Jim and peter are directors of sambal pty ltd

Assignment Help Business Management
Reference no: EM13829513

Jim and Peter are directors of Sambal Pty Ltd. Sambal Pty Ltd has a constitution which restricts the amount of money the company can borrow at any one time to $10m. The company already has a bank loan outstanding from the bank in the amount of $10m. The company recently took out another $2m loan from ABC Bank. The loan contract was signed by 2 of the company's directors and had been authorised by the board.

The company is now claiming that the loan contract with ABC Bank is invalid as it contravenes the constitution. The company is refusing to pay interest to ABC Bank in relation to the $2m loan.

Required:

Advise ABC Bank and Sambal Pty Ltd.

 

 

Reference no: EM13829513

Questions Cloud

Weighted average cost of capital assuming no corporate taxes : A firm has an asset base with a market value of $5.3 million. Its debt is worth $2.5 million. If $0.2 million is paid in interest annually and the shareholders expect a 16% annual return, what is the weighted average cost of capital assuming no corpo..
Basic description of five performance appraisal instruments : Chapter Three of the textbook gives a basic description of five performance appraisal instruments. Choose one of the instruments, and write a two- to three-page paper (excluding the title and reference pages), describing the instrument. Include the f..
Report on content management services : Choose one Drupal site and one Joomla site (an alternative CMS package) from the lists below and evaluate them according to how well you think they manage and present their content.
About the retirement annuity : Funding Jill Moran’s Retirement Annuity: Sunrise Industries wishes to accumulate funds to provide a retirement annuity for its vice president of research, Jill Moran. Ms. Moran by contract, will retire at the end of exactly 12 years. How large a sum ..
Jim and peter are directors of sambal pty ltd : Jim and Peter are directors of Sambal Pty Ltd. Sambal Pty Ltd has a constitution which restricts the amount of money the company can borrow at any one time to $10m. The company already has a bank loan outstanding from the bank in the amount of $10m. ..
Write essay that identify key sociological characteristics : Explains about writing a critical essay about identifying key sociological characteristics that make a person a social individual and then altering one of those characteristics and reimagining a person's life after that change.
Explain the jit philosophy : Explain the JIT philosophy.Identify the customer expectations for the service and/or product.Describe the production (or service) process steps observed.Diagram a process flowchart to show the steps observed.
Equity mutual fund : Rodney Cashman has been investing $2,000 quarterly for the past 18 years in an equity mutual fund. How much is the fund worth now assuming he has earned 11.5% compounded quarterly on his investment?
Creating access database for storing employee information : Investigate and present a proposal for the implementation of an Information Technology (IT) system for a small (4-user) business section (for example, Human Resources) of an organization of your choice (real or fictitious).

Reviews

Write a Review

Business Management Questions & Answers

  Therapy session analysis dr rogers amp gloria1 what are

therapy session analysis dr. rogers amp gloria1. what are your personal reactions to what gloria is saying? how does it

  Illustrate what action specifically

Illustrate what action specifically. Suppose which the creation of the GM Operations position was a good decision.

  Describe the importance of aligning business objectives

Describe the importance of aligning business objectives with ERP system processes and its impact on system quality and describe seven interdependent measures of IS success

  Discuss how organizational culture made the eagle grou

What can a group of engineers who had scant resources, limited support, and a cast of characters straight out of a sit com teach you about successful teams? Read the article: Bolman, L. G., & Deal, T. E. (1992). What makes a team work?. Organizationa..

  Transforming good company into a great company

What is required to transform a "good" company into a "great" company? In other words, what do you think is the single most important ingredient?

  Jennifer right about need to determine the workers

Is Jennifer right about the need to determine the workers formally? Why or why not? If you think she is right, how do you explain away Mel's arguments?

  State your rationale with your answer

Share deceptive tactic you investigated from e-Activity. On a scale of 1 to 5 with 5 being highly deceptive, rate tactic you found also state why you gave it that rating.

  Identify a capital improvement that could help betty

Identify a capital improvement that could help Betty with her Alpaca business. Write a summary of no more than 700 words explaining how the capital improvement you identified could help the business.

  Explain what factor contribute to culture of an organization

Explain what factors contribute to the culture of an organization and how can quality be incorporated into an organization's culture?

  Show impact of global media

Show and evaluate the historical implications of current global media, especially its impact on national and world affairs, e.g., conflict within developing countries. Cite readings or personal experience.

  From the e-activity choice an athlete and study

From the e-Activity choice an athlete and study the performance trends of his or her career. Once you have reviewed his or her performance trends

  Explain using outside resources

Explain Using outside resources and research the physical effects of stress and Create a flyer that would be provided to employees concerning the effects of stress.

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