Business law – group assignment

yes and we need other day by the inspector for me [Music] I talk about the food instead there there must be at least several people what shakes it’s part of the fight Samuel even once [Music] I you if you don’t mind we would like to hire business we sell my business shoe to you but if you agree to buy it for $39 yeah II agree that price us you 10,000 in cash 20 Cheryl varnish and aventures for the remaining 9,000 or by the company we already discussed and agreed upon you as a director thank you I hope I can handle this company with full responsibility another I manipulated it was appointed by the unsecured creditors you know nice to review I am sorry to hurt that you are unable to send your company and it with into liquidation it’s okay thank you for your concern I come here is to realize the company and settle the depths or to the creditors oh I see you can do a job as my secretary if you need I’ve realized all the assets of the company however the total amount just around six thousand ended the asset were enough to pay off secured creditor including Solomon who was a debenture holder and secured creditor like new has recovered nothing from the liquidation liquidation proceed seriously is just that much is it possible to a big company like Solomon have just just have six thousand ringgit amount of asset yeah that what I have realized the director has used the money to pay off the debenture as the creditor holding was considered a secured creditor I can accept this I do so Solomon to avoid you from getting I will try to take this case to the court and allege that the company was a fraud the reason why I upon you to this case because I just watch Solomon to have the responsibility to the company death if you want like that I will overlook this case [Applause] the creditors could not recover data as the contract were in the company and not with the salami I hope that since salaamed was the major addition of the 20001 chest as copper dimension of the remaining fixtures and he was also a director of the company therefore the company belongs to Sullivan and that he could be liable to settle all their own into the editors of the company as cinnamon and coal is a company and therefore has separate legal personality it could not be said it Salameh on the company the company is Salam and are two legal percent in law it is a company which has the power to enter into contract I’m sorry miss I couldn’t help you anymore because all the decision I’ve already signed whatever it is I will sue so he’s the only one responsible for these things no means you can debts of the company and the responsibility of the company and not salam on it is the company which entered into contracts with you and you only can sue the company and not its shareholders salam on ability as a shareholders is limited this is not fair he’s the one granted the business and the company is belong to him the company can employ people to run the business and Solomon was entitled to be considered an employee of the company in his capacity as the director of the company it is same like company must sue in his name for anyone commits against it if any wrong has been committed against the company it is the company who can sue to recover its losses oh I see then the shoe business belong to the company and not to Solomon once the contracts were entered into between the company and the Solomon this means it should be like that

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