This website uses cookies to ensure you have the best experience. Learn more

Ilac Case Study Legal Issues For Managers Griffith Business School

1132 words - 5 pages

Corporations ILAC Hypothetical Problem Solving Question:

Sheldon, Leonard and Howard are directors of Genius Enterprises Pty Ltd (Genius), a company based in Brisbane that provides laboratory equipment to laboratories, universities and other research facilities.

On 1 September 2016, at the monthly directors’ board meeting, the directors decided that the current wholesaler who supplies the company with test tubes is too expensive, and they should source cheaper test tubes. Howard suggests that they buy test tubes manufactured by Lab Stuff Ltd (Lab Stuff). Howard says that he has heard good things about this company as it uses a revolutionary new manufacturing technique, which means it is able to produce the test tubes significantly cheaper than rival companies. Based on Howard’s recommendation, Genius enters into a contract with Lab Stuff to purchase test tubes from it exclusively for the next 5 years. Howard does not at any time disclose that his wife Bernadette is one of the directors of Lab Stuff.

On 16 September 2016, while Howard is having dinner with Bernadette, she tells Howard that Lab Stuff has just signed a contract to exclusively supply the United States government with test tubes and that its shares are “bound to skyrocket”. Bernadette swears him to secrecy because news of the contract has not been announced to the public yet. Excited by this news, Howard immediately buys personal shares in Lab Stuff that evening using money from his own bank account, without telling Bernadette.

In early October 2016, the Chief Financial Officer (CFO) of Genius, Raj, has a meeting with Sheldon, Leonard and Howard to discuss the company accounts. Sheldon, being forgetful, suddenly remembers that he purchased a bulk order of microscopes on credit on behalf of the company amounting to $30,000 in June 2016. Back in June when he made the purchase, he was busy inventing a new stain resistant fabric that could be used for making lab coats. As he was pre-occupied with his invention, he forgot to tell the other directors about the purchase, and he also forgot to give Raj the bill for the microscopes so that it could be paid when it became due. Sheldon does not tell his fellow directors about his oversight, as he is too embarrassed to admit that he simply forgot about the purchase. The business that sold Sheldon the microscopes sent a letter to Genius demanding payment of the money that is owed, plus interest on the unpaid amount for the last 4 months.

Raj has now become aware of all of the above facts and has asked for your advice. Using only the Corporations Act 2001 (Cth) and the common law cases, advise Raj using the ILAC method.

Note: Do NOT discuss s184 Corporations Act 2001 (Cth) as part of your answer.

~ END OF HYPOTHETICAL FACTS~

Issues
1. Is Howard an Officer of Genius?
2. Did Howard use his position as a director of Genius for a proper purpose or for...

Find Another Essay On ILAC case study - legal issues for managers - Griffith Business School

E Business Legal Issues Essay

718 words - 3 pages subsidiary company resides in. Jurisdiction for these issues would be in the country that subsidiary is located. The parent company can mitigate these issues by creating policy guidelines for each subsidiary that are tailored to the location along with training for all managers within the worldwide organization.ReferencesRetrieved April, 13,2007 .The E Business Survival Kit, from http://www.piperrudnick.comRetrieved April 11, 2007.A to Z of Legal Issues, Everything you need to know from A to Z about going online and staying out of legal hot water, from http://www.entrepreneur.com/ebusiness/operations/article60918.html

Ethical Issues for Today's Managers Essay

636 words - 3 pages thical Issues for Today's Manager LeChandra M. Fields 5 March 2014 Athens State University Professor James Kerner Ethical Issues for Today's Manager Managers today have a lot of responsibilities. A manager is responsible for hiring, training, motivating; along with other many other things. While dealing with their responsible, they have to make sure that every step taking is ethical. Hiring In this process, management has to recruit and

disney case study for marketing - school - disney

552 words - 3 pages CASE STUDY: DISNEY ECO SYSTEM CONDITION Strategic alignment: It is strong, stay relevant and current with it’s core audience while staying true to it’s heritage and core brand values. It is customer loyalty and brand loyalty and has muti level strategy. Disney work hard to connect with it’s customers on many level through every single detail. Disney use technology to ensure that a customer experience is consistent across every platform. Access

Case Study: Swatch And The Global Watch Industry International Business, Repositioning Strategies, Marketing, Management Issues, And Recommendations For Growth

1734 words - 7 pages resolved in order for success to prevail. Management issues were plaguing Swatch; multiple key figures stepped down from the board in the mid 1990's citing the CEO's inability to listen to his staff. In addition to the management issues, Swatch was also facing fierce competition in many market spaces, including the largest consumer base space, the United States. In addition to lack of market penetration in the United States, Swatch had too many

