Zed Bank plc has agreed to allow Exe Ltd an overdraft of £50,000 subject to a fixed and floating charge over almost all of the company's assets. In addition, the directors of Exe Ltd have been required to personally guarantee the overdraft.
Which of the following is correct?
(i) The directors could face bankruptcy if they are called upon to honour the guarantee.
(ii) In this case the directors do not enjoy limited liability as they are liable on the guarantee if the company cannot pay.
(iii) The directors could only be required to honor the guarantee if the company's assets proved insufficient to meet the overdraft.
How many fundamental principles are identified by the CIMA Code of Ethics?
Which of the following is INCORRECT in relation to a claim for wrongful dismissal?
Which THREE of the following are disadvantages of rules-based approaches to ethical standards?
Rules-based approaches: