Forms of action, Business Law and Ethics

Forms of action:

A minority of shareholders or an individual shareholder suing under one of the above exceptions may institute one of the following actions

i) A personal action

                   Where an individual member sues not in right of the company but in his own right to protect his individual rights as member, he can bring an action in his own name and may sue on behalf of himself and other members.  An example is Pender v Lushington in which a shareholder was able to enforce the article giving him a right to vote at meetings and compel the directors to record his vote.  Other instances in which an individual member can sue in his own name include:-

(a)   When the company is acting illegally or ultra vires;

(b)   Where a special majority is required and has not been obtained (eg. Edwards v Halliwell);

(c)    Where the company is acting contrary to its articles (eg. Wood v Odessa Waterworks Co Ltd)

Posted Date: 1/15/2013 3:02:01 AM | Location : United States







Related Discussions:- Forms of action, Assignment Help, Ask Question on Forms of action, Get Answer, Expert's Help, Forms of action Discussions

Write discussion on Forms of action
Your posts are moderated
Related Questions
In light of some latest accounts coming into the company and working to promote its latest services, IDSS has also make a few trademarks to ensure and protects its innovative techn

Question 1 - Hatfield owned a large farm on which he grew grain. His combine was inadequate in relation to the acreage of grain that he harvested annually. As a result, on seve

Hi Dear, Could you please help me in online exam in ( Bus Law for Accounts).!! the exam will be open within one hour and half. Thank you

Define the term - Media are a potentially privileged Media are a potentially privileged means of communication in three ways: They help to coordinate and link policy relevant a

Explain important part in the international law The Use of force is a controversial and complicated issue at international level. The United Nations (UN) Charter declared it un

Business and Social Agreements Business Agreements Therefore is a rebuttable presumption that parties intended generate a legally enforceable agreement to example in Cr

Define the term - Credibility and Reputation Nature and characteristic of the environment in which a policy has been chosen has a number of important implications. As we have a

Types of Agency

Name to end with the word "Limited":                             S.5(1)(a) provides that the word "limited" must be the last word of the name of a company which is to be limit

Implied Conditions and Warranties - Sales and Goods Whether section 8 of the Act implies that the next terms in every hire purchase agreement like: a) Right to sell: whethe