【Questions】
16 Which TWO of the following statements about fraudulent trading are correct?
A.It constitutes trading with the intention to defraud creditors
B.Only directors and shadow directors may be liable for fraudulent trading
C.It can result in both a civil and a criminal action
D.It is defined as trading when the person is aware or should have been aware that the company was insolvent and failed to
minimise losses
17 Which TWO of the following statements about a company administration order are true?
A.The administration will end after 12 months or when it has been successful
B.Once an administration order is granted, all of the company’s employees are automatically dismissed
C.The administrator may state that the company cannot be rescued
D.Fixed chargeholders are still able to repossess charged assets during administration
18 Billy bought Ade’s car for £1,000. Billy gave the car to Chloe, his wife. The car had a faulty gearbox and has just broken
down and is irreparable.
A.In relation to privity of contract which of the following statements is true?
B.Billy can sue Ade
C.There is no right to sue hloe can sue Ade
D.Chloe can sue Billy
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