Question
Angry creditors A was a furniture manufacturer and was in urgent need of timber for his new collection of furniture. A made an order with
Angry creditors A was a furniture manufacturer and was in urgent need of timber for his new collection of furniture. A made an order with B for a timber that worth MOP 100,000. A and B entered into a contract on 1st November and agreed with the following terms: B will send the timber to A by ship once receiving the full payment MOP 100,000 within one month. As a gesture of sincerity, A paid the first half of the price to B, i.e. MOP 50,000 in cash on the same day they entered into the contract. Since A did not have sufficient money, he decided to mortgage his truck worth MOP 120,000 with Bank Z the next day to pay B with the outstanding MOP 50,000. A week after A and B entered into the contract, As son was sent to the hospital for an urgent operation. As A lacked money, he borrowed money from his friend F, MOP 70,000 for the operation fee. As uncle, U agreed to act as the guarantor in case A failed to pay F. A month later, F (As friend), U (As uncle) and Bank Z want to get the money back, but A has no more cash.
Explain how much each creditor will be paid
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