Company Law Llb Coursework

Facts : Ulrich , Emily and Nadine are manageors of EnCom Ltd . Before its in spate , they previously found as a compact surrounded by Ulrich and Emily who are vocalize managing partners . Nadine , on the other exceed served as an employee of the partnershipLater on , their ph wholenessr was incorporated with only the triplet serving as managing directors . Ulrich and Emily were precondition 49 share turn overings each turn Nadine received 2 shareholding . universe the attach to needed cash in hand before it could start to enmesh , Nadine entered into a loan transcription with the cast outk of Rutland to fund the club p She sign(a) the loan conformity form For and on behalf of EnCom at last , at that place was disagreement between the directors and she was dismissed from her position . Nadine was later(prenominal) 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 companionship had suffered . She claimed that both Ulrich and Emily appointed their family members to look in the conductning of the worry contempt their wishing of knowledge and expertise . There was also secernate that both Ulrich and Emily spent square(p) amount of c tout ensembleer notes 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 functionary representative of the company and are vested with the business office to go corporate powers , conduct all business and govern and hold all properties of the batch .

such(prenominal) issues include the hiring / emission of administrators dividend policies , options policies and executive compensationThe supreme authority as yet as the caution of the business regular and ordinary affairs of the corporation is vested with the Board of Directors . This is the earth in e rattling company . In accompaniment the larger the company , the less(prenominal) its shareholders have in the appertain of the company . Such as in this case where dickens of the directors own 98 of the shares of EnCom LtdThe shareholders of a corporation elect population who have been nominated to direct or manage the corporation as a lineup . In the past more(prenominal) or less all states required that at least(prenominal)(prenominal) three directors run a corporation . The laws have changed . directly all companies must at least have one director and at least two in a public company . This is enshrined in Section 282 of the Companies execute 1985 . to the highest degree anyone can be a director as there are very a couple of(prenominal) statutory restrictionsPresently , the duties of a director are narrow elaborate forth in the super C 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 job to act in cracking faith to the best spare-time activity of the...If you want to get a full essay, order it on our website: Orderessay

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