proportions? ion borrowed $200,000 from a commercial lender by way of a mortgage on its plant (13) A corporati d building. The corporation later borrowed SI,000,000 from a bank, and as security for the loan gave the bank a debenture containing a floating charge. The corporation later defaulted on the payment of both the loan and the debenture. The total corporate assets are $1,000,000 Discuss the rights of the security holders and shareholders. What should a person who finds it financially impossible to carry on business any (14) longer without incurring further losses do? (15) What is the effect of a discharge on a bankrupt debtor's obligation to pay his or her creditors? (16) Alexander was insolvent and attempted to hide from his creditors his only asset, a valuable painting worth $10,000. Assuming that he is two months in arrears on his apartment rent of $1,000 per month, owes his housekeeper back wages of $1,000 for one month's work, and owes unsecured creditors $12,000, what would the unsecured creditors receive in cents on the dollar if the trustees' fees and the costs of the bankruptey were $2,000? (17) How is an employment relationship established? What elements of the relationship distinguish it from agency or partnership? (18) Why are employers under certain circumstances vicariously liable for the torts of their employees? Identify the circumstances under which vicarious liability would arise. (19) A union was involved in a legal strike, and picketed the employer's plant. Archic, a union member, crossed the picket line and went to work. What might the union do? What are Archie's rights? (20) Carol checked into the City Hotel, left her suitcase and computer case in her room, and proceeded to the hotel restaurant for lunch. On her return to her room she discovered that her suitcase and computer had been stolen. Advise Carol and the hotel of their rights and responsibilities. How would this case likely be resolved