Case law - statutory provisions, Business Law and Ethics

Assignment Help:

CASE LAW:

   The aforesaid statutory provisions for the protection of minorities have been supplemented by judicial intervention in a variety of cases which are generally explained under the following major headings:

 Fraud on the Minority

Professor Gower, writing on fraud on the minority, has stated:

                   ".......the exact meaning of the expression 'fraud on the minority' is not easy to determine.  But at least it is clear that both 'fraud' and "minority" are used somewhat loosely.  There need not be any actual deceit; if there were, those on whom it was practiced would have a common law remedy against those who had wilfully deceived them.  "Fraud" here connotes an abuse of power analogous to its meaning in a court of equity to describe a misuse of a fiduciary position.  Nor is it necessary that those who are injured should be a minority; indeed, the injured party will normally be the company itself, though sometimes those who have really suffered will be a class or section of members, not necessarily a numerical minority, who are outvoted by the controllers.  It covers certain "acts of a fraudulent character"- in the wider sense just described - of which "familiar examples are when the majority are endeavoring directly or indirectly to appropriate to themselves money, property or advantages that belong to the company or in which the other shareholders are entitled to participate".


Related Discussions:- Case law - statutory provisions

Allotment of shares, ALLOTMENT OF SHARES: An allotment, legally, is th...

ALLOTMENT OF SHARES: An allotment, legally, is the company's acceptance of an offer to buy its shares. Thus we can say it is governed by the following rules of the common law

Explain the cotton arbitration, Explain the Cotton Arbitration Arbitrat...

Explain the Cotton Arbitration Arbitration is a more formal process than mediation and conciliation. Arbitration can take place between two states or individuals of two states

Mind like inventions, Intellectual property refers to creations of the mind...

Intellectual property refers to creations of the mind like inventions, artistic and literary works, designs, and more used for profit. There are two categories of intellectual prop

Business Law and Ethics, A Black Firefighter alleges that each time he is t...

A Black Firefighter alleges that each time he is transferred from one fire station to another, he must take his bed with him, on orders of the fire chief. The chief defends on the

Law Paper, I am an international Law student. am taking International Finan...

I am an international Law student. am taking International Financial Institutions I wrote a paper about the Europe Crisis I would like to find a lawyer or a tutor that can review a

Why international law is very different from domestic law, Why Internationa...

Why International law is very different from domestic law International law is very different from domestic law because in domestic disputes there are Courts to adjudicate upon

Explain economic and social council, Economic and Social Council The Ec...

Economic and Social Council The Economic and Social Council (ECOSOC) is a specialized organ of the United Nations and was established, inter alia, to monitor and regulate human

Pre-incorporation contracts, Pre-incorporation Contracts:             ...

Pre-incorporation Contracts:                             A pre-incorporated contract is an agreement which is entered into, usually by a promoter or promoters, on behalf of a

Explain the term res perit domino, QUESTION 1 Explain the following wor...

QUESTION 1 Explain the following words- 1. Promissory condition 2. Contingent condition 3. Condition precedent 4. Concurrent conditions 5. Conditions subsequent

Compulsory change - change of name , Compulsory Change: Section 20(2) ...

Compulsory Change: Section 20(2) of the Act provides that within six months of registration with a particular name the registrar may direct a change in name if in his opinion

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd