Business and Corporate Law - Question 1
Issues:
How is the distribution of property to creditors initiated and what are the conditions that have to be met?
Laws Applicable:
Bankruptcy Act, 1966
Application:
According to the provisions of section 58[1] and 58A[2], which talks of Vesting of property upon bankruptcy, the conditions that have to be fulfilled are:
The property, not being after acquired property, go…
Business and Corporate Law - Question 1
Issue
Whether Malcolm is under any contractual obligation amid Linda and Cynthia?
Rule
As per the facts of the case, the rule applied here deals with the contractual obligation specified under the Australian contract law.
Application
According to the facts of the case, Malcolm who is willing to sell his sports car approaches Linda for sale. He approached Linda by way of Letter which is …
Business Law Case Study Solution
Question 1
Part A:
Issue- Whether Tina is legally bound to buy Jeff’s business as a result of signing the heads of the agreement.
Rule- The existence of an agreement is analyzed through the rules of offer and acceptance. As the offer was communicated to the buyer and she accepted it before it is withdrawn, she can be made liable.
Application- As there is a right on part of the buyer to m…
Business and Corporate Laws
Question 1
Part A:
Issue- Whether Tina is legally bound to buy Jeff’s business as a result of signing the heads of the agreement.
Rule: The existence of an agreement is analyzed through the rules of offer and acceptance. As the offer was communicated to the buyer and she accepted it before it is withdrawn, she can be made liable.
Application: As there is a right on part of the buyer to make the agreeme…
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