Question 1 (7 marks) Answer the following questions: (a) What types of organisations should consider incorporation under the associations' incorporation legislation of the states and territories (3.5...

FINAL ASSESSMENT
Student Number: (enter on the line below)
Student Name: (enter on the line below)

HA3021
CORPORATIONS LAW
final assessmeNt
TRIMESTER 3, 2021
Assessment Weight:     50 total marks
Instructions:
· All questions must be answered by using the answer boxes provided in this paper.
· Completed answers must be submitted to Blackboard by the published due date and time.
Please ensure you follow the submission instructions at the end of this paper.
Purpose:
This assessment consists of six (6) questions and is designed to assess your level of knowledge of the key topics covered in this unit.
            
        
HA3021 Final Assessment T3 2021
Question 1    (7 marks)
Answer the following questions:
(a) What types of organisations should consider incorporation under the associations' incorporation legislation of the states and te
itories (3.5 marks)
ANSWER a): ** Answer box will enlarge as you type
The various types of organization which needs to be considered as per the associations’ incorporation legislation consists of the following:
-The non-profit companies which are formed for being a part of small scale activities with non-profit motives.
-The community groups are also a part of this organization
-The organizations which are presently unincorporated or are incorporated as per other legislation
(b)    What reasons can you put forward for a body to incorporate under this legislation?
(3.5 marks)
ANSWER b):
The reasons due to which the body to be incorporated under this legislation is that the organization which is incorporated gets recognized in the form of a legal entity which is entirely distinct from its members. Due to this reason the employees and senior management personnel of the organization are being protected from being paying off the debts or liabilities during the winding up of the company.
Incorporation is considered to be significant as the organization is considered as a separate distinct legal entity which can sue and be sued by its own name. But the members of the organization cannot be held personally liable for such act if something goes wrong for the company.
Also, incorporation of a company helps a company to become a continuous existence entity despite the death of any of its members.
Finally, the organization must be incorporated as the government departments can fund the organizations which are being incorporated.
Question 2    (7 marks)
Explain the legal basis of the relationship between a principal and an agent.
ANSWER:
A person who is not of unsound mind or a minor and have the legal capability to perform certain activities is called the principal. The principal may empower an agent who will be able to ca
y out such acts. The principals may be a person, corporations or government organziations who appoints agents. A contract is being made by an agent on behalf of the principal. This contract is considered to be...