Companies Act and Pre-incorporation Contracts

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What was the court's consideration in determining the enforceability of a contract involving goods acquired in a prohibited manner?

Public policy (correct)

Economic impact

Legal precedent

Historical context

In the case of Yango Pastoral Co. Pty Ltd v. First Chicago Australia Ltd, what influenced the court's decision to enforce the contract?

The contract value

Vendor's title to the timber logs (correct)

The number of parties involved

The location of the goods

What are the pre-conditions for establishing a contract between a principal and a third party in case of an undisclosed principal?

Agent must not give the impression of acting on his own behalf (correct)

Third party must be aware of the agent's identity

Identity of the principal must not be crucial

Agent must be acting against the principal's wishes

When does the doctrine of undisclosed principal apply in relation to agency contracts?

When the identity of the principal is crucial Signup and view all the answers

What is required for an express appointment to create an agency relationship?

Clear manifestation of consent by both parties Signup and view all the answers

In what circumstances would a court consider a contract void and unenforceable?

If public policy considerations dictate Signup and view all the answers

What is the time limit for ratification of a pre-incorporation contract where no time is specified?

One month Signup and view all the answers

In relation to express ratification, what is the principal entitled to?

Full information and disclosure Signup and view all the answers

In New Ireland Development Corporation Ltd v Arrow Trading Ltd, what did Lay, J state about ratification of unauthorized acts by an agent?

Clear acts of adoption are essential Signup and view all the answers

According to the law, can a principal ratify only part of a contract that benefits them?

No, it is inequitable Signup and view all the answers

In which case was it mentioned that the plaintiff wanted to approbate and reprobate at their convenience?

Jay Mingo Pty Ltd v Steamships Trading Co.Ltd Signup and view all the answers

What is essential according to Lay, J for a principal to render any ratification liable?

Full knowledge of the relevant facts Signup and view all the answers

Which legal principle prohibits taking advantage of only the beneficial parts of an agreement?

Doctrine of restraint upon anticipation Signup and view all the answers

In the context of the text, which case involved the capacity of a married woman to enter into a contract?

Kelner v Baxter Signup and view all the answers

Maurice A Laufa's statement about the applicability of a legal principle to parts of a term rather than just the whole refers to which concept?

Agency by express appointment Signup and view all the answers

Which case mentioned in the text relates to the formation of an agency by express appointment?

Taylor v Smith Signup and view all the answers

Which legal concept restricts married women from anticipating their future property and interests?

Doctrine of restraint upon anticipation Signup and view all the answers

Which case mentioned in the text is associated with the status and implications of statutory corporations?

Union Bank of Australia Ltd v McClintock Signup and view all the answers

Companies Act and Pre-incorporation Contracts

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