Business and corporate law

980 Pages·2017·6.51 MB·English

by  Enshen Li

BUSINESS AND CORPORATE LAW
ThomsonReuters(Professional)AustraliaLimited
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BUSINESS AND
CORPORATE LAW
Compiled by
Enshen Li
Lecturer in Law
The University of Queensland
SECOND EDITION
PublishedinSydneybyThomsonReuters(Professional)AustraliaLimited
ABN64058914668
19HarrisStreet,Pyrmont,NSW
ISBN:9780455239170
©2017ThomsonReuters(Professional)AustraliaLimited
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PUBLISHER'S NOTE
Textcompilation
This publication has been prepared by drawing upon material from the
following Thomson Reuters (Professional)Australia titles:
• Jeswynn Yogaratnam and Lidia Xynas, Corporations Law: In Principle (10th
ed, Lawbook Co., 2017)
• Shayne Davenport and David Parker, Business and Law in Australia (2nd ed,
Lawbook Co., 2015)
• Christine Miles and Warwick Dowler, A Guide to Business Law (21st ed,
Lawbook Co., 2015), chapters in this publication updated 2016
• Clive Turner and John Trone, Australian Commercial Law (31st ed, Lawbook
Co., 2017)
Pagination,paragraphs,cross-referencesandfootnotes
The content of this book has been re-paginated and re-paragraphed to run
consecutively.
Where a reference is made to text not contained within this publication, the
original reference remains, with an indication of its origin, ie (Miles),
(Davenport) and (Yogaratnam).
Footnoting in the text has been re-numbered to run chronologically within
each chapter.
v

TABLE OF CONTENTS
Publisher’sNote........................................................................................................v
Table of Cases ............................................................................................................. ix
Topic1:IntroductiontotheAustralianLegalSystem....................1
Topic2:Contracts:FormationandContents...............................45
Topic3:Contracts:ValidityandEnding......................................111
Topic4:SaleofGoods..............................................................183
Topic5:CompetitionandConsumerLaw..................................213
Topic6:Introductiontotorts(negligence)................................271
Topic7:LawofAgency.............................................................335
Topic8:IntellectualProperty...................................................355
Topic9:BusinessOrganisations................................................475
Topic10:InternalRules............................................................537
Topic11:Meetings....................................................................557
Topic12:CorporateLiability:Contract,TortandCrime.............583
Topic13:DirectorsandOfficers.................................................611
Topic14:RemediesforMembers..............................................745
Topic15:ShareCapital.............................................................797
Topic16:TransactionsAffectingShareCapital.........................809
Topic17:LoanCapital...............................................................831
Topic18:Fundraising................................................................851
Topic19:ExternalAdministration.............................................877
Index.........................................................................................903
vii

