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Mr. Ansah is a business man he recently moved from the United States of America to Ghana and he was introduced toyou through a mutual
Mr. Ansah is a business man he recently moved from the United States of America to Ghana and he was introduced toyou through a mutual friend. Mr. Ansah has made a lot of money from working in the Bank of America and he wants toset up a car manufacturing business in Ghana. He does not know how to go about it. He actually does not intend tostay in Ghana to run the business himself but his 20 year old son, who just graduated from MIT in US wants to settledown in Ghana, so he wanted to make him the Managing Director of the company he wants to set up. Also, Mr. Ansahwants the company to have only two directors â?? himself and his son, Seth.Seth Ansah, does not know anyone in Ghana except his fiancée (Maame) whom he met at MIT. Maame knows thatyou took a course in law and she came to your office with Seth Ansah to make enquiries on how they can set up thecompany, which they have decided to call Ansah Car Manufacturing Company Limited â?? ACMCL for short. According toMr. Ansah, he wants a 60% shares in the company with the remaining 40% going to his only son, Seth. Meanwhile,Seth also wants to make Maame a director of the company but his father is refusing on grounds that Maame being 18years cannot enter into any binding agreement in Ghana since she is considered a minor under Ghanaian law.With the above narration and the laws on Contract and Company Law, answer with the support of the relevant legalauthorities ( that is laws, regulations, case laws or policies), the underlisted questions: a. Can Mr. Ansah, be a director eventhough he is not living in Ghana? [1 mark] b. Provide the legal basis for your answer to question (a) [4 marks] c. Can Seth Ansah enter into any binding contract as the Managing Director of the company? [5 marks] d. Can Maame and Seth Ansah, being in an amorous relationship be directors of the same company? [5 marks]e. What would be your general advice to Mr. Ansah considering the above scenario? Should he go ahead and setup the company? [5 marks]
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a Yes Mr Ansah can be a director of the company even though he is not living in Ghana b According to the Ghana Companies Act 2019 Act 992 a director d...Get Instant Access to Expert-Tailored Solutions
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