Question 1.
A. What recourse does Linda have and against whom?
The issue is what resources Linda has and against whom regarding AYNPL refusing to pay for her services.
Company law has many different sources which it is derived from. Thus, this means that it could be necessary to look in more than one place to see if an action or proposal is affected by legal rules. These sources of company law include the Corporations Act 2001 (Cth). The Corporations Act is the main statute which regulates companies in Australia. This Act contains the main key legal rules that govern and facilitate the formation, management, operation and termination of companies.
Another important source of rules that govern companies is Case law. This ‘common law’ system of law includes looking at recorded decisions of the court, and thus, acts as binding statements in which statuary provisions are to be interpreted. Those decisions may be legal rules not recorded or recorded fully in legislation.
Another important source for companies is the ASIC Act (Australian securities and investments commission) Act 2001. This Act establishes ASICS and gives powers to administer the …show more content…
The way in which decision-making is divided depends on the company’s internal governance rules and the law.
BlueRock Ltd it can be argued is a shareholder since it has invested substantially in the company. Thus, the scope of directors’ power of management is determined by S.198 A of the Corporations Act (further a similar provision in the constitution.) in Section 198 A (1) states that “the business of the company is to be managed by or under the direction of directors.” Further, Section 198 A (2) goes on to state that “the directors may exercise all the powers of the company except any powers that the Corporations Act or the company’s constitution (if any) required the company to exercise in general