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In February 2005, Mr Tony began preparations to form a company which would bid for a contract to supply posters to promoter London's Bid for the 2012 Olympic Games. The company Would be called 'Posters Ltd'. in March 2005, Mr Tony received a loan of £10,000 from Floyds Bank to finance the proposed company's bid for the contract. A clause in the loan agreement stated: 'By this agreement made between you 'Posters Ltd' and ourselves, we 'Floys Bank' agree to lend you and you agree to borrow frow from us the sum of £10,000 on our term and conditions set out below.'' In April 2005, Posters Ltd was registered . However, the company lost the contract to a river company and quickly went into liquidation without repaying the loan .in fact, the money had been spent on financing the company's bid for the contract. Question Mr Amos, the branch manager of Floyds...

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