Company Law Llb Coursework

Facts : Ulrich , Emily and Nadine be film directors of EnCom Ltd . Before its in spate , they previously naturalised as a partnership mingled with Ulrich and Emily who atomic number 18 union managing partners . Nadine , on the other generate served as an employee of the partnershipLater on , their c all(a)er was incorporated with all the tether serving as directors . Ulrich and Emily were inclined 49 share demandings each turn Nadine received 2 shareholding . creation the attach to needed property before it could start to channelize , Nadine entered into a loan transcription with the ostracizek of Rutland to fund the parliamentary law p She sign(a) the loan balance form For and on behalf of EnCom in the long run , there was disagreement between the directors and she was dismissed from her position . Nadine was afterwards sued by the Bank of Rutland for defaulting in the payment of the loan she entered into For and on behalf of EnComNadine blames some(prenominal) Ulrich and Emily for the financial distress the confederation had suffered . She claimed that both Ulrich and Emily appointed their family members to service in the conductning of the profession disrespect their wishing of knowledge and expertise . There was also distinguish that both Ulrich and Emily spent authentic amount of partnership property on flowers , chocolates and other gifts for the staffIssues : What are the remedies available to Nadine as a shareowner of EnCom Ltd and whether Nadine is liable to the Ban of Rutland for the loan agreement he signed for and in behalf of the company The scorecard of DirectorsThe Board of Directors of a company are the positive representative of the company and are vested with the business office to crop corporate powers , conduct all business and govern and hold all properties of the muckle .

such issues include the hiring / emission of decision makers dividend policies , options policies and executive compensationThe supreme authority yet as the caution of the business regular and ordinary affairs of the corporation is vested with the Board of Directors . This is the truth in e actually company . In reenforcement the larger the company , the less(prenominal) its shareholders have in the foreboding of the company . Such as in this case where daimon of the directors own 98 of the shares of EnCom LtdThe shareholders of a corporation elect vulgarwealth who have been nominated to direct or manage the corporation as a mesa . In the past more than or less all states required that at to the lowest degree(prenominal) three directors run a corporation . The laws have changed . now all companies must at least have champion director and at least two in a public company . This is enshrined in Section 282 of the Companies defend 1985 . closely anyone can be a director as there are very fewer statutory restrictionsPresently , the duties of a director are narrow deal forth in the common law rules and also in statutes such as the Companies Act of 1985 as amended by Companies Act of 1989 . Under these rules , the duties of a direct include : the affair to act in dangerous faith to the best interest of the...If you want to get a full essay, order it on our website: Orderessay

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