Raise and answer all legal issues in the story

Assignment Help HR Management

Reference no: EM132938207

Question

Kingsley was the chairman of Bill Ltd. To the knowledge, and with the acquiescence, of Bill's board he also acted as the company's managing director. Bill Ltd held shares in another company, Banky Electronics Ltd. To encourage Mr. Antwi to inject funds into Banky Electronics Ltd, Kingsley, in his capacity as chairman of Bill ltd, wrote to him undertaking to indemnify him for any loss he might incur as a result of lending money to Banky ltd or guaranteeing any loan made to Banky ltd. In reliance on this undertaking Mr Antwi advanced 45,000 pounds to Banky ltd. Subsequently, Banky Ltd went into liquidation and Mr. Antwi had to pay off a company loan which he had guaranteed. Mr. Antwi sought to recover that sum, and the GHc 45000 lent to Banky ltd, from Bill ltd. He relied on the terms of Bill Ltd.'s letter of indemnity and this raised the question of Kingsley's authority to bind the company.

With the aid of Decided cases, raise and answer all legal issues in the story

Reference no: EM132938207

Questions Cloud

Which investment would select based on the differences : Two investments have an expected life of 5 years. Which investment would select based on differences in expected rates of return on the two investments? Explain

Change in the cash balance during the period : What was the change in the cash balance during the period?

What are the models of decision making : 1- As the manager in charge of a multicultural team, what could you do to minimize potential negative cultural effects on the team's decision-making process?

What infection control guideline is relevant to service : it is requirement in childcare centres that educators and staff ensure that infection controls are in place to minimise the risk of spreading infection.

Raise and answer all legal issues in the story : Question of Kingsley's authority to bind the company - With the aid of Decided cases, raise and answer all legal issues in the story

What is the minimum bid price the firm should set as a sale : The managers of PonchoParts, Inc. plan, What is minimum bid price the firm should set as a sale price for the blocks if the firm were in a bidding situation?

Incorporate individual-based pay : Which of the following is NOT a reason a corporation would want to incorporate individual-based pay into its total reward system?

What is the incremental revenue associated with the price : Suppose this action will increase sales to 309,000 jars of sauce. What is the incremental revenue associated with the price reduction of sauce?

What is incremental costs associated with producing extra : Mama Italian Sauce, Suppose this action will increase sales. What is the incremental costs associated with producing an extra 54,500 jars of sauce?

User Account

All Pages