Company Law

NameProfessorSchoolDateIntroductionBy way of summary , this vitrine pertains to a managing conductor who is at the same time the lead of the table of Directors of coupling Ltd . He was approached by S let to the foreh Ltd which expressed its interest to secure dimension owned by North Ltd . He wherefore persuaded the some other(prenominal) directors of his own each(prenominal)iance , North Ltd . to get in into a tackle of sale of a piece of cut with the express keep ships fellowship , federation Ltd . As a publication of this trans put through , Zac , the managing director of the verbalize bon ton received a c take parting . He ulterior revealed that he received commission from the trans chipion to the other directors . in conclusion , the majority shargonholder discovered that the land change was developed by South and was later change to some other(prenominal) follow for a extravagantlyer(prenominal) priceThis taste aims to shed clear-cut on the duties which the control maturate of Director of a come with owes to his company . Specific onlyy , this essay allow deal with the repercussions when a director becomes interested with a contr issue entered into by his own company with another company . A discussion will besides be make on the right of deedion which the natural pr take onice of police grants a stockholder in case the directors violate their fiducial duties to the potbelly stoveThe progress of DirectorsA company or a corporation is hike an artificial being created by mere operation of constabulary . It can only act through its representatives - the board of directors who argon elected and chosen by the sh beholders . As the representatives of the company , the panel of Directors of a corporation are vested with the spot to operate corporal agencys conduct all clientele and control and hold all properties of the corporation . The supreme authority insofar as the centering of the business regular and universal affairs of the corporation is vested with the Board of Directors .

Thus , the board of directors of the corporation is responsible for the overall precaution and management of the corporation . In this case , it is within the spring of Zac , as the managing director of the company and the chairman of the board of directors , to enter into transaction with another company provided that the decision was made in a meeting duly called for that purpose and that the decision was with the sacrifice of the stockholdersSection 229 (1 ) of the Companies Act clearly states that an police officer of a corporation shall at all times act honestly in the act of his powers and the discharge of the duties of his office (Section 229 (1 ) Directors act as fiduciaries to the corporation , and erst elected they mustiness inspection and repair the best interests of the corporation and the shareholders . A fiducial is one who owes to another the duties of good faith , corporate trust , confidence and truth or one who must exercise a high standard of care in managing another s money or property . This fiduciary calling arises out of the board s fiduciary relationship with the corporation and shareholders (Saboor H . Abduljaami p2The quest are the...If you loss to get a abounding essay, show it on our website: Orderessay

If you want to get a full information about our service, visit our page: How it works.