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The rule in Foss v Harbottle establishes the principle that where a wrong is done to the company, the proper plaintiff is the company itself. However, where the wrong is done by the company directors, it may be impossible for the company to sue. In such a case, a derivate action may be the only option. a) Explain what is meant by “derivative action”. b) Describe the conditions that must be satisfied before a derivative suit can be instituted
Date posted: February 5, 2019 . Answers (1)
Define the term "prospectus" and explain the circumstances under which a company may issue a prospectus.
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Wafula, one of the Directors of Hopeful Co. Ltd is unsure of his duty of care and skill as a director of the company. He seeks your advice on this. Advise him.
Hopeful, a private limited company has adopted Table A as its Articles of Association. The company now, wishes to alter the Articles of Association. Outline the procedure to be followed to effect the change.
In relation to company law describe the common law duties of a Promoter.
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