From whom can winits pty ltd recover

Assignment Help Business Law and Ethics

Reference no: EM13234270

Question :

Brodie Pty Ltd is the trustee of the Brodie family trust. The trustee operates a liquor retail store at a building owned by Brodie Pty Ltd as trustee for the family trust. Recently, the sole director of Brodie Pty Ltd, Larry, ordered $15,000 worth of wine and spirits for the store from Winits Pty Ltd. This purchase was made even though the store was seriously in debt and the trust had insufficient cash reserves to service its existing loans. In signing the contract, Larry made it clear that he was signing 'as trustee of the Brodie family trust'. The family trust business has failed due to a downturn in consumer demand and cannot meet its debts. The $15,000 owed to Winits Pty Ltd has not been paid, and there are outstanding mortgages and many other debts. From whom (if anyone) can Winits Pty Ltd recover the $15,000?

Reference no: EM13234270

Questions Cloud

Determine the equivalent uniform salary for a period : Suppose a man receives an initial annual salary of BD 30,000, increasing at the rate of BD 2500 a year. If money is worth 10%, determine his equivalent uniform salary for a period of 8 years.

Discuss the impact of at least two of the germanic : Discuss the impact of at least two of the Germanic or Islamic tribes on the rise in the 7th-10th centuries. What impact did they have on a particular region? Consider the political, social, economic or religious influence they had in that area. Ple..

Explain butane transform to in hydrogenation reaction : Which families of organic compound does butane transform to in hydrogenation reaction? If no reaction would likely to occur, choose "No reaction."

The death of queen anne in 1714 : Discuss the political situation in England after the death of Queen Anne in 1714, explaining why the rebellions of 1715 and 1745 took place and how they affected parliamentary rule.

From whom can winits pty ltd recover : The $15,000 owed to Winits Pty Ltd has not been paid, and there are outstanding mortgages and many other debts. From whom can Winits Pty Ltd recover the $15,000

What are methods to structuring national and key accounts : What are some methods to structuring national and key accounts? How do national accounts aid customer service and support?

Discuss how direct-responce advertising and sales : Discuss how direct-responce advertising and sales letters can be used to identify prospects.

What is networking : What is networking? How might a real eastate salesperson use networking to identify prospects?

Write a program with the output hello world hello : Write a program with the following output: (Notice the newline and space) Hello world! Hello

User Account

All Pages