Professional Writers
We assemble our team by selectively choosing highly skilled writers, each boasting specialized knowledge in specific subject areas and a robust background in academic writing
You Can Order For A Similar Custom Written Paper 24/7!
For all college assessment assignments, fill the order form with the requested details and get your essays done promptly.
Posted: July 13th, 2022
Corporate Law Assignment | Homework For You
‘Mr & Mrs Jones operate a popular Hardware store in Katherine through a company called ‘Jones Hardware Pty Ltd’. Mrs Jones is a director of the company and Mr Jones is also a director and secretary of the company. Mrs Jones attends BNZ Bank which has been the company’s bank for the last 15 years. Mrs Jones completed a loan application to borrow $300,000 which states purpose the funds will be used for. In the application Mrs Jones advises that the funds will be used to expand their business into Western Australia and establish a new company. The shareholders and directors of the new company will be Mrs Jones and her friend. The relevant bank manager knows Mr & Mrs Jones well and has always met with them both.
The bank manager is concerned with the loan applications however makes no further enquiries. The banker manager agrees with Mrs Jones to lend the money on the basis that the bank can take security over the company’s major asset being a building from which the company operates. Mrs Jones lends the monies to a new company in which she is a director and shareholder in with her best friend. Mrs Jones intention is to establish the new company with her best friend and then leave her husband. Mrs Jones obtains the loan and mortgage documents from the bank. She affixes the common seal of the company and her best friend signs as secretary. The bank advances the money. Mrs Jones lends the monies to the new company. The new company establishes a business in Western Australia and then commences the process of approaching the largest clients of Jones Hardware Pty Ltd.
REQUIRED:
• Explain whether BNZ bank can enforce its mortgage over the building. Consider whether it can rely of the assumptions in s129 of the Corporations Act. and whether an exception to the assumption by way of s128(4) is applicable. Refer to case law to explain your conclusion. (Words 1,000 (15 marks)
• Briefly discuss whether Mrs Jones has breached any director duties in establishing the new company and approaching clients. Business Law Assignment: I need help writing a research paper.
Why choose us
You Want Quality and That’s What We Deliver
Discounted Prices
Our service is committed to delivering the finest writers at the most competitive rates, ensuring that affordability is balanced with uncompromising quality. Our pricing strategy is designed to be both fair and reasonable, standing out favorably against other writing services in the market.
AI & Plagiarism-Free
Rest assured, you'll never receive a product tainted by plagiarism or AI-generated content. Each paper is research-written by human writers, followed by a rigorous scanning process of the final draft before it's delivered to you, ensuring the content is entirely original and maintaining our unwavering commitment to providing plagiarism-free work.
How it works
When you decide to place an order with Nurscola, here is what happens: