Kim, Kourtney, and Khloe are the shareholders of Dash Closets Sdn. Bhd. The authorised capital: Business Law Home Work, HU, Malaysia
University | HELP University (HU) |
Subject | Business Law Home Work |
Kim, Kourtney, and Khloe are the shareholders of Dash Closets Sdn. Bhd. The authorised capital of the company is RM2.5 million. Kim has agreed to contribute RM900,000, and the remaining balance is split evenly between Kourtney and Khloe. Kim and Khloe have paid 60% of their shares, while Kourtney has paid up all her shares.
They decided to buy a shophouse in Kota Kinabalu, Sabah, which initially belonged to Kourtney. Upon completing the sale and purchase of the shophouse, a fire unfortunately destroyed it. Kim, Kourtney, and Khloe only recently realised that the unit’s insurance was still under Kourtney’s name. Meanwhile, Dash Closets Sdn. Bhd. could not pay its creditors, who now demand payment from Kim, Kourtney, and Khloe. Discuss the legal implication(s) in the above situation based on the Companies Act 2016 and decided cases.
Are You Searching Answer of this Question? Request Malaysian Writers to Write a plagiarism Free Copy for You.
Get Help By Expert
Looking for the best homework helpers in Malaysia for your Business Law assignments? Look no further! Our online assignment helper service caters specifically to Malaysia students, offering expert assistance tailored to your course needs
Recent Solved Questions
- SBST1303: Elementary Statistics Assignment, OUM, Malaysia Consider the average daily temperature of your residential area, and provide the data for 30 consecutive days
- TCC 233/05: Database Management Systems Assignment, UTAR, Malaysia Describe attributes and tuples in detail, and use examples to elaborate on each of them
- Construction Law Assignment, STU, Malaysia Explain to Fairuz the validity of the agreement and illustrate your answer with relevant cases under the law of contract
- Managing Accounting Assignment, UiTM, Malaysia Carefeel, a manufacturing company uses a job-costing system. The company plant has a machining department
- FA113: Financial Accounting 1 Assignment, RCC, Malaysia The following is the list of transactions for the month of January 2020 for Comfort Furniture a small furniture retailer
- Computer Science Assignment, UON, Malaysia A floating bottle has two ways to go: either it goes to someone else or it comes back to you. The floating bottle
- CSC404: Programming II Assignment, UiTM, Malaysia UiTM Johor will organize an Active Learning Workshop among lecturers from UiTM and other universities in Malaysia
- 310CT: Intelligent Agents Assignment, CU, Malaysia You are required to use JAM agent and design and develop a program so that the robots can collect all the rewards
- Neuroscience Assignment, UPM, Malaysia Discuss how small changes in the brain can create a difference in the action of an individual more precisely in the person’s behavior
- Financial Management Assignment, UniKL, Malaysia Mr.Shahrul Affendy had been appointed to lead the finance team of Extreme Broadband Corporation