Question
Razif and Mona are husband and wife. They are the only shareholders and directors of My Corn Snack Sdn Bhd. (the company). The company is
Razif and Mona are husband and wife. They are the only shareholders and directors of My Corn Snack Sdn Bhd. (the company). The company is running a business of making and selling various corn based snack. Mona owned a business premise at Segamat town. Mona had taken an insurance policy from Takaful Insurance Company to cover the premise. Mona then transfered the premise to the company. However the insurance policy remained under her name. One day, the premise was destroyed by fire. Mona claimed payment from Takaful Insurance Company but it refused to pay.
Whereas Razif had entered into a contract to sell his corn farm to Tuan Suhaimi as he need money to send his daughter Laila to study oversea. Later, he changed his mind and refused to transfer the farm to Tuan Suhaimi because Laila managed to get scholarship for her study. Razif had transfered the farm to the company to avoid the farm from being transferred to Tuan Suhaimi. Consequently, Tuan Suhaimi had commenced a legal action against Razif for breach of contract.
Advise Razif and Mona.
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