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Question 1 (20 marks) David had a great idea for a new app, called Bookface, which allowed book enthusiasts to discuss their favourite novels. David incorporated a new company, Start Up Pty Ltd to market the app. He was the sole director of Start Up ty Lid but the company had three shareholders, David and his brother and sister John and Jane. Each held ne share each. John and Jane were not involved in the company other than to the extent that they contributed art-up capital and were in turn provide with shares. art Up Pty Ltd entered a contract with a web developer, Susan, to develop the app and paid a small depos t of the monies contributed to Start Up Pty Ltd by John and Jane. san worked day and night on the Bookface project for one month but just before completing her work s ews story featuring David, who had sold his Bookface idea to Big Blue Co Lid for a large undiscloDavid had a great idea for a new app, called Bookface, which allowed book enthusiasts to discuss their favourite novels. David incorporated a new company, Start Up Pty Ltd to market the app. He was the sole director of Start Up Pty Ltd but the company had three shareholders, David and his brother and sister John and Jane. Each held one share cach. John and Jane were not involved in the company other than to the extent that they contributed start-up capital and were in turn provide with shares. Start Up Pty Ltd entered a contract with a web developer, Susan, to develop the app and paid a small deposit out of the monies contributed to Start Up Pty Ltd by John and Jane. Susan worked day and night on the Bookface project for one month but just before completing her work saw a news story featuring David, who had sold his Bookface idea to Big Blue Co Ltd for a large undisclosed