HI6027- Business and Corporate Law (Group Assignment)............docx

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Contract and Corporation Law
ContentsINTRODUCTION...............................................................................................................3PART A..............................................................................................................................3PART B..............................................................................................................................5PART C..............................................................................................................................8CONCLUSION...................................................................................................................9REFERENCES................................................................................................................10
INTRODUCTIONContract law is concerned with the proper protection of commitments made in order toconstitute a legal relationship for following out the aforementioned acts (Rowan, 2017,PP, 805). A contract is a formal plan that lists and controls the rights and liabilities of theboard to an arrangement. An agreement is legally binding since it satisfies the criteriaand authorization of the law. A contract usually entails the movement of money,services, money, or the guarantee of any of these. "Breach of contract" implies that thelaw must grant the aggrieved party access to proper measures like compensation orcancelation. A contract is a legally binding arrangement involving two or more personsin which each side has legal duties that must be met. The corporations act is theprimary piece of law that governs businesses. It is in charge of entity establishment andgrowth, officer responsibilities, acquisitions, and financing. This study is based on law ofcontract laws pertaining to the cancellation of an arrangement and the recovery ofpenalties from the non-complainant party (Savelyev, 2017, PP, 116-134). Moreover, itcovers the mechanics and fundamentals of corporate law concepts, with an emphasison agency and company foundation.PART AIssueThe case study presented here is about a marriage pair named Mark and Marina whowere wedded at a hotel called Hotel Grand Inquisition, which offered a variety ofservices including an auditorium, cakes, caterers, and so on. They entered a deal withthe resort to use all of these amenities. They were, however, surprised to get a cakethat's not the one for that they had contracted. In other terms, one of the serverscarelessly spilled the cake, and the staff did not have time to build another three tirecake as required in the agreement, so spongy bread from a bakery store was delivered.In addition, they had to move out of the hotel owing to the dust and noise caused byconstruction in the adjoining guest room. Mark also refused to pay the restaurantmanager when they checked out because of the problem they had to confront thatcaused them to depart the present hotel at 1 a.m. Mark told the head chef on his way
out of the resort that the evening had been a catastrophe and that the restaurant "wouldnot have been collecting a dime extra out of all of us." They also stated that they willconsult with their attorney in the afternoon.Mark and Marina, do you have the authority to annul the agreement? What are thefinancial damages to which they are obligated? And whether they can keep the $5000they budgeted to the hotel?RulePeople with contractual ability can enter it, as per Australian Common Law of contract,which would be based on English law. It is not governed by a single legislation, butrather by judgments issued by several courts around the country (Australian CommonContract, 2021, PP, 2-3). Moreover, there are certain fundamental rules that state that

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Term
Spring
Professor
N/A
Tags
Law, Gazza, Australian Corporations Act

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