Which of the following statements is FALSE? Nicole is an independent contractor who comes in to do consulting work for Canadian Tire. As a result Nicole O will require Canadian Tire to deduct CPP and El from her pay cheques O will control how she performs the work she was hired to do? O can do work for other companies as well O has her own tools that she needs to perform her1What is the difference between an employee and an independent eentreeter'? Why deer; this matter {2 marks] Tim Hall has just gone through a personal bankruptcy in Toronto. Which of the following debts that Tim has will NOT be erased due to his personal bankruptcy? O all of the other debts will be erased in his personal bankruptcy $25,000 he owes in student loans $15,000 he owes in back rent $50,000 he owes in upaid income tax $45,000 debt to VISAMW Software Inc. develops specialty software for various industries. MW Inc. has been a very profitable company for 10 years. MW created computer software called AllerTrak which helps doctors diagnose and track patients' allergies. It has sold very well for 3 years. Recently a competitor, Rivi Software Inc., started selling a software package called AllerTrace which is very similar to MW's AllerTrak. Rivl has priced its AllerTrace software 40% lower than AllerTrak, so MW's sales have dropped significantly. MW is furious and told Rivl it cannot sell a product that is almost identical to theirs. Rivl insists that it has done nothing wrong and it is just regular business competition. Both sides contacted lawyers. Analyze fully the legal issues and the rights and remedies of all the parties involved. (10 marks)Alta Inc. is a manufacturing company that is having serious financial difficulties. The Royal Bank has a $1.3 million dollar loan backed by a general security agreement on Alta, but Alta has missed the past 2 loan payments totaling $40,000. Alta owes $30,000 to the government for CPP and El contributions that it has not made for the past 16 months. Alta owes 4 months in back rent of $80,000 to its landlord, JZ Properties Inc. and JZ is demanding to be paid. Alta also owes Davis Wire Inc. $20,000 for wire that it supplied Alta and Davis wants to be paid or it plans to take back its wire. There are 40 Alta workers who each make $800 per week and they have not been paid in 4 weeks. Ted Snow is the president of Alta and he called an emergency meeting of the Alta board of directors this week. The board agreed to pay its worried preferred shareholders a dividend costing the company $40,000. Discuss fully what options Alta has to avoid bankruptcy and what would happen if Alta does go bankrupt. Outline the steps and the rights of all the parties and the directors' legal position