QUESTION 1 (HYPOTHETICAL) Tahani and Jason are the sole shareholders and directors of The Fabulous Place Pty Ltd ("TFP"). TFP carries on business as a 'pop-up' amusement park and is famous for its carnival rides and frozen desserts. TFP owes $50,000.00 to Yum Yum Pty Ltd for the supply of frozen yogurt and other confectionary which is available for sale at TFP. Tahani and Jason wish to avoid paying Yum Yum, so they incorporate a company called The Most Fabulous Place Pty Ltd ("TMFP"). All the assets of TFP are transferred to TMFP which continues the new business. The directors of Yum Yum Pty Ltd seek your advice as to whether they can recover the $50,000.00 from TMFP