B114 - Accounting for Decision Making - Accounting and Finance Assignment Help

Assignment Task

Required

(a) If, six months after the above agreements are entered into, Transpire Ltd was unable to make the payments required under the above agreements, would Kay or Mac be personally liable to:

i) the landlord (Ivan)
ii) the bank (Sandgroper) or
iii) the supplier (HIIT Co)?

Provide reasons for your answer. (You must consider all 3 above)

(b) How would your answer to (a) differ if Kay and Mac carried on the business as partners, and each of the agreements had been entered into by them as partners?
You may assume that it satisfies the definition of a partnership under the Partnership Law Act2019.

(c) Describe the legal rights HIIT Co has in respect of the computers sold to Transpire?

(d) Explain how HIIT could have secured their legal rights to the computers in the event Transpire defaulted on payment?

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