Question: please help me with this question Question 3 (a) Judy entered into a written contract with James to sell her land to James for RM

 please help me with this question Question 3 (a) Judy entered

please help me with this question

into a written contract with James to sell her land to James

Question 3 (a) Judy entered into a written contract with James to sell her land to James for RM 1 million. However, Judy changed her mind. She then incorporated a company, Judy and Julie Sdn. Bhd. and sold the land to the company instead. When James wanted to execute the contract, Judy informed James that the company has bought the land. Advise James according to the Companies Act 2016. (10 marks) (b) Lydia is a famous fashion designer who produces high end luxury shoes and owns a company called Lydia Luxury Sdn. Bhd. Due to COVID-19, sales has not been good and Lydia Luxury Sdn. Bhd. is suffering from financial difficulties. Due to this, Lydia issued a debenture for the sum of RM30,000 under her name upon lending some money to the company. After 3 months from the date of the issuance of the debenture, the company went into liquidation. Lydia paid all the secured creditors including herself. Jacob, an unsecured creditor who is also a minority shareholder of the company, opposed to the fact that Lydia was able to secure herself through an issuance of debenture. According to him, Lydia is a director of Lydia Luxury Sdn. Bhd. and being an owner of the company, she is not entitled to be a secured creditor. Jacob intends to take legal action against Lydia on the reasons stated above but Jacob is also uncertain whether the action will be initiated in his name or the company's name. Advise Jacob on the legal matters under Company Law. (15 marks) (Total: 25 marks)

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