Forms of action, Business Law and Ethics

Assignment Help:

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)


Related Discussions:- Forms of action

What are the main stages of money laundering, QUESTION1 Compare and con...

QUESTION1 Compare and contrast the Securities Act with the Insurance Act QUESTION 2 (a) What are the main stages of money laundering? (b) Explain the legal framework

State the issues relating to the public policy, State the issues relating t...

State the issues relating to the public policy We shall focus on the issues relating to the public policy in an open economy setting in a bit more technical way. While approac

State article 10 of air and outer space law, State Article 10 of air and ou...

State Article 10 of air and outer space law Article 10 allows the aircraft to cross the territory of a contracting State without landing, and further states that every aircraft

Describe remedies available for a case of judicial review, Question 1: ...

Question 1: (a) What is meant by: (i) Ratio Decidendi (ii) Obiter Dicta (iii) Legal Doctrine (b) Distinguish between Criminal Law and Civil Law.

Explain about the tort of negligence, Explain about the tort of negligence....

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

Legal personality and its likely consequences, Jack has operated a house bu...

Jack has operated a house building business as a sole trader for a number of years. Now, his accountant has recommended that he should consider registering as a company in order to

Powers of managing director, Powers of Managing Director:             ...

Powers of Managing Director:             Article 109 offers that "the directors may entrust to and confer upon a managing director any of the powers exercisable by them upon s

Assets in the possession of creditors, ASSETS IN THE POSSESSION OF CREDITOR...

ASSETS IN THE POSSESSION OF CREDITORS:  If the creditor has seized assets in the course of executing a judgement for debt against the company and at the commencement of the wi

Explain pacific settlement of disputes, International Peace and security ...

International Peace and security Pacific settlement of disputes means to resolve disputes to avoid threats to International Peace and security so that such disputes do not beco

Commercial Law, Silcraze City Council owns and operates a Gym. It charges $...

Silcraze City Council owns and operates a Gym. It charges $20 per month as membership fees. On the Gym Membership Card it is written that the Cardholder has the right to use all th

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