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

Recommendations for addressing phoenix activities, Recommendations for addr...

Recommendations for addressing phoenix activities Over the past two decades there have been a significant range of proposals for addressing phoenix activity. Most of these opt

Jurisdiction over your company, a) Determine which forum(s) Purchaser could...

a) Determine which forum(s) Purchaser could file her lawsuit in.   Personal Jurisdiction, b)  If Purchaser were to file in CA, could she formed specific jurisdiction over you

What do you mean by garnishee orders, Q. What do you mean by Garnishee Orde...

Q. What do you mean by Garnishee Orders? The ATO has the power to issue garnishee orders which allow recovery of debts from a person's bank account, wage or from people who owe

Balance sheet, Balance sheet: S.148(2) utilize the directors to prepar...

Balance sheet: S.148(2) utilize the directors to prepare and lay before the company in simple meeting a balance sheet as at the date to such that the profit and loss account,

Rights of co-guarantors, Rights of co-guarantors among themselves A guar...

Rights of co-guarantors among themselves A guarantor who that has paid more than his share below the guarantee is entitled such to contribution from his co-guarantors, although

Entrepreneurship development, In entrepreneurship development, we have stud...

In entrepreneurship development, we have studied various aspects of Entrepreneurship Development, which will help in setting your own workshop. Though all the information has been

canadian business law assignment help, Are you searching Canadian business...

Are you searching Canadian business law assignment tutors for help in your college and university assignments? Do you need expert’s assistance in Canadian law assignments? We at w

Wishes of members of parliament -disadvantages law, Wishes of members of pa...

Wishes of members of parliament -Disadvantages law: However acts of Parliament do not reflect the wishes of the people as voters although the wishes of the individuals that wh

Describe the law making process, Question 1: Discuss what types of norm...

Question 1: Discuss what types of norms can be used to help judges in their interpretation of statutes. Question 2: Discuss the concepts of originalism and dynamism in

Chairman - 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 (

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