TABLE OF CASES
A
A-OneAccessoryImportsPtyLtdvOffRoadImportsPtyLtd(1996)65FCR
478.....................................................................................................8.100
ASchroederMusicPublishingCoLtdvMacaulay[1974]1WLR1308..........................3.356
AAPTLtdvCable&WirelessOptusLtd(1999)17ACLC974..........................12.340,12.350
ACCCvANZBankingGroupLtd[2013]FCA1206...................................................5.155
ACCCvApplePtyLtd[2012]FCA646...............................................................5.640
ACCCvBytecardPtyLtdVID301/2013(filed19April2013).......................................5.920
ACCCvCGBerbatisHoldingsPtyLtd(2003)214CLR51..........................................3.240
ACCCvColgate-PalmolivePtyLtd(No2)[2016]FCA528........................................5.130
ACCCvFlightCentreLimited(No2)[2013]FCA1313..............................................5.160
ACCCVIGCDorelPtyLtd[2010]FCA1303..........................................................5.425
ACCCvJewelleryGroupPtyLtd(No2),The[2013]FCA14......................................5.630
ACCCvJurliqueInternationalPtyLtd[2007]FCA79..............................................5.410
ACCCvLinkSolutionsPtyLtd(No3)[2012]FCA348.............................................5.390
ACCCvLuxDistributorsPtyLtd[2013]FCAFC90.................................................5.590
ACCCvMetriconHomesQldPtyLtd[2012]FCA797.............................................5.660
ACCCvPfizerAustraliaPtyLtd[2015]FCA113.....................................................5.320
ACCCvPowerballwin.com.auPtyLtd[2010]FCA378............................................5.585
ACCCvSnowdaleHoldingsPtyLtd[2016]FCA541...............................................5.585
ACCCvTPGInternetPtyLtd(2013)250CLR640;[2013]HCA54...............................5.584
ACCCvTaxsmartGroupPtyLtd[2014]ATPR42-473;[2014]FCA487........................8.2800
ACCCvTelstraCorporationLtd(2007)244ALR470;[2007]FCA1904........................5.585
ACCCvTycoAustraliaPtyLtd[1999]FCA1799.....................................................5.115
ACCCvVisyHoldingsPtyLtd(No3)[2007]FCA1617......................................5.115,5.120
ANZBankingGroupLtdvAustralianGlass&MirrorsPtyLtd(1991)9ACLC702............12.170
ANZBankingGroupLtdvFrenmastPtyLtd[2013]NSWCA459;(2013)282FLR
351......................................................................................7.115,12.60,12.130
ANZBankingGroupLtdvWestpacBankingCorporation(1988)164CLR662................3.731
ANZExecutors&TrusteeCoLtdvQintexAustraliaLtd[1991]2QdR360....................12.30
ANZExecutors&TrusteeCoLtdvQintexLtd(1990)8ACLC791...................13.940,13.950
ASCvDonovan(1998)28ACSR583.............................................13.480,13.540,13.670
ASCvGallagher(1993)11WAR105.................................................................13.660
ASICvAdler(2002)168FLR253..13.280,13.380,13.480,13.490,13.500,13.520,13.540,13.590,
13.620,13.660,13.700,13.720,13.760,13.1080,13.1240,13.1250,13.1370,16.470,16.480,16.520
ASICvAustralianInvestorsForum(No2)(2005)53ACSR305................................13.540
ASICvAxisInternationalManagementPtyLtd(2011)81ACSR631...........................18.100
ASICvChemeqLtd(2006)234ALR511..............................................................13.80
ASICvCitrofreshInternational(2007)164FCR333..............................................13.435
ASICvCitrofreshInternationalLtd(No2)(2010)77ACSR69..................................13.435
ASICvDeloitteToucheTohmatsu(1996)70FCR93.............................................14.740
ASICvFortescueMetalsGroupLtd(2011)190FCR364.........................................13.622
ASICvFortescueMetalsGroupLtd(No5)(2009)264ALR201................................13.622
ASICvGallagher(1993)11WAR105................................................................13.590
ASICvHealey[2011]FCA717..........................................................................13.614
ASICvHellicar[2012]HCA17......................................................13.580,13.586,13.660
ASICvMacdonald(No11)(2009)230FLR1.......................................................13.640
ASICvMarinerCorporationLtd[2015]FCA589..................................................13.765
ASICvMaxwell[2006]NSWSC1052................................................................13.435
ASICvNRMA(2002)43ACSR451....................................................................11.140
ASICvNarain(2008)169FCR211....................................................................13.435
ix
BusinessandCorporateLaw
ASICvPlymin(2003)175FLR124..............................13.280,13.480,13.800,13.830,13.840
ASICvRich(2003)174FLR128.................................13.540,13.590,13.610,13.620,13.680
ASICvRich(2004)50ACSR500....................................................................13.680
