Bob and Jane;point Phillip to manage the BJTT | My Assignment Tutor

6:260 •< Back LAWS20059 Term 3 2020 take home p… partnership, Bob and Jane;point Phillip to manage the BJTT who is an employee of Betta Pty Ltd a company owned by Bob’s wife. You need to explain: The duties which Bob and Jane have as Trustees and whether they have breached any of those duties; The remedies available to the trust beneficiaries for the breach of duties by Bob and Jane as Trustees; and The liability of Bob as a partner for any debts incurred by the BH partnership, and as to any liability he rnay incur for acts and omissions by other partners. [In this question you need to comment onILg .c9p__e of a partner, authority to bind Bob under the Partnership Act 1891(Q1d), as W ell as Bob’s liability under the Act for civil wrongs committed by other partners]. Question 2) [16 marks] Bob and Jane are directors of ABC Pty Ltd. They decide to engage Ron to manage the company’s property development business on their behalf while they both travel around Australia for 9 months on a working holiday. Ron is the cousin of Jane and has had considerable experience in the Registered Clubs Industry. Six months after Ron’s appointment, the company enters into a $200,000 unsecured loan with the NABSBank at an interest rate of 18%, repayable after 5 years. Ron receives a $35,000 car from the Bank in appreciation of the company taking up the loan. Ron is in regular contact with Bob and Jane but has not disclosed the unsecured loan with the bank or his receipt of the motor vehicle. Four months after receiving the loan, the company is forced to sell assets to meet the interest payrnents which has affected the cornpany’s credit rating. You need to advise on: ,…Whether Bob and Jane have breached any general law and statutory duties and what remedies the company may seek against them; ,b,Whether Ron has breached any general law or statutory duties a. the remedies which the company niay seek against Ron, and ■,:■Whether ASIC could take any action under the Corporations Act 2001 against Bob, Jane and Ron in the circumstances.Ertte r’Zira cal „Tw:23eure =rjte relating t°[I]


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