Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Desmond was appointed director and managing director of Candore Limited. The terms of his service contract provided that he should hold office for eight years

Desmond was appointed director and managing director of Candore Limited. The terms of his service contract provided that he should hold office for eight years and this term was also stated in Candor's Articles of Association. The other directors decided that Desmond should be removed from those positions and they placed such a resolution before shareholders at a general meeting and it was duly passed. Desmond is certain that his removal would be in breach of the Articles of Association as well as his contract and intends to seek legal advice.

A. Draft a statement for the board of directors explaining whether shareholders had authority to pass the resolution. Also, suggest what legal redress Desmond might have.

B. Submit TWO (2) duties and TWO (2) rights of a partner.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials of Business Law

Authors: Anthony Liuzzo

9th edition

007802319X, 978-0078023194

Students also viewed these Law questions

Question

For what political reasons does a government intervene in trade?

Answered: 1 week ago