• Electron Power Pty Ltd entered into a lease for premises for the business in Victoria
• Electron Power Pty Ltd borrowed $100,000 from Business Bank to fund the operation of the business. Andrew, Bryan, and Cameron have personally guaranteed repayment of the loan
• Electron Power Pty Ltd purchased several electrical generators from Electrical Suppliers Ltd. One-half of the purchase price was paid on delivery and the balance payable in equal 12 monthly installments
• Six months after these transactions were entered into, Electron Power Pty Ltd could not make the required payments.

Question

Andrew, Bryan, and Cameron are worried about the extent of their financial liability for these unpaid debts and seek your advice as to whether or not they would be personally liable to the landlord, Business Bank, or Electrical Suppliers Ltd (10 marks)