The articles of X Company Ltd.provide that every member is entitled to one vote for each of the first ten shares and thereafter to one vote for each additional ten shares.Jane owns one hundred shares.She transfers ten of her shares to her nine nominees to increase her voting power in general meetings.Joseph,who is the chairman at the general meeting;refuses to accept the votes of Jane’s nominees. Advise Jane on the validity of the Chairman’s action and her right as a member.

1.(a) (i) State the rules in Foss-vs-Harbottle,making clear the purpose and the rationale underlying the rule.(6 marks) (ii) State briefly the principal exception to the rule.(4 marks) (b) Shadrack Ruto owns 500 shares of Sh.20 each in Alpha and Omega Ltd.and 500 shares of Shares of Sh.10 each in the Beginning and End Ltd.Both companies […]

Highlight the barriers to occupational mobility of labour.

1.(a) The principle of corporate legal personality is an important and fundamental aspect of company law. Discuss this statement citing relevant decided cases.(6 marks) (b) Rippofff Company Ltd,a private limited company,has been under inquiry on alleged fraudulent financial transactions The officers of the company under suspicion have denied any association with the company. At the […]

Define the term “unemployment”

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Explain five reasons why unemployment is a major policy issue in developing countries.

1.(a) (i) State the rules in Foss-vs-Harbottle,making clear the purpose and the rationale underlying the rule.(6 marks) (ii) State briefly the principal exception to the rule.(4 marks) (b) Shadrack Ruto owns 500 shares of Sh.20 each in Alpha and Omega Ltd.and 500 shares of Shares of Sh.10 each in the Beginning and End Ltd.Both companies […]

Define “inflation”

1.(a) (i) State the rules in Foss-vs-Harbottle,making clear the purpose and the rationale underlying the rule.(6 marks) (ii) State briefly the principal exception to the rule.(4 marks) (b) Shadrack Ruto owns 500 shares of Sh.20 each in Alpha and Omega Ltd.and 500 shares of Shares of Sh.10 each in the Beginning and End Ltd.Both companies […]