Advise jordan whether he has breached his duty

Assignment Help Business Law and Ethics

Reference no: EM133314528

Question: Jordan is the director of Lightning Pty Ltd. Jordan suspects that the company is falling behind on interest repayments. He is aware that several other creditors are also demanding repayment. He approaches the company's accountant for an update on the company's financial condition and is advised that the company is solvent.

Jordan, on behalf of Lightning Pty Ltd, enters into a loan agreement and the company becomes insolvent.

Advise Jordan whether he has breached his duty to prevent insolvent trading by entering the loan agreement and if he can rely on any defences.

Use IRAC method to structure your advice: identify the issue, citing the relevant law, explain the application of the law to the issue, and draw a conclusion

Reference no: EM133314528

Questions Cloud

What are the two possible options cindy can use : What are the two possible options Cindy can use to not have to pay rent for the present apartment here in Montreal and a new apartment in Toronto at the same

How do you think paul and denise should divide up : How do you think Paul and Denise should divide up the ownership shares of a closely held corporation - that is, what factors should each of them consider

Present your best or most persuasive arguments : Present your best or most persuasive arguments or suggestions. You should substantiate your responses by providing any appropriate references to the cases

Explain the beliefs of each theorist in terms of learning : Define this term and explain the beliefs of each theorist in terms of learning and behavior. Do you believe the two go hand in hand or do you believe they are

Advise jordan whether he has breached his duty : Advise Jordan whether he has breached his duty to prevent insolvent trading by entering the loan agreement and if he can rely on any defences

Which gps capacity seven days a week 365 days a year : it would be ethical for an employer to require an employee to carry a company provided cell phone that is turned on which GPS capacity seven days a week 365 day

Compare and contrast the themes present in the movies : Compare and contrast the themes present in the movies Explain their similarities in a paragraph Explain their differences in a paragraph

What do you recommend your friend consider before making : What do you recommend your friend consider before making the decision? What benefits and risks would you advise your friend to be aware of

Applicants are genetically disposed to be a hard worker : if such tests become standard business practice, then a person might have little choice but no 'consent' to such tests if they want to earn a living

User Account

All Pages