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JackandJosephineare majorityshareholders and theonlydirectorsofWaterflow Limitedacompanyincorporatedunder--theCompaniesAct2004.Thecompany hasrecently made hugeprofitsbyhiring water tankers to two large water companiesinSt. Elizabethto transportwatertoalleviateproblems causedbylackof rain.JackandJosephine proposed at the board meetingthat the
- JackandJosephineare majorityshareholders and theonlydirectorsofWaterflow Limitedacompanyincorporatedunder--theCompaniesAct2004.Thecompany hasrecently made hugeprofitsbyhiring water tankers to two large water companiesinSt. Elizabethto transportwatertoalleviateproblems causedbylackof rain.JackandJosephine proposed at the board meetingthat the directorsawardthemselvesa massivepay rise,whichwouldhavetheeffectoftaking theirmonthly salaryfrom$400,000 to $800,000. AdviseMarkaminorityshareholderwhointendstochallengethevalidityofthe directors' action incourt.
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Essentials of Business Law and the Legal Environment
Authors: Richard A. Mann, Barry S. Roberts
12th edition
9781305445734, 1305075439, 1305445732, 978-1305075436
