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

Alternative dispute resolution, "The liability of third party neutrals has ...

"The liability of third party neutrals has been a topic of concern ever since the formalisation of dispute resolution in Australia.  Although there are no known cases in Australia

Explain unhcr, Explain UNHCR UNHCR provides protection and assistance n...

Explain UNHCR UNHCR provides protection and assistance not only to refugees, but also to other categories of displaced or needy people. These include asylum seekers, refugees w

Nemo dat quod non habet - sales of goods, Nemo Dat Quod Non Habet - Goods ...

Nemo Dat Quod Non Habet - Goods Therefore another common law maxim such applies to sale of goods is like "nemo dat quod non habet": whether a person cannot give such he does

Discuss common law and statutory duty, Part A A director has a duty to ...

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

Explain about the codified systems, Explain about the codified systems. ...

Explain about the codified systems. Codified (civil law) systems: It is a rule based approach to law making and it is designed to give a comprehensive code of laws for th

Representations regarding character or credit, Representations Regarding Ch...

Representations Regarding Character or Credit Since statements relating to a person's credit-worthiness will only be actionable whether made in pursuance of a contract that wa

Successive stages of a capital reorganisation, Successive stages of a capit...

Successive stages of a capital reorganisation: There was a sequence of general and class meetings to approve the successive stages of a capital re-organisation.  Out of 1,600

Disadvantages of stare decisis , Disadvantages of Stare Decisis Over...

Disadvantages of Stare Decisis Over-subtlety or Artificiality However a judge is forced, but it were follow an earlier case that, his conscience may preclude him from

Functions and powers of the united nations general assembly, What are the f...

What are the functions and powers of the United Nations General Assembly? The functions and powers of the United Nations General Assembly are as illustrated here: • To see a

District magistrate''s court - civil jurisdiction, District Magistrate's Co...

District Magistrate's Court - Civil Jurisdiction Conversely the civil jurisdiction of the district magistrate's courts in claims not below customary law was changed through St

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