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- Brent is a very talented accountant with ambitions to become the general manager of his firm.The directors advise Brent that he will be promoted as soon as he obtains a Master of BusinessAdministration degree at his own expense. Brent spends a considerable sum of money and everyspare minute of his life studying and manages to finish the qualification within two years.Although the directors know about Brent’s graduation they appoint someone else as generalmanager.Explain whether Brent would succeed in a legal action based on promissory estoppelagainst the company. Use the IRAC method to answer the question.Michelle took out a $900,000, 30-year mortgage. After 30 years, Michelle paid a total of $1,330,000 to the lender. How much did Michelle pay in interest over the life of the loan? $430,000 $530,0 $490,000 $455,000Apex Hospital is in need of major renovation of its electrical system. One of Apex’s governing board members, Willy Watt, is an electrical contractor who is a partial owner of an electrical restoration company. He would like to bid on the project. May he? If he does, what must he do? What must the governing board do? Is there a problem with Mr. Watt’s fiduciary duty? Is there a problem with the governing board’s fiduciary duty? Recommend the best steps that Apex Hospital should follow.
- According to the Public Trustees Act 1978, All unclaimed trust monies must be lodged annually into the unclaimed money's fund - To be lodged into this account, what requirements must be met to be considered 'unclaimed monies'?We know that Tommy has asked Barbie to represent him in a business dealing. We do not know the nature of the business dealing. And we do not know if Barbie is required to put Tommy's interests ahead of her own. Analyzing what you DO know about the situation, what is the most accurate term for the role Barbie is playing with respect to Tommy? fiduciary principal agent clientFreida, who lives in Covington, Louisiana purchased three bonds from a company based in Brazil that were yielding 9.75% and paid a 12% coupon, semi-annually. The company went bankrupt and Freida never received her money. What type of risk caused Freida's loss? Interest rate risk. Default risk. Exchange rate risk. Executive risk.
- Companies A and B differ only in their capital structure. A is financed 30% debt and 70% equity: B is financed 10% debt and 90% equity. The debt of both companies is risk-free. a. Rosencrantz owns 1% of the common stock of A. What other investment package would produce identical cash flow for Rosencrantz? b. Guildenstern owns 2% of common stock of B. What other investment package would produce identical cash flows for Guildenstern?Joe took out a loan to purchase a new house. In return, Joe's lender placed a lien on the property. Is this legal? O No. Only Joe can place a lien his property. O No. A lender is never allowed to place a lien on a property as long as the borrower is up-to-date ontheir payments. О Yes. This is a voluntary mortgage lien that allows the lender to foreclose on the property if Joe defaults on the loan. O Yes. However, the lien is only valid for 12 months.4. Explain how the existence of a lender of last resort might prevent bank runs.