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DIRECTORS

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › DIRECTORS

  • This topic has 1 reply, 2 voices, and was last updated 1 month ago by MikeLittle.
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  • Author
    Posts
  • August 10, 2023 at 12:07 am #689645
    whydoyoucare
    Participant
    • Topics: 45
    • Replies: 38
    • ☆☆

    Q:1)
    Clean Ltd was established some five ears ago to manufacture industrial solvents and cleaning solutions, and Des was appointed managing director.
    The company’s main contract was with Dank ole a large industrial conglomerate. The managing director of Dank plc is a friend of Des’s and has told him that Dank pic will not be renewing its contract with Clean Ltd as he is not happy with its performance. He also told Des that he would be happy to continue to deal with him, if only he was not linked to Clean Ltd.
    Following that discussion Des resigned from his position as managing director of Clean Ltd and set up his own company, Flush Ltd which later entered into a contract with Dank pic to
    replace Clean Ltd.

    task 1) What remedy is Clean Ltd most likely to seek in relation to Des’ breach?

    Damages for loss suffered
    An account of any profits made by Des on the contract between Flush Ltd and Dank pic
    Rescission of contract between Flush Ltd and Dank plc
    Compulsory winding up of Flush Ltd

    Why is the answer 2? And not recission or damages? These are also the remedies, how to select?

    August 10, 2023 at 8:32 am #689663
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23001
    • ☆☆☆☆☆

    This question is based on the case IDC v Cooley. It would be worth looking up that case in google

    What damages has Clean suffered? Dank has already indicated that they were not going to renew the contract with Clean so no damages have been suffered – they weren’t going to benefit any more from their association with Dank.

    Where I’m in a contract with OpenTuition, what right has a third party (you?) got to rescind that contract? None!

    I assume you’re happy that compulsory winding up is totally out of the question

    OK?

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    Posts
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