company law-all Question - Question 1 1 out of 1 points...

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Question 1 1 out of 1 points Which of the following cases is authority for the proposition that the courts will pierce the corporate veil where the corporate form is used to avoid an existing legal duty? Answer Selected Answer: Gilford Motor Co Ltd v Horne (1933). Correct Answer: Gilford Motor Co Ltd v Horne (1933). Response Feedback: Correct answer: 2 Although all the cases listed discuss separate legal personality, only the Gilford Motor case is directly on point. Question 2 1 out of 1 points How does a company amend its constitution? Answer Selected Answer: By a resolution passed by at least 75% of the members Correct Answer: By a resolution passed by at least 75% of the members Response Feedback: Section 136(2) of the Corporations Act 2001 (Cth) provides that amending or repealing a company’s constitution requires a special resolution of members. Question 3 1 out of 1 points
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Which of the following statements about the directors of a company is true? Answer Selected Answer: Directors may delegate their management functions to the company’s executives. Correct Answer: Directors may delegate their management functions to the company’s executives. Response Feedback: In large organisations, directors may delegate management functions to the company’s executives. Option 1 is not true: the officers of the company include its directors. Option 2 is not true: the board of directors generally does not require the approval of the members and need not comply with the instructions of the members. Option 4 is not true: directors may be executive or non-executive directors, and only executive directors are full-time employees of the company. Question 4 1 out of 1 points Northside Developments Pty Ltd v Registrar-General (1990) is authority for the following proposition. Which of these statements is correct? Answer Selected Answer: An outsider who has dealings with the company can assume that the seal has been correctly affixed to a document, unless they know, or are put on inquiry, that the procedure has been incorrectly carried out. Correct Answer: An outsider who has dealings with the company can assume that the seal has been correctly affixed to a document, unless they know, or are put on inquiry, that the procedure has been incorrectly carried out.
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Response Feedback: Northside Developments was decided on the common law exceptions to the indoor management rule, prior to the enactment of the Corporations Act 2001 (Cth) s 128(4), which now refers to actual knowledge or suspicion. Question 5 1 out of 1 points The scope of the board’s power of management is determined by the Corporations Act 2001 (Cth) s 198A. According to s 198A: A. The directors are ultimately answerable to the shareholders. B. The business of the company is to be managed by or under the direction of the directors.
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