United Industries Corporation Ltd is a company with a diversity of business interests. On 1 July 2019 its board resolves to open a chain of hotels, and to raise capital to do this by issuing shares. On 30 July 2019 United Industries issues a prospectus in relation to this share issue. On 4 July 2019 Brad Cooper, its Managing Director, phones Bob Broke and offers him $ 200 000 worth of shares. Bob accepts the offer, but in light of subsequent events now wishes he had not and wants his money back.
Can Bob have his money back?
Solve the case using (IRAC) system
- Issues,
- Rule & Regulations,
- Application of rules & Cases,
- Conclusion
The case has to be solved using Australian Corporation Act 2001. Use minimum of 3 case laws to support and substantiate the evidences.
