10 points Scenario: Albert and three of his friends have decided to come together to form a new company. They will need a large premises for their company as they intend to engage in online sales and will require a warehouse to store their product. They propose to name the company Quick Buy Pty Ltd. Albert will coordinate inital formalities initiate and manage registration of the company and find a suitable warehouse that the company can use for storage. The three friends each promised to contribute $100,000 individually for the new company towards share capital Albert has now instructed a solicitor to prepare the necessary documents for the new company. He finds a warehouse and agrees on a three-year lease and also engages a web designer to build a website for online sales After three weeks, none of the friends have paid the $100.000 that they committed. Two of the friends have decided to invest the money elsewhere as they are not sure that Quis Buy wil be profitable in the current economic climate. They have not informed Albert of their decision and have done nothing in reunion to the proposed can The bill from the solicitor and the web designer have now been presented to Albert and the landlord has sued an unveice for the first quarter of the year. The empanyi and it now does not seem likely that it will be registered Albert a very worbed and seeks your advice PART DJ Considering that none of Alberts friends have paid the $100.000 that they committed to put to the company explain the imptations of Albert become the son Pty Ltd when is megtered and thereafter anowing the company to trade knowing full well that will not be able to meet its bts as and when they falou (18 marks For the toolbar, press ALT+F10 (PC or ALTAND M B US ESAN Pragraph Open Sen Y 10pt xxx A 2 13 ctor of Quay