ASICvSomerville(2009)77NSWLR110...........................................................18.240
ASICvVines(2003)182FLR405.........................................13.520,13.540,13.610,13.690
ASICvVines(2006)58ACSR298................................................13.584,13.590,13.690
ASICvVines(2007)62ACSR1..............................................................13.600,13.620
ASICvVines(2007)63ACSR505....................................................................13.690
ASICvVizard(2005)145FCR57.................................................13.280,13.1210,13.1250
ASICvWarrenmangLtd[2007]FCA973...........................................................13.435
ASICvWellingtonCapitalLtd[2012]FCA1140......................................................14.20
AWAvDaniels(1992)10ACLC933...................................................................6.530
AWALtdvDaniels(1992)10ACLC933.................................13.582,13.640,13.660,13.680
AXAAsiaPacificHoldingsLtdvDirectSharePurchasingCorpPtyLtd[2009]
FCAFC15...............................................................................................14.74
AbdurahmanvField(1987)8NSWLR158...........................................................3.270
AberfoyleLtdvWesternMetalsLtd(1998)84FCR113.........................................18.100
AcehillInvestmentsPtyLtdvIncitecLtd[2002]SASC344.....................................14.350
AdamsvASIC(2003)46ACSR68...................................................................13.280
AdamsonvWestPerthFootballClubInc(1979)39FLR199.....................................3.331
AddsteadPtyLtd(inliq)vLiddanPtyLtd(1997)70SASR21...........................12.30,13.940
AdeelsPalacePtyLimitedvMoubarak;AdeelsPalacePtyLimitedvBou
Najem(2009)260ALR628;[2009]HCA48............................................6.610,6.820
AdlervASIC(2003)179FLR1........................13.280,13.480,13.490,13.1370,16.470,16.520
AdlervDPP(Cth)(2004)149ACrimR378...............................................13.470,13.500
AdministrationofTerritoryofPapuaandNewGuineavLeahy(1961)105CLR6............2.291
AdvanceBankAustraliaLtdvFleetwoodStarPtyLtd(1992)10ACLC703.12.100,12.140,12.170
AdvancedBuildingSystemsPtyLtdvRamsetFasteners(Aust)PtyLtd(1998)
194CLR171...........................................................................................8.1810
AdventInvestorsPtyLtdvGoldhirsch(2001)19ACLC580.....................................14.410
AgriculturalLandManagementLtdvJackson(No2)[2014]WASC102......................13.825
AirpeakPtyLtdvJetstreamAircraftLtd(1997)73FCR161............................14.710,14.720
AirservicesAustraliavFerrier(1996)185CLR483...............................................19.250
AkibavCommonwealth(2013)250CLR209;[2013]HCA33.....................................1.260
Al-ShennagvStatewideRoadsLtd[2008]NSWCA300.........................................9.950
AlexandervCambridgeCreditCorpLtd(1987)9NSWLR310..........................6.440,6.530
AlexandervRayson[1936]1KB169..................................................................3.316
AllcoFundsManagementvTrustCompany(REservices)Ltd[2014]NSWSC
1251...................................................................................................13.1128
AllenvAtalay(1993)12ACLC7.......................................................................14.710
AllenvFeatherProductsPtyLtd(2008)65ACSR642...........................................9.950
AllenvGoldReefsofWestAfricaLtd[1900]1Ch656...........................................14.320
AllerganIncvDiGiacomo(2011)199FCR126.....................................................8.2325
AlliedMining&ProcessingLtdvBoldbowPtyLtd(2002)169FLR369......................13.250
AlphapharmPtyLtdvHLundbeckA/S(2014)254CLR247....................................8.2040
AlpineBeefPtyLtdvTrycillPtyLtd[2010]FCA136...............................................4.680
AluminiumIndustrieVaassenBVvRomalpaAluminiumLtd[1976]1WLR676.....4.520,17.160
Amaca&OrsvEllis[2010]HCA5.....................................................................6.820
AmacaPtyLtdvBooth(2011)246CLR361.........................................................6.450
AmacaPtyLtdvEllis(2010)240CLR111;[2010]HCA5...........................................6.820
AnaestheticSuppliesPtyLtdvRescareLtd(1994)50FCR1...................................8.1830
AncherMortlockMurray&WoolleyPtyLtdvHookerHomesPtyLtd[1971]2
NSWLR278...................................................................................8.180,8.350
AndersonvGlass(1868)5WW&AB(L)152........................................................2.351
Angus&CootePtyLtdvRender(1989)16IPR387.............................................8.2750
AnnettsvAustralianStationsPtyLtd(2002)211CLR317........................................6.370
AnsellRubberCoPtyLtdvAlliedRubberIndustriesPtyLtd[1967]VR37..................8.2720
AnsonsPtyLtdvMerlexCorporationPtyLtd(2001)162FLR443............................13.300
x