Explain the court’s methodology depends on the following two crucial matters:-
The Declaration correctly abridged content of the framework contracts
Binding contract pointed out in reference to the parties who have entered into contract are the parties who are intended to be binding.
The Case tells us about how the issues on declaration related to agreements of companies were handled by different hierarchy of courts.
Announcement regarding the Pilbara Iron Ore mine made by FMG in 2004 with regard to “binding” framework agreements Announcement was labeled as deceptive and misleading by ASIC The matter lands up in Court in 2006 Trial Judge passes verdict ASIC appeals to the Full Court FMG appeals to the High Court
Section 674(2), Corporations Act 2001 Continuous disclosure of material information Section 1041H, Corporations Act 2001 Prohibits from providing any deceptive or misleading information Section 180, Corporations Act 2001 Duty of director (care and due diligence)
ASIC Non- binding nature framework agreement Violation of s674(2) and s1041H by FMG S.180 violation by Forrest Full Court of the Federal Court FMG found guilty besides Forrest guilty of breach of s. 180 High Court Trial judge approach severely criticized Correctness of stated facts significant The intended audience interpretation the key determining factor
High Court Decision Ruled in favor of FMG and Forrest Implications Companies Intended audience to be considered Facts have to be stated accurately Future Cases The conduct is deceptive or not would depend on the perceived meaning by intended audience.
Our Amazing Features
No missing deadline risk
No matter how close the deadline is, you will find quick solutions for your urgent assignments.
100% Plagiarism-free content
All assessments are written by experts based on research and credible sources. It also quality-approved by editors and proofreaders.
500+ subject matter experts
Our team consists of writers and PhD scholars with profound knowledge in their subject of study and deliver A+ quality solution.
Covers all subjects
We offer academic help services for a wide array of subjects.
We care about our students and guarantee the best price in the market to help them avail top academic services that fit any budget.
Getting started with MyEssayAssignmentHelp is FREE