Legal Case Study

2047 words - 8 pages Legal Case Study The American Automobile industry has historically been tied to the nations economic cycle in which three or four years were good followed by one or two poor years. In 1977 there were four major U.S. automakers including General Motors, Ford, Chrysler and American Motors. Imports were starting to make their presence in the market because they offered subcompact cars at reasonable prices. Ford

Legal Case Study

1859 words - 7 pages Legal Case Study This case is about the disagreement between Simpsons Ltd v Thowers Ltd. The carrier’s liabilities will be discussed in three parts, firstly to resolve the problem, I am going to give a short

BWC Legal Case Study

2783 words - 12 pages is advised that BWC engages in a DB module on a Lump Sum or GMP contract basis. The fact that previous designs may be utilized to some degree would reduce the need for whole complete design sets, thus the need to hire designers solely for the purpose of design may work out as the more expensive option when compared to only design review and modifications to suit the new project. 5- Further issues about constructability and buildabilty can be

Homicide Case Study R v. Gittany - Griffith University, Criminology and Criminal Justice - Case study

1790 words - 8 pages it was "like living in a hotel" (R v Gittany, 2014). After completing his Higher School Certificate, Mr Gittany was employed as a tiler whilst studying a TAFE course which he did not complete. His employment history was described as sporadic, as he rarely remained at any job for longer than six months (R v. Gittany, 2013). Mr Gittany undertook courses in religious studies and dramatic arts but did not complete them. He reported working for three

Balanced Snacking - Harvard Business School Case Study - Master of Business - Case Study

538 words - 3 pages Student: DESCRIPTION OF A CASE BRIEF CASE 3 – Balanced Snacking Chen and Gupta need to define their definite business model in terms of product variety, production, supply and how they want to be seen as a brand. From my point of view, a D2C model would work and is their best way to go. Chen has a good knowledge in terms of Facebook marketing and Gupta has the expertise in E-Commerce and a VC background. By using those sales and online marketing

Ethical, Legal, and Professional Issues in Counseling - University of San Francisco - Case Study, Assignment

674 words - 3 pages Introduction The professional codes of ethics and standards of practice for licensed mental health professionals provides guidelines for therapists when faced with ethical issues that are difficult to resolve. Therapists are expected to engage in a careful review of ethical decision-making process and utilize available resources as needed. This paper provides summary of a journal article titled “When Good Enough isn’t” It identifies legal or

Aqualisa Quartz is case study of Harvard business school

1527 words - 6 pages not to over-state the market potential of the Quartz yet large enough so as to account for those customers.Source: Moon, 15.Works CitedMoon, Youngme and Herman, Kerry. Aqualisa Quartz: Simply a Better Shower. Case. Boston, MA: Harvard Business School, 2002.

Similar Essays

Legal And Ethical Issues In School Counseling

1735 words - 7 pages going into the school counseling profession. It is also a meaningful topic to me because life-changing decisions are made every day in reference to legal and ethical issues. Researching this topic has shed some light on the difficulty for school counselors to fulfill both legal and ethical requirements. The main reason for this is that laws and ethical codes may sometimes provide differing and contradictory messages regarding the same subject

Legal Issues Case Study For Nursing

1069 words - 4 pages Legal Issues Case Study for Nursing Case 2 Nursing Situation: Cindy Black (fictitious name), a four-year-old child with wheezing, was brought into the emergency room by her mother for treatment at XYZ (fictitious name) hospital at 9:12 p.m. on Friday, May 13. Initial triage assessment revealed that Cindy was suffering from a sore throat, wheezing bilaterally throughout all lung fields, seal-like cough, shortness of breath (SOB), bilateral ear

Legal Issues In Nursing For Bsn. Case Study

1152 words - 5 pages Running head Case 1Legal Issues Case StudyCase 2Nursing Situation:Cindy Black (fictitious name), a four-year-old child with wheezing, was brought into the emergency room by her mother for treatment at XYZ (fictitious name) hospital at 9:12 p.m. on Friday, May 13.Initial triage assessment revealed that Cindy was suffering from a sore throat,wheezing bilaterally throughout all lung fields, seal-like cough, shortness of breath (SOB), bilateral ear

Accounting Information For Managers School Of Business Research

813 words - 4 pages , 'Business sustainability', in 5 th (ed.), Accounting: business reporting for decision making, John Wiley & Sons Australia, Milton Qld, pp. 40-75. Birt, J, Chalmers, K, Maloney, S, Brooks, A, Oliver, J 2014, 'Introduction to accounting', in 5 th (ed.), Accounting: business reporting for decision making, John Wiley & Sons Australia, Milton Qld, pp. 5-7. Government of health 2005, Patient confidentiality & divulging patient information to third parties, viewed 22 September 2015, < http://www.health.wa.gov.au/CircularsNew/attachments/234.pdf>.