Resulting to your inquest I ought to draft two exclusion clauses which possibly will be operative towards Enterprise Ltd requirements. Clients have a duty to be conscious that every agreements acknowledged by Enterprise Ltd remain substance to these terms and by creating such contracts clients make sure that they have accepted to be unavoidable by Enterprise Ltd terms. Lost or stolen property Clients are instructed that Enterprise Ltd will not be in charge for any lost property despite the fact that the business is in line for client’s poor memory, lack of attention or negligence. In such cases Enterprise Ltd is to be found not considered as their liability. (Not subjected to items which were specifically Enterprise Ltd.’s care).
Wonder failed to meet the responsibilities when he did not inform Steve about his dealings. A director must not let his personal interests and company duties and responsibilities conflict. This is a fundamental rule of Equity (Phipps-V-Boardman (1967)2AC123). A director may not apply company property either for his personal interests or for the benefit of any other person without the authority of the company. As Wonder breached the contract and did not fulfil the duties and responsibilities as a Director of the company, Steve can succeed under the corporations Act 2001 (cth) and the case law in having the contract relating to the bank loan (mortgage) declared as invalid.
A restraint in trade is unenforceable unless deemed reasonable by the courts. A clause has been drafted and once a franchise agreement comes to an end, that franchisee will not be able to continue to run a gym that would compete with Lean Club. 1 Introduction 1.1 Purpose The purpose of this report is to advise Ella in whether she can legally achieve her desires if she decides to franchise Lean Club. Draft clauses will also be included in order to cater towards such goals. 1.2 Scope This report will address four key objectives surrounding franchisees: 1) Charging the same price.
A contract can be legally binding with its written format. However, a social or domestic agreement conduct by verbally cannot be enforce and claim. For an agreement to become a legally binding contract, all parties must have intention to create legal relationship. It means parties who enter into a legal agreement must have business relation to make the agreement enforceable. In case of Errington v Errington Wood , ”Father bought house for son and daughter-in-law.
Hence the auditor should perform their duties with due diligence and vigilance to assure the stakeholders about the truth and fairness of the financial statements. It also helps in reducing the chances of fraud and improper accounting. However, to achieve proper safeguarding and corporate governance, an independent auditor is required. Such auditor should not be related to the company or is directors in any way. He should not be a shareholder or be in debt of the company.
Jim has come for advice about easement and he wants to exclude Jesse’s clients from the car park. The fact suggests that the easement was created by the previous owner and registered under Torrens. By registration, the easement and the accompanied plan will be transferred and into Jim’s certificate of title-schedule 2 . It is an express easement and it is legal; not equitable. It is also indefeasible as no exception appears to apply in this case.
No restriction on share transfer on stock exchange, USM and AIM but must keep track of who has shares. Encourages investment into company by share ownership by paying dividends. Can be exempt from the statutory requirement to have its year end accounts audited. Has legal requirement concerning allotted share capital – must be equal or greater than fifty thousand pounds. Can not exercise its borrowing powers or enter business transactions until the registrar has granted it a section 117 certificate.
Restrictive Covenants In the situation described in this problem, a restrictive covenant would be the best way to protect the company's interests. Although the implied terms of employee confidentiality regarding company information would be valid in this case, they wouldn't stop an employee working with rivals. All doubt should be removed by the inclusion of a clause in which the employee undertakes not to carry on a particular trade or profession for a period after the termination of the contract. It would permit the company to seek a interim interdict in court against Dr MGleam and Ms Wilkes preventing them from breaching the covenant. Restrictive covenants are common in many contracts (partnership, share holders, buyer-seller) including employment contracts.
Independence has always been associated with integrity and objectivity. Since faults on financial statements may be the result of either a honest mistake or a lack of integrity it is imperative to associate the notion of independence with the objectivity and integrity. As part of the requirements by the Code of ethics, CPA should avoid any relationships that may result in the CPA's becoming dependent on the particular client. Such relationships include financial interests and client management. It is very important that the opinion of the CPA reflects the results of operating decisions taken by the client and not any underlying ideas which may be the case if a CPA takes part in the decision making process of the company.