Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer this question for me. I do not understand how to approach it. On March 4, 2020, the company secretary for Reggae Vibes Limited

Please answer this question for me. I do not understand how to approach it.

On March 4, 2020, the company secretary for Reggae Vibes Limited sent out notices to the shareholders of the company advising of the annual general meeting to be held on March 25, 2020. Included in the notice was the proposed resolution, which was to change the name from Reggae Vibes Limited to Dancehall Company Limited Mr. Voice cartel , an ordinary shareholder did not receive the notice as there was a power outage at the time the notices were being printed for dispatch. This resulted in Mr. Voice cartel not receiving notice of the meeting and he did not attend the meeting. At the meeting Ladysing, one of the controlling shareholders moved another resolution to pay the directors a one-off payment of $500,000.00 each, in recognition of their outstanding service to the company over the past year. The articles of incorporation for the company provided that four persons would form a quorum and that no business shall be transacted "except quorum is formed when the meeting proceeds to business". Also included in the articles was a provision that accidental omission to give notice or non-receipt of notice by any person entitled to receive such notice shall not invalidate the proceedings at the meetings. Four members attended the general meeting of the company. There was a disagreement among the members and one member stormed out of the meeting. The remaining three members passed the resolutions.

Advise the company on all issues identified above.

Proper identification of legal issues (3 marks)

Discussion of the relevant law concerning the issues (7 marks)

Application of law to facts of the case (7 marks)

Conclusion and advice (3 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

International Financial Reporting and Analysis

Authors: David Alexander, Anne Britton, Ann Jorissen

5th edition

978-1408032282, 1408032287, 978-1408075012

More Books

Students also viewed these Law questions

Question

Explain the importance of Human Resource Management

Answered: 1 week ago