Sample short answer questions:
- What are the statutory remedy available for members?
- If a company wants to sue, what appropriate statutory remedy is available? Explain with relation to authority.
Is there any equitable limitation for majority shareholders acting in an inappropriate manner with the minority shareholders? A group of members at Opti Ltd have been oppressed by the directors of the company. What statutory remedy is available to them? (Refer to the authority when explaining the statutory remedy).
- Explain the remedy that is available to enforce the right of a company. (Refer to authority when explaining the statutory remedy).
- Adele is a director of Music Ltd. She is being sued for a breach of duty of care. She wants to argue that she utilised a business judgement. Explain to Adele the requirements of business judgement rule with reference to relevant authority.
The majority of members want to pass a resolution to change the constitution of IGA Ltd. This resolution would be harmful to minority of members as the majority members want to exploit the minority shares of the members. Advise whether such a resolution to amend the constitution can be passed. Discuss why might a director argue reliance as a defence to a breach of duty and care? Explain the defences relevant that can be argued for insolvent trading. Explain share capital and the different types of shares options available.