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What gilles pty ltd does not know there is no possibility

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Question: Gilles Pty Ltd is a small gold miner. Thomas, Tahani and Michael are board members. Thomas is also a farmer and owns land that is adjacent one of Gilles' mines. Gilles Pty Ltd is interested in buying the land and mine it for gold. What Gilles Pty Ltd does not know there is no possibility that Thomas' land contains any of the golden mineral. Thomas has known this all along. Nonetheless, Gilles Pty Ltd decides to buy the property of Thomas, well above its market value. Eleanor is a shareholder of Gilles Pty Ltd. She is furious to learn about the sale and asks you whether any of the directors have misused their position and/or information?

Reference no: EM132741813

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