It is automatically void under Australian law

It is legally binding if it is incorporated into the company constitution

Shareholders cannot enter contracts with each other

Only directors can enter into binding contracts

Directors are always personally liable for them

They are generally not an issue due to operation of s 124 and s 125

They require ASIC to approve all future contracts

They automatically result in company dissolution

The replaceable rules override the constitution

Eley’s claim is valid since he is a former shareholder

The constitution binds all company employees

The constitution does not create contractual rights for employees

No, director voting rules are always governed by the replaceable rules

Yes, a company constitution can modify director voting rules

Only if the shareholders approve it at a general meeting

Only if ASIC provides written consent

Shareholder rights to dividends

Director voting procedures

The appointment and removal of directors

The company’s business name

These shares convert into ordinary shares after a certain period

If dividends are not paid, preference shareholders lose their rights permanently

The company must buy back the shares within five years

If the company skips dividend payments, they accumulate and must be paid later

Through regular interest payments

By receiving dividends or selling her shares at a profit

By demanding repayment of the principal

By forcing the company to issue bonds

He never has to pay dividends

Investors cannot sell their shares

He must repay the shares like a loan

He raises capital without losing voting control

Godrick is personally liable for the remaining balance

Radahn gains full ownership of the company

The factory may be seized and sold to repay the debt

The loan is automatically forgiven

Cumulative preference shares

Convertible preference shares

Debt-backed preference shares

Redeemable ordinary shares