Question
Jim has purchased 25% of the shares in Zig Zag Pty Ltd, a small proprietary company. The legal effect of this transaction is that: a.
- Jim has purchased 25% of the shares in Zig Zag Pty Ltd, a small proprietary company. The legal effect of this transaction is that:
a. Jim owes 25% of Zig Zag Pty Ltd's liabilities.
b. Jim owns 25% of the assets of Zig Zag Pty Ltd.
c. Jim has a 25% say in the management of the company.
d. Jim has acquired certain rights, such as voting rights and the right to receive a dividend (once declared).
| a. | Jim owes 25% of Zig Zag Pty Ltd's liabilities. | |
| b. | Jim owns 25% of the assets of Zig Zag Pty Ltd. | |
| c. | Jim has a 25% say in the management of the company. | |
| d. | Jim has acquired certain rights, such as voting rights and the right to receive a dividend (once declared). |
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Tort Law Text Cases And Materials
Authors: Jenny Steele
5th Edition
0198853912, 978-0198853916
