Brodie pty ltd is the trustee of the brodie family trust

Assignment Help Management Theories
Reference no: EM13341646

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: EM13341646

Questions Cloud

Is whichbank ltd able to recover the loan from the compan : Is Whichbank Ltd able to recover the loan from the company?
Find the initial acceleration of the metal cylinder : A 0.550 kg metal cylinder is placed inside the top of a plastic tube, the lower end of which is sealed off by an adjustable plunger, what is the initial acceleration of the metal cylinder
At what speed is the ball moving : A photon of red light (wavelength = 720 nm) and a Ping-Pong ball (mass = 2.00 × 10-3 kg) have the same momentum
Prepare a presentation relevant to company law : presentation on a current item which is relevant to Company law. This is a chance to develop your research skills in a contemporary environment
Brodie pty ltd is the trustee of the brodie family trust : Brodie Pty Ltd is the trustee of the Brodie family trust
Find the width of the canyon : On a hiking trip, you are walking through a canyon with vertical walls and are closer to one wall than the other. find the width of the canyon
Barrys plumbing case study : BP provide emergency plumbing repairs of all types (sewerage, burst pipes, leaks, etc). They do not do new installations unless it is to replace an existing installation.
Discuss whether claire has an action against either melanie : Discuss whether Claire has an action against either Melanie or Polly.
What is the maximum speed at the top of the loop : A baseball m = 0.56 kg is spun vertically on a massless string L = 0.94 m. The string can only support a tension of T = 9.4 N before it will break. What is the maximum speed at the top of the loop in m/s

Reviews

Write a Review

Management Theories Questions & Answers

  Acme is a large manufacturer of video games

Acme is a large manufacturer of video games

  Why quantitative risk is so important in risk mitigation

Why quantitative risk is so important in risk mitigation. Use examples to support your position

  The driving business need for the organization

Outsourcing work to other countries is problematic for organizations. You have taken on a new client that wants to outsource much of it customer care center to another country.

  Elements of project portfolio management

What elements of project portfolio management are currently in place in the process to develop new products for Scott Paper and how does Scott Paper's new product development approach reflect the overall business strategy?

  Develop a draft proposal for consideration by the board

Develop a draft proposal for consideration by the Board and Management of each company. In your proposal you should indicate:

  Discuss the emergence of teams as a key feature

Discuss the emergence of teams as a key feature if the modern workplace and trace its origins in the context of the changes in thinking associated with the development of schools of management thought.

  Discuss the implications of the legal and ethics issues

Describe and discuss the implications of the legal and ethics issues that might arise in conducting this business online and explain the technology infrastructure, including the hardware requirements, which would be required.

  Check on critical resources

Explain why it Is important tp carry out  ROUGH-cut capacity planning check on critical resources before proceeding with the development of the final master production schedule.

  Explain in detail your objectives for each media form

1.Describe the mix of media you would use to implement your public relations campaign and explain in detail your objectives for each media form.

  A process of assessing the current situation facing

The situation analysis is essentially a process of assessing the current situation facing the organisation, arriving at a set of assumptions about the future and identifying key strategic issues that are likely to confront the organisation”. Based st..

  Cultural differences important to business managers

Why is an understanding of cultural differences important to Business managers

  Conflict between manufacturing and sales

1.  Using the concepts learned in this chapter; analyze the nature of the conflict between manufacturing and sales. Try to identify the sources of conflict and ascertain how far the conflict has gone.

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