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

Non-judicial and judicial adr neutrals, "The liability of third party neutr...

"The liability of third party neutrals has been a topic of concern ever since the formalisation of dispute resolution in Australia.  Although there are no known cases in Australia

Indicator based definition of phoenix activity, Q. Indicator based definiti...

Q. Indicator based definition of phoenix activity? Many stakeholders emphasised the importance of educating the community about the signs or indicators of phoenix activity. A d

Speaker notes per slide, In light of some latest accounts coming into the c...

In light of some latest accounts coming into the company and working to promote its latest services, IDSS has also make a few trademarks to ensure and protects its innovative techn

Equitable lien, Equitable Lien General examples are for the lien of an...

Equitable Lien General examples are for the lien of an unpaid seller about land who that has moved out of possession to unpaid purchase money and such the right of partners on

Sale of goods act, 15 cases under sale of goods act within the year 2000- 2...

15 cases under sale of goods act within the year 2000- 2016?

What are the duties of the holder, Question 1: What are the duties of t...

Question 1: What are the duties of the holder of a Tourist Enterprise Licence, as provided by the Tourism Authority Act? Question 2: What are the relevant consideration

Exceptions to the rule in foss v harbottle, Exceptions to the rule in Foss ...

Exceptions to the rule in Foss v Harbottle:  According to Professor Wedderburn, the so-called exceptions are essentially no exceptions at all.  They appear to be circumstances

Compliance conference , Can general jurisdiction be obtained? Explain why/w...

Can general jurisdiction be obtained? Explain why/why not.  The Company has paid for three (3) trips for Patty to attend Prop 65 conferences in CA.  You discover that she did no

Chairman - meetings and resolutions, PROXIES - meetings and resolutions: ...

PROXIES - meetings and resolutions: By S.136(1), any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint one more person (

Best arguments to support the objections - law, Dennis and his brother, Oti...

Dennis and his brother, Otis, are charged with murdering Johnson. Eyewitnesses had seen the two defendants fighting with the victim outside a bar after midnight. Shortly afterwards

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