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atlantic machinery pty ltd has been considering the purchase of new manufacturing facilitiesat cost of $15m....

atlantic machinery pty ltd has been considering the purchase of new manufacturing facilitiesat cost of $15m. tthe purchase has been discussed by the board of directors, but no final decision has yet been made. Assume that the board consists of two executive directors and three non executive directors and that the company relies on the replaceable rules.

required: Explain the legal requirements for this company to valdly enter into the proposed contract so that the rights of the third party are properly protected.

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