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John, Beth and Lucas are the directors of Fine Food Plc. John is the managing director.John entered into a contract on behalf of Fine Food plc with Most Meat Ltd,which undertook to supply a quantity of meat to Fine Food plc. Although Most Meat Ltd paid him a significant commission for securing the deal, John did not mention this to anyone else.
Beth has been asked by John to purchase 50 deep fryers for Fine Food plc. Unknown to other directors, Beth runs her own company that sells deep fryers and she gives the lucrative Fine Food plc contract to her own company. Beth does not mention this to the other directors of Fine Food plc.
Lucas has responsibility for Fine Food plc’s marketing strategy and he has taken a number of decisions without consulting his fellow directors.It was recently revealed that his decisions were contrary to Fine Food plc’s company policy and resulted in a loss of profits.When the board of Fine Food plc questioned Lucas’s actions, he argued that he rarely attends board meetings, and was therefore unaware of the fact that his decisions were contrary to company policy.

Advise John, Beth and Lucas as to any liability each may incur with regard to a breach of their legal duties towards Fine Food plc.
N/B (Please relevant case laws and statutes needed)

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Company Law

Topic: Company Law

Order Description
Question:
The recognition of a limited power to pierce the corporate veil, in carefully defined circumstances, is deemed necessary; but in the case of corporate groups, it is
perhaps preferable to come up with a different legal construction, with a view to achieving a more practical and fairer outcome.
Critically discuss, with reference to case law, the accuracy of the above statement.

Instruction:
Please use at least 20 cases out of the 12 resources requested. Please use OSCOLA reference.

Responses are currently closed, but you can trackback from your own site.

Comments are closed.

Company Law

Topic: Company Law

Order Description
Question:
The recognition of a limited power to pierce the corporate veil, in carefully defined circumstances, is deemed necessary; but in the case of corporate groups, it is
perhaps preferable to come up with a different legal construction, with a view to achieving a more practical and fairer outcome.
Critically discuss, with reference to case law, the accuracy of the above statement.

Instruction:
Please use at least 20 cases out of the 12 resources requested. Please use OSCOLA reference.

Responses are currently closed, but you can trackback from your own site.

Comments are closed.

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