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pY Question 2 Who c 13 Marks Futie 184 182 lase 180.187 Tom and Randy are directors of ABC Pty Ltd. They decide to engag
pY Question 2 Who c 13 Marks Futie 184 182 lase 180.187 Tom and Randy are directors of ABC Pty Ltd. They decide to engag Aziz to manage the company's property development business on their behalf while they both travel around Australia on a 12 month holiday. Aziz is the cousin of Randy and has had considerable experience in the Registered Club 2) Industry. Six months after his Aziz's appointment, the company enters into $100,000 unsecured loan with the NABB Bank at an interest rate of 18% repayable after 5 years. On entering into the loan contract Aziz receives a $35,000 car from the Bank. While Aziz has been in contact with Tom and Randy there has been no discussion regarding the financial affairs of the company. Four months after the loan is company is force to sell assets to repay the loan which has affected its credit rating. You need to advise on: (a) whether Tom and Randy have breached general and statutory duties and what defences they might rely on (b) whether Aziz has breached any general law or statutory duties; and (5 Marks) Spo (1) Cmandiana Fons C GO L S (5 Marks) > 51902 Ousponsiblity 6 the action
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