Unit Name: Fundamentals of Business and Corporations Law Duration: You are required to attempt a take home problem questions test, from 5pm Friday 11th May to 5pm Saturday 12th May. The take home test requires you to write an answer to the problem questions dealing with material from Lectures 7, 8, and 9 of the semester program. The take home test will be posted on the unit website by 5pm Friday 11th May WST. The test must be submitted through Blackboard before 5pm Saturday 12th May WST. Marks will be deducted for late submission. 如果你从任何教科书或法律资料中直接复制答案，将不会被给予评分。 You will not be awarded marks for copying directly from any textbook or legislation. The take home test has a word limit of 1500 words and it must be typed/word processed unless prior agreement has been obtained from your tutor. 带回家完成的作业，除非已经获得老师批准，否则必须限制在1500个文字以内。The take home test will not be assessed if it exceeds 2000 words. Please ensure that you have checked the document for spelling and grammar before submission.请确保您你所提交的文档中，单词的拼写和句子的语法完全正确。 The take home test MUST be submitted ELECTRONICALLY. 请遵守以下要求： Please observe the following requirements: Font: - Times or similar font - no smaller than 12 point in size Spacing: - 1.5 line spacing, and appropriate paragraph spacing Margin: - at least 2.5cm on the top, left, right & bottom Pages: - Numbered in top or bottom margin Paper: - A4 size paper The take home test must be accompanied with the cover sheet provided with the test and must be received by 5pm WST Saturday 12th May. Once you are satisfied that your take home test is ready for submission, you should save it with a filename as below: Student ID_FirstnameLastname.doc For example: 12345678_JohnSmith.doc or 12345678TakehometestJohnSmith.doc It is important that you don’t include characters other than your student number, underscores and your student name. This means do not include characters such as * or / or ANY SPACES IN THE FILE NAME. Please ensure that you click on the submit button to upload your take home test. Failure to submit the take home test by the due date may result in a zero mark for that part of the assessment. Total Marks: 25 Marks comprising 25% of the final subject grade. QUESTION 1 Susan and Rebecca have been experimenting for the past 10 years and have discovered certain minerals, when used in fabrics makes it wrinkle free. They are thinking of incorporating a company whereby they could mine the minerals and manufacture and market wrinkle free fabrics. They have completed a marketing study and have discovered that the textile industry would be highly interested in this type of fabric for men’s and women’s clothing. Together they have 0,000 and will require a further .3 million to purchase equipment and set the company up. Susan and Rebecca are considering getting a loan from the bank for 0,000 and the remainder million from issuing shares once the company has been registered. Susan and Rebecca would like to keep the affairs of the company private and confidential. Susan would like to be the managing director and Rebecca would like to be the development and marketing director. They would also like to have a constitution with the following clauses: 请指出该公司的业务是否受到了“限制开采矿产和免烫面料的生产和销售”之条款。 · An objects clause stating that the company’s business is to be restricted to mining minerals and manufacture and sale of wrinkle free fabrics. · Any contracts over ,000 require the approval and signature of the managing director. Susan and Rebecca have some legal issues that need to be addressed before they can set up the company with a constitution. With reference to the Corporations Act and case law Susan and Rebecca would like you to investigate the following legal issues: 1. The type and class of company that will best suit Susan and Rebecca. 2. The impact of managers entering into contracts over ,000 without the approval and signature of the managing director. 3. Whether Susan and Rebecca can expand the business by making women’s http://www.liuxuelw.org/flzy/ clothing by using the wrinkle free fabrics.