Business Law Is also Known as commercial law.Business law is the law applies on all the business related entities.Business Law used for the partnership related problems.contracts.Business Law are also used in corporations.As per the facts of the case Able, Bella, Claude and Zac are the Directors of Maple Pty Ltd (Maple). The Managing Director of Maple is Bella but she does not like the hard work that is involved in running the company. She manages her affairs after taking advice from her sister Daisy who has studied accounting.
Zac also owns a large planting and saw milling company. The company is aware regarding the same. The shares of the Maple are held by members of Brown family. There are 1000 shares that are issues by the company. Every Director of the company owns 200 shares and every family member own 20 shares each. The shares have equal voting rights. The family shares have 10% right in dividend of the rate of management class. The company is governed by replaceable rule and the company chair is elected in the meeting.
Claude and Zac are interested in opening a new branch of Maple and had prepared large plans for the same and concluded that the new branch can lead to high end profits. Bella is not interested in any business expansion plan. It was advised by Daizy to Bella that the company is in financial trouble and thus no business expansion programme should be undertaken at this point of time.