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Outline the limitations to cardinal approach in measuring utility.

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 […]

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 inquiry it was suggested that the corporate veil be lifted and the realities of the company in question be looked into. Explain the instances when the veil of incorporation may be lifted.

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 […]

The ruling in the case of Ashbury Railway Carriage vs.Riche (1875) stated that that an act that has not been authorized by the objects clause of a company’s Memorandum of Association is ultra vires to the company and the members cannot ratify it.” Discuss

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 […]

It has been held that the Memorandum and Articles of Association of a company shall,when registered,bind the company and the members to the same extent as if the documents had been signed and sealed by each member and contained covenants on the part of each member to observe all the provisions of the memorandum and the articles. Explain the effect of this provision on the relationship between shareholders and their company and between shareholders themselves.

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 […]