCENARIO 1

Kendra is a financial advisor employed by Goldenfuture Pty Ltd. Johan has recently inherited a sum of money which he wishes to safely invest. Johan has become a client of Goldenfuture and Kendra has been appointed as his advisor. Johan clearly instructs Kendra to make low risk, long term gain investments, and not to make any high risk investments. Kendra advised Johan to invest in Rocksteady Ltd. Kendra reassures Johan by stating Rocksteady Ltd has a long history of stability and conservative growth and is a safe investment. Johan accepts Kendra’s advice and invests all his inheritance with Rocksteady Ltd.

Question 4 (a)
 

With reference to relevant legal principles explain whether Johan can sue Kendra for professional negligence

Question 4 (b)

With reference to relevant legal principles explain whether Johan can sue Goldenfuture Pty Ltd for negligence.

SCENARIO 2

Brian is a director of Graball Ltd. Graball Ltd wants to grow its business and wishes to take over another successful company, Hubris Ltd. This is discussed at a Graball Ltd board meeting and it is decided to attempt the takeover in three months. Brian’s brother, Dennis, is an executive director of Hubris Ltd. However, Brian does not disclose this fact to the board of Graball Ltd. Brian informs Dennis of the intended takeover and also buys 100,000 shares in Hubris Ltd at $30 a share. Dennis also increases his own shareholding in Hubris Ltd. However, prior to the takeover Dennis resigns as an executive director of Hubris Ltd to set up his own business. Dennis takes with him a new and valuable investment security pricing system he developed and used while working as an executive director of Hubris Ltd and uses it in his own business.

Question 5 (a)

With reference to the relevant sections of the Corporations Act and case law, explain whether Brian and Dennis have properly fulfilled their duties as directors? If not, what duties have they breached and why?

Question 5 (b)

With reference to the relevant sections of the Corporations Act and case law explain whether the ‘business judgment rule’ would be useful to either Brian or Dennis in these circumstances?

Question 5 (c)

Explain the provisions of the Corporations Act 2001 (Cth) that set out what a business judgement is.

Question 5 (d)

Explain the defences available for directors who breach their duty under s 180(1) or the common law equivalent.

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