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COMPANY MANAGEMENT:
A company, being an artificial person, cannot manage its own affairs. It is therefore not surprising to find that the articles of every registered company have provisions regarding the delegation of powers pertaining to the company's management. For example, Table A, Article 80 provides that "the business of the company shall be managed by the directors".
Numbers of Directors
S.177 provides that every company (other than a private company) shall have at least two directors three, and each private company shall have at least one director. Under Table A, Article 75 the actual number of the directors would initially be decided upon by the subscribers of the memorandum, or a majority of them, and until so determined the signatories to the memorandum of association shall be the first directors. Table A, Article 94 empowers the company from time to time by ordinary resolution to increase or reduce the number of its directors.
Jerry contracted with Sally to purchase Sally’s Restaurant for $50,000ion #Minimum 100 words accepted#
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