QUESTIONS LUCY JONES Gita and Luis are partners in a catering business called Meals4U. They regularly order fresh fish from Bespoke Foods Ltd. To cut costs, Gita asks Luis not to order any more fish from Bespoke but instead to buy it at the local supermarket. The next day Luis gets a new customer and, wanting to make a good impression, she again orders fish from Bespoke, who know nothing of Gita's request. Two months later, Bespoke's bill has not been paid and Bespoke is threatening to sue Gita and Luis as the partners of Meals4U. Gita blames Luis for the situation. A) Advise Gita whether she will be liable to pay the debt from her personal resources if Meals4U has insufficient assets to pay it. If Meals4U was a limited company rather than a partnership, explain, giving reasons, who would be liable for the debt to Bespoke. B) 2. For some years Zadie carried on a computer repair business as a sole trader. In 2013 she expanded into computer sales and incorporated the business, assigning the whole of its assets to the company, Comdeal Ltd. Payment was effected by the allotment to Zadie and her husband of 5,000 fully paid shares in Comdeal Ltd. Zadie continued to insure the business assets in her own name as she had done prior to the incorporation of Comdeal Ltd. This year, the premises of Comdeal Ltd were burgled and some 30,000 worth of equipment stolen. Zadie has made a claim on the policy but the insurance company refuses to meet her claim. Advise her. 3. Shreena and Gita wish to run a business buying and selling organic vegetables. They have decided to set up a private company limited by shares and are thinking of calling their company VegRus'. They will be the subscribers and the first directors of the company. They have already found premises but the owner is insisting that a contract to lease the premises is signed immediately, despite the fact the company will not be registered for about four weeks Advise Shreena and Gita what documents will have to be delivered to the Registrar of Companies before a certificate of incorporation of the company is issued, any restrictions on choice of name of the company, and any liabilities they may personally incur if the lease is signed before the company is incorporated. QUESTIONS LUCY JONES Gita and Luis are partners in a catering business called Meals4U. They regularly order fresh fish from Bespoke Foods Ltd. To cut costs, Gita asks Luis not to order any more fish from Bespoke but instead to buy it at the local supermarket. The next day Luis gets a new customer and, wanting to make a good impression, she again orders fish from Bespoke, who know nothing of Gita's request. Two months later, Bespoke's bill has not been paid and Bespoke is threatening to sue Gita and Luis as the partners of Meals4U. Gita blames Luis for the situation. A) Advise Gita whether she will be liable to pay the debt from her personal resources if Meals4U has insufficient assets to pay it. If Meals4U was a limited company rather than a partnership, explain, giving reasons, who would be liable for the debt to Bespoke. B) 2. For some years Zadie carried on a computer repair business as a sole trader. In 2013 she expanded into computer sales and incorporated the business, assigning the whole of its assets to the company, Comdeal Ltd. Payment was effected by the allotment to Zadie and her husband of 5,000 fully paid shares in Comdeal Ltd. Zadie continued to insure the business assets in her own name as she had done prior to the incorporation of Comdeal Ltd. This year, the premises of Comdeal Ltd were burgled and some 30,000 worth of equipment stolen. Zadie has made a claim on the policy but the insurance company refuses to meet her claim. Advise her. 3. Shreena and Gita wish to run a business buying and selling organic vegetables. They have decided to set up a private company limited by shares and are thinking of calling their company VegRus'. They will be the subscribers and the first directors of the company. They have already found premises but the owner is insisting that a contract to lease the premises is signed immediately, despite the fact the company will not be registered for about four weeks Advise Shreena and Gita what documents will have to be delivered to the Registrar of Companies before a certificate of incorporation of the company is issued, any restrictions on choice of name of the company, and any liabilities they may personally incur if the lease is signed before the company is incorporated