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company law 3. Dave is a minority shareholder in ABC Company Ltd. Andy, Bev and Carol are also major controlling shareholders and in addition, they
company law
3. Dave is a minority shareholder in ABC Company Ltd. Andy, Bev and Carol are also major controlling shareholders and in addition, they hold the position of chairman, managing director and financial director respectively. Dave is aggrieved that: i. The company has just sold 5 acres of land to Bev's cousin at half the price the company paid for it ii. The company has recently engaged Andy's uncle as its marketing director at an annual salary of $5 million. His service contract includes a provision that in the event of his death, his widow shall continue to receive his annual salary by way of pension payment for the rest of her life. Andy's uncle was in very poor health at the time of his appointment. Andy, Bev and Carol do not admit that anything improper has taken place. Advise Dave on the legality of Andy, Bev and Carol's action and whether he can bring an action against them. 4. The articles of association of ABC Ltd. a public company provides inter alia 'At a general meeting of the company, subject to any right or resolutions for the time being attached to any class or classes of shares, on a show of hand, every member in person shall have one vote' Marvin, a shareholder who was present at a general meeting of the company voted but the directors refused to register his vote in connection with passing of a special resolution. Advise Marvin who wants to compel the directors to register his voteStep by Step Solution
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