Outline the exceptional cases when a member may be held liable in excess of the limited liability which he undertook when he became a member of the company.

1:(a) The law governing the director’s duty of care and skill takes account of the fact that the director may be a part-time counselor rather than a full-time professional manager(8 marks) (b) Mwerevu is one of the directors of Kamaliza Ltd.whose articles of association are in the form of Table A.He knows that his fellow […]

The law governing the director’s duty of care and skill takes account of the fact that the director may be a part-time counselor rather than a full-time professional manager

1:(a) The law governing the director’s duty of care and skill takes account of the fact that the director may be a part-time counselor rather than a full-time professional manager(8 marks) (b) Mwerevu is one of the directors of Kamaliza Ltd.whose articles of association are in the form of Table A.He knows that his fellow […]

.Discuss the powers of the liquidator: (a) With the sanction of the court

1:(a) The law governing the director’s duty of care and skill takes account of the fact that the director may be a part-time counselor rather than a full-time professional manager(8 marks) (b) Mwerevu is one of the directors of Kamaliza Ltd.whose articles of association are in the form of Table A.He knows that his fellow […]

A new company,Pendo Limited,will be formed and eighty per cent of its ordinary shares will be held by Pesa Limited.Berita and Charles to hold ten per cent each.Pendo Limited will borrow money to buy Anna’s shares and debentures

1:(a) The law governing the director’s duty of care and skill takes account of the fact that the director may be a part-time counselor rather than a full-time professional manager(8 marks) (b) Mwerevu is one of the directors of Kamaliza Ltd.whose articles of association are in the form of Table A.He knows that his fellow […]

Pesa Limited will raise funds and lend them to Charles so that he may purchase Anna’s debentures.Charles will also arrange for a private loan guaranteed by Pesa Limited so that he may purchase Anna’s shares

1:(a) The law governing the director’s duty of care and skill takes account of the fact that the director may be a part-time counselor rather than a full-time professional manager(8 marks) (b) Mwerevu is one of the directors of Kamaliza Ltd.whose articles of association are in the form of Table A.He knows that his fellow […]