Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Exceptions to the rule in Foss v Harbottle:
According to Professor Wedderburn, the so-called exceptions are essentially no exceptions at all. They appear to be circumstances in that such there is no chance of confirmation by the majority and to which the rule is, therefore, inapplicable.
However, the exceptions were summarised by Jenkins, L.J. in Edwards v Halliwell (100) as follows-
1. Ultra vires and illegality
"Where the act complained of is wholly ultra vires the company or association the rule has no application because there is no question of the transaction being confirmed by whichever majority," (per Jenkins, L.J.)
2. Special majorities
The rule in Foss v Harbottle does not prevent an individual member from suing if the matter in respect of which he was suing was one which could be done or sanctioned, not through a simple majority of the members of the company or association (i.e. an ordinary resolution), but only by some special majority (i.e. a special resolution) which has not been obtained.
Assets and liabilities of the company: Within 14 days of the making of the order for winding up a statement of affairs must be delivered to the liquidator (Official Receiver)
What is vicarious liability? Liability of the employer and employee: An employer may be liable like a result of a negligent action executed through the employee. It is term
What is the dispute resolving mechanism Obligation to follow a treaty between states arises only when it has been concluded in a written form. Moreover, a treaty must be in a
Legal Protection - significant instances: There are however a few but significant instances in which the Companies Act and the general law prescribe certain legal limits on t
You are the HR manager of a large manufacturing company which employs both unionized and non-unionized employees. You have a non-unionized employee, Edith, who has worked for the c
Part A A director has a duty to exercise care, skill and diligence at common law and also a statutory duty of care and diligence under s180 (1) Corporations Act 2001 (Cth) in c
QUESTION 1 Outline the procedure and criteria for the granting of recognition of representational status and recognition of negotiating rights QUESTION 2 (a) What do yo
Explain about the tort of negligence. A form of civil wrong where a contract doesn’t exist among the two parties and this is not a crime where punishment is the major goal to t
You act for Fred who is the secured lending manager of BigBank. He has a troublesome customer, Macs Tires Pty Ltd. This is a family run tire business with three directors. The prin
Directorship - company management: A directorship is not a professional job with a legally prescribed qualification. In the circumstances, anybody (even a six-months-old baby)
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd