Is whichbank ltd able to recover the loan from the company

Assignment Help Management Theories
Reference no: EM13339658

Adrian, the managing director of Landforce Pty Ltd organises a loan of $250 000 from Whichbank Ltd on behalf of the company. Adrian is a long-standing officer of the company and has dealt many times with this particular bank. The company's constitution stipulates that any borrowing exceeding $100 000 must first be approved by the board of directors. Adrian has not sought the appropriate approval from the board and he directs that the loan funds should flow into a special account that only he has access to.

During the negotiations to arrange the loan, a bank official asks Adrian why the funds are going into the special account rather than to the company account. Adrian assures him that this is the new arrangement sanctioned by the company. One week later the money from the bank and Adrian have disappeared. The company is refusing to pay back the loan to Whichbank Ltd.

Is Whichbank Ltd able to recover the loan from the company?

It is recommended that you use the 3rd edition of the Australian Guide to Legal Citation, a copy of which can be downloaded from the library site

 

 

Reference no: EM13339658

Questions Cloud

Which of the following is not included in a pseudocode : Which of the following is not included in a pseudocode program?
How and to what extent does government reduce income inequal : Use quintiles to briefly summarize the degree of income in equality in the united states. how and to what extent does government reduce income inequality?
Describe how circut should be built labeling each component : You need to construct an RC circut with a time constant of .25s and you are given a selection of 1, 10, 100, and 1000Ohms resistors and a selection of 1, 10, 100, and 1000 micro Faradays Capacitors.
Calculate the resistance of the hose : Concrete is pumped from a cement mixer to the place it is being laid, instead of being carried in wheelbarrows. Calculate the resistance of the hose
Is whichbank ltd able to recover the loan from the company : Adrian, the managing director of Landforce Pty Ltd organises a loan of $250 000 from Whichbank Ltd on behalf of the company. Adrian is a long-standing officer of the company and has dealt many times with this particular bank. The company's constituti..
What is the potential drop across the second wire : You need a 2m long wire to carry a current of 10 mA, but you can find only a 1m copper wire with resistance 1 milli-ohm and a 1m wire made of some other metal. this second wire has the same length and diameter as the first wire but a resistance of..
Calculate the angular speed of the system : A uniform rod of mass 2.55×10?2kg and length 0.440m rotates in a horizontal plane about a fixed axis through its center, What is the angular speed of the system at the instant when the rings reach the ends of the rod
Write a program that stimulates a bouncing ball : Write a program that stimulates a bouncing ball by computing its height in feet at each second as time passes on a simulated clock. At time zero, the ball begins at height zero.
Determine the ratio of b to a that is required in order : An underdamped oscillator, where gamma = omega/3, is initially at rest and is subjected to a driving force given by F(t)= Asin(omega*t)+Bsin(3*omega*t),

Reviews

Write a Review

Management Theories Questions & Answers

  Two leaders in terms of lpc and situational control

How would you describe each of the two leaders in terms of LPC and situational control?

  A product in which inventory is taken frequently

A product in which inventory is taken frequently, rather than once or twice per year. Under what cases could your inventory of this product be computerized?

  Select general motors company to examine

1)      Selectgeneral motors company to examine.

  Briefly identify two consequences

The changing workforce is one of the emerging trends in organizational behavior. Describe how the workforce is changing and briefly identify two consequences of these changes for organization

  Investigate the company chiquita banana

Investigate the company "Chiquita Banana". Please provide a historical background and update what happened with this case

  Benchmarking

What is the need for benchmarking?

  What is open systems model for change in body

What is open systems model for changein body

  Research paper on a topic concerning a current or workplace

Write a research paper on a topic concerning a current or workplace issue or an area covered by the federal or state labour law or the national labour relation board case or issue.

  Tends to suggest

While the above tends to suggest that the new generation is very different from the previous generations in their behaviours and expectations in the workplace, some may think otherwise, especially when taking a longer term perspective.

  The most important form of non-verbal communication

Salespeople can use their own body language, spacing, and appearance to send messages to their customers

  Demographic and socio-cultural trends

Using 2 different companies in the same industry of your choice, such as Coke and Pepsi Co (both in the beverage industry) compare and contrast their strategical business choices based on economic, demographic and socio-cultural trends.

  Unplanned actions may lead to a mess

"Management is a series of functions to be performed in a sequential order". Explain the statement describing Management Process in short.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd