exam Q
- Richard managed pAUL’s pub in January he fired the regular friday DJ in order to hire his brother Quentin . Even though Quentin is inexerienced , Richard paid him twice what he had paid the old DJ.
in Feb Richard changed the beer supplier accepting a 2 000 signing bons from the new supplies which he invested in shares worth 3 000. In MAarch, Richard persuaded Paul to sell the pub to him
Richard;s account for the pub business were in disarray so it was difficult to valye the business and on that basis sold te pub to him for 150 K
In April, Richard sold the pub to the brewer for 150 K.
advise Paul
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2. a fiduciary duty is difficult to define but a breach of fiduciary duty is easy to spot. which is why the content of fiduciary duties is bets understood by looking at various cases in which they are breached
discuss
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3.
fred was recruited by Massive Music Ltd to scout for new talent. he was told by his friend , susan, an employee of Rage records plc RRP that a new band in Scotland, Pot of Gold, was worth investigating . paying for his flight on his MML expense account , fred listeed to and interviewed the ban with a view to signing them with MML. the band memebrs adamantly refused to sign with MML ebcause of its english origins,= but indicated they would sign with RRP instead a global americna company . Fred arrange to sign them with RRP collecting a 50 K fee from RRP whih he used to pay off his mortgage. POG has since made a profit of 2.5 million for RRP. Fred did however sign his brother Liam to a lucrative contract with MML which was unaware that Liam was Fred’s brother. MML lost 500 K recording and promoting Liam whose contract was terminated
Advise MML
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