Case law - statutory provisions, Business Law and Ethics

Assignment Help:

CASE LAW:

   The aforesaid statutory provisions for the protection of minorities have been supplemented by judicial intervention in a variety of cases which are generally explained under the following major headings:

 Fraud on the Minority

Professor Gower, writing on fraud on the minority, has stated:

                   ".......the exact meaning of the expression 'fraud on the minority' is not easy to determine.  But at least it is clear that both 'fraud' and "minority" are used somewhat loosely.  There need not be any actual deceit; if there were, those on whom it was practiced would have a common law remedy against those who had wilfully deceived them.  "Fraud" here connotes an abuse of power analogous to its meaning in a court of equity to describe a misuse of a fiduciary position.  Nor is it necessary that those who are injured should be a minority; indeed, the injured party will normally be the company itself, though sometimes those who have really suffered will be a class or section of members, not necessarily a numerical minority, who are outvoted by the controllers.  It covers certain "acts of a fraudulent character"- in the wider sense just described - of which "familiar examples are when the majority are endeavoring directly or indirectly to appropriate to themselves money, property or advantages that belong to the company or in which the other shareholders are entitled to participate".


Related Discussions:- Case law - statutory provisions

Who are the persons to whom administrative law apply, Question 1: Trace...

Question 1: Trace the development of administrative law in the English legal system from its questioned beginning to the present day. What recognition is it being given today i

Voluntary liquidation - shares of the minority , Voluntary liquidation - sh...

Voluntary liquidation - shares of the minority: A company in (or about to go into) members' voluntary liquidation may by special resolution authorize the liquidator to sell th

Proxies - meetings and resolutions, PROXIES - meetings and resolutions: ...

PROXIES - meetings and resolutions: By S.136(1), any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint one more person (

Appropriate method adopted is to make new laws, Appropriate method adopted ...

Appropriate method adopted is to make new laws The more appropriate method adopted is to make new laws in compliance with the international laws because it would not only help

Distinguish between industrial and employee relations, Question 1: (i) ...

Question 1: (i) Distinguish between industrial relations and employee relations. (ii) State the environmental factors that affect employee relations. (iii) Give five r

Confession hypothetical, Case Study The following scenario should be an...

Case Study The following scenario should be analyzed to determine whether police proceeded properly under the applicable cases.  Your task is to identify issues of concern, eva

Chartered companies, Chartered Companies: A chartered company is forme...

Chartered Companies: A chartered company is formed when the Queen or King of England issues a charter, or "letters patent", to a group of people who intend to carry on a busin

What are the fact finding ethics, The phrase called information overload ma...

The phrase called information overload may be a bit of a problem because it used so often, but the fact remain that managers & support staff are merged in information of all kinds.

Formation of contract - law of contract, Formation of Contract - Law of Con...

Formation of Contract - Law of Contract However a legally binding agreement prepared between two or persons or more parties.  Whereas it has also been explained as a promise o

Theories of international antitrust coordination, Theories of international...

Theories of international antitrust coordination We have come across various policy coordinations and adjustments but still there are other spheres of affairs where direct poli

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd