COMPANIES & PARTNERSHIP LAW( Business Law)

COMPANIES & PARTNERSHIP LAW( Business Law)

When a company contracts with outsiders, the law should always regards that the company managing director has authoritly to either makethe contract or hold out someone else in the company authorized to make the contract, regardless of wether the managing director has actuarlly been oppointed or is simply held out in that capacity by the company.
The invention is a failure and the company incure extencive losses. The shareholders want to know if they can do anything about the whole situation.
Using the appropriate sections of the corporation ACT and supporting cases, discuss the possible liabilities of super, duper and Rich in relation to the disclosure document.