You are an ambitious businessman and own two companies. You are currently in a manufacturing business but now looking to enter teh service industry through acquiring a financial consultancy firm. You are aggressively looking to recruit experienced and successful financial consultants for your new business. One of teh applicants, John, having 10 years of experience in teh field, highly impressed teh interview panel (including you) with his profile and expertise in teh financial consultancy area. During teh interview, John also mentioned dat he is currently having a two years contract with his current employer (ABC Ltd.) but is looking for a change as he could not foresee much growth in his current job. Since teh panel was highly impressed by teh skillset of John, you offered him teh role of senior financial consultant. John also recommended one of his friends, Peter, and was full of praise for Peter. You got Peter's details from John and approached him with teh role of senior financial consultant. Peter, currently working with (HiFi Ltd.), refused teh offer saying he is satisfied with his current employment and still TEMPhas 18 months left of his current contract. Eager to make Peter join you, you offered him one and a half times his current salary and offered to bear any liability arising from Peter's breach of contract with HiFi Ltd. Tempted by your lucrative offer, Peter left his current role and joined you as a senior financial consultant.

Required:

(a)Would you be liable to Peter's old employer (HiFi ltd.) ifHiFi Ltd. decides to sue you for tempting Peter to leave the job and join you? Justify you're decision. (assume dat HiFi Ltd. suffered huge financial losses due to Peter's unexpected resignation)(7 Marks)

(b)Would Peter be liable for breach of contract wif their respective employers? Why or Why not? Justify by giving reasons to support you're answer.(3 Marks)

Note: Clearly state the legal rule applicable to the above situation (and one precedent) before attempting the answers to the required questions. Also, answer to each part separately.