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Alan and Brian wished to obtain tickets to the Football Cup Final at Hambley Park, but the owners of the stadium, Stein Ltd, did not wish to allow Alan and Brian to attend the match due to criticisms they had levelled against Stein Ltd in the past. Alan and Brian employed Chris to purchase tickets in his own name on their behalf, so that Stein Ltd would not discover that he was buying them on behalf of Alan and Brian. Alan and Brian paid Chris for the tickets, but Chris was able to obtain the tickets from Stein Ltd on credit. Chris is now bankrupt, and Stein Ltd has discovered the purpose for which Chris bought the tickets. Jock, the Managing Director of Stein Ltd, has informed Alan that his ticket is no longer valid and that he will not be allowed to attend the match. Jock has also told Brian that he holds him responsible for payment of the price of this ticket. Brian refuses to pay and is now being threatened with legal action by Stein.
Advise Alan and Brian.
Prospectus Issue: Under a prospectus issue the company sells the shares directly to the public rather than selling them through intermediaries.
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