Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 15.2 On 1 February 2022, Rita entered into an agreement to sell her 10,000 shares in Counter Bhd to Sally. Sally paid Rita the

Question 15.2

On 1 February 2022, Rita entered into an agreement to sell her 10,000 shares in Counter Bhd to Sally. Sally paid Rita the purchase price of RM25,000 for the shares on 5 March 2022. Sally lodged the transfer with the company on 13 March 2022. The shares were transferred to Sally on 29 March 2022. Discuss the following separately:

(a) When did Sally become a member of Counter Bhd?

Answer

(b) Assuming that the company is paying dividend on the shares on 15 March 2022, should the company pay the dividend to Rita or Sally?

Answer

(c) Assuming that the shares are not fully paid up, leaving a balance of RM4,000. The company wants to call on the unpaid sum. Who is liable to pay the RM4,000 to the company?

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

Company Law

Authors: Janet Dine, Marios Koutsias

9th Edition

1352010003, 978-1352010008

More Books

Students also viewed these Law questions

Question

What has been the evolution of HRM?

Answered: 1 week ago

Question

What would you do?

Answered: 1 week ago