ONLINE ASSIGNMENT QUESTION
Anil, along with his wife, Billy, and family friend, Charlie, started a property development business in 2015. The main activities of the business are to purchase land and develop buildings, and sell these to clients, especially ‘mum and dad’ investors.The business is conducted through a corporate structure called Vision Property Investments Pty Ltd (“Vision”). Anil, Billy, and Charlie are the only shareholders and directors of the company. Anil is a director and secretary, Billy is a director, and Charlie is a director and solicitor of the company.
LAW2300 Corporate Law II Assignment-Edith Cowan University Australia.

LAW2300 Corporate Law II Assignment-Edith Cowan University Australia.

The constitution of “Vision” nominates that Charlie will be the solicitor for any land purchases or sales made by the company. The articles also provide that any disputes which may arise between the company and its members should be first referred to an arbitrator before there are any court proceedings.

In 2020, Anil and Billy met another solicitor, Doug, who they believed to be more efficient than Charlie and they appointed him (Doug) as solicitor for “Vision”. Since then, Charlie has brought legal action against “Vision” over the matter.

In January 2021, Billy went to the bank NBC Bank Ltd (“NBC”) where “Vision” holds its accounts and she told the bank manager that the company needs to borrow $900,000 for purchasing new land. The bank manager agreed to this, on condition that the bank take security over the major asset of the company, which is the building from which “Vision” operates and in which Anil and Billy live. However, Billy intends to use the money to run away with Evan, who she has recently met at a corporate event. Anil has no knowledge of her (Billy) activity. Billy obtained the loan and mortgage documents from the bank. She (Billy) affixed the common seal of “Vision” and forged her husband’s signature as secretary. The bank advanced the money and Billy absconded with it to Switzerland.

In this circumstances Anil, on behalf of “Vision, seeks your advice:

a) Is “Vision” liable under the loan contract and mortgage with the NBC Bank Ltd?
b) Is Charlie entitled to challenge the Board’s decision to remove Charlie from the position of company solicitor and the appointment of Doug, as company solicitor?

LAW2300 Corporate Law II Assignment-Edith Cowan University Australia.

LAW2300 Corporate Law II Assignment-Edith Cowan University Australia.

Fully justify your answer, citing the relevant provisions of the\ Corporations Act 2001 (Cth) and case laws in authority.

(Please note that you are not required to discuss “the duties of officers and directors” for this question.)

ASSIGNMENT INSTRUCTIONS:
1.Type: The online assignment is a problem-solving type and students are required to follow IRAC format (Issue-Rule Application-Conclusion) for this assignment.
2.Marks: 20%
3.Marking Criteria: The assignment will be marked according to the marking rubric below.
4.Word count: maximum 2000 words.
5.Deadline for submission: Students must submit the assignment by Friday, 23 April 2021, 11:59 pm. An assignment submitted after the designated or extended time for submission shall incur a penalty to be calculated as follows:
• Where the assignment is submitted not more than 5 working days late, the penalty shall, for each working day that it is late, be 5% of the maximum assessment available for the assignment; or
• Where the assignment is more than 5 working days late, a mark of zero shall be awarded.
6.submission of your assignment: Submission must be via turnitin assignment on Blackboard (Assessments Assessment 2 (Online assignment) Online Assignment  View/Complete – Turnitin Submission).
7. Turnitin submission: Turnitin is an electronic text matching system that compares text in a student assignment against a database of sources. The database contains copies of electronic text on the Internet, in published works,on commercial databases, and in assignments previously submitted to Turnitin by students in Universities all over the world, including assignments obtained from Internet sites that sell student papers.

Turnitin provides an originality report which is a report on the similarity between your work and the database sources.

8.Academic misconduct/Plagiarism: The assignment has to be consistent with the ECU rules and policies in regard to academic misconduct. ECU has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

• plagiarism;
• unauthorised collaboration;
• cheating in examinations; and
• theft of other students’ work.

LAW2300 Corporate Law II Assignment-Edith Cowan University Australia.

LAW2300 Corporate Law II Assignment-Edith Cowan University Australia.

For details about plagiarism and how to about plagiarism please see the “How to Avoid Plagiarism” folder in the “Online Assignment” section.

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere. The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website. More information on academic misconduct is available at