Assignment Detail:- LST2LBA Law of Business Association - La Trobe University
QUESTION 1
Michelle and Tim are passionate about motorbikes- In fact, they own a company called Motorbikes Pty Ltd- Michelle is a Director and Tim is the company secretary- They buy and sell motorbikes and repair them-
John wishes to sell his motorbike- John approaches Tim and Tim agrees to purchase John's motorbike for $5,000- Tim and Michelle both sign the contract to purchase John's motorbike-
Two days later, Michelle thinks they have paid too much for John's motorbike and wants to get out of the contract-
Is Motorbikes Pty Ltd bound by the contract???? Provide reasons for your answer- You must cite relevant Australian case law and the Corporations Act 2001 -Cth-- Do not discuss contract law-
QUESTION 2
Gerard and Sylvia love cakes and have recently decided to buy a cake shop from George-
Gerard and Sylvia register a company "Cakes Pty Ltd" with the Australian Securities and Investments Commission- Gerard is listed as a Director and his mum, Sarita, is listed as the company secretary-
On the day of signing the contract to buy the cake shop from George, Gerard stamps the contract with the Cakes Pty Ltd company seal and signs as a witness- The other witness is Sylvia-
A few days pass and George thinks he should have not sold his cake shop- He now wants it back-
Is George bound by the contract???? Provide reasons for your answer- You must cite relevant Australian case law and the Corporations Act 2001 -Cth-- Do not discuss contract law-
Attachment:- Law of Business Association-rar
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