【分析解答题】

In 2000,Alfred and two friends formed a bicycle manufacturing company calledBikes (Pty) LtD、The main objects were stated to be:(1) To manufacture and retail bicycles;(2) To borrow money.(3) To support retired employees and their dependants financially.At the end of the main objects clause, it was stated that all clauses are to be read independently of the others.Initially, the company did well but as competition grew, it faced increasing difficulties to sell its bikes. It was decided to modify the factory and use it to manufacture paints and pigments. Initially, the manufacturing was to be done by another company and the paints and pigments, supplied in big vats, were to be packed byBikes (Pty) Ltd in smaller tins for sale in the retail market.Bikes (Pty) Ltd did not alter its memorandum of association.Alfred then entered into the following contracts on behalf of the company as a managing director:(a) The purchase of paints and pigments in vats fromBrightChemicals;(b) The purchase of machinery to manufacture paints and pigments fromBest Manufacturers;(c)

A、loan of R50,000 from NewBank Ltd to finance the new venture. This loan was paid intoBikes (Pty) Ltd’s bank account which had a credit balance of R5,000;(d)
A、payment of R5,000 to Hope, the widow of the retired factory supervisor, who was in financial difficulties.Required:Discuss the validity of these contracts under company law. (10 marks)