Nicolas is the director of Bit Industries, a drill manufacturer. He is also a major shareholder of Deep Green Corp., a leading landscaping tools manufacturer. Bit undergoes a financial crunch and finds it difficult to raise money. Nicolas signs up Bit as a supplier of drills to Deep Green Corp. Having obtained a new client, Bit manages to avoid financial distress. However, Nicolas has not informed anyone of what he has done. Can this transaction be voided? If yes, on what grounds can it be voided?

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The Answer of Nicolas is the director of Bit Industries, a drill manufacturer. He is also a major shareholder of Deep Green Corp., a leading landscaping tools manufacturer. Bit undergoes a financial crunch and finds it difficult to raise money. Nicolas signs up Bit as a supplier of drills to Deep Green Corp. Having obtained a new client, Bit manages to avoid financial distress. However, Nicolas has not informed anyone of what he has done. Can this transaction be voided? If yes, on what grounds can it be voided?

Nicolas Is the Director of Bit Industries, a Drill Manufacturer