Alex and Francis are partners of a land development business. Francis got to know that Alex has
Question:
Alex and Francis are partners of a land development business. Francis got to know that Alex has sold a plot of land belongs to the partnership and deposited money in his account at the XYZ Bank. It was further revealed that Alex was planning to transfer money to his foreign bank account and move to another country for good. Francis is looking forward to suing Alex and wondering if he could obtain an order to prevent Alex from taking money to another country.
Alex has asked your legal firm for general advice on whether he could sue Francis and if so, what would be his chances of success. Your team leader has requested that you provide a report focusing on the following:
- What equitable cause of action that Alex may have against Francis?
- What equitable remedies that Alex is entitled to?
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta