LLB Company Law England and Wales Essay Example | Topics and Well Written Essays - 2500 words

LLB Company Law England and Wales - Essay Example According to the discussion the company’s articles may require such authorisation from the shareholders and in such cases, even if the board authorises such transaction, it is not valid unless members approve the same. In case of public companies, only if the constitution specifically permits this, then only the board will have authority to authorise such transactions in which a director is interested. It is to be noted that s 175 has to be interpreted in conjunction with the s 182 CA 2006. It is the latter section that deals with the scenario where a director has an interest in a present business arrangement or transaction. For instance, if A Ltd wants to enter into business dealing with B Ltd and X is a director in both the companies; This is really a conflict of interest scenario as X is the director in both the companies. If X has made an disclosure of his interest to the board of the both companies and has obtained approval from the member of the boards, then, it is said that he has adhered with the section 175. From this paper it is clear that shareholders are authorised to take derivative action against the directors of the company for the loss sustained to the company due to the conflict of interest by a director of the company. Part II of CA 2006-under s 260 - now provides an opportunity for shareholders to initiate derivative action against the company for any proposed act or any actual omission involving default, negligence, breach of trust or breach of duty. Under this, as exclusion to the rule laid down in Foss v Harbottle, a statutory derivative claim can be initiated by a shareholder against the company directors, and this section does not complement the rule laid down in Foss v Harbottle but simply offers a legal procedure for a derivative action. In this case, Brian can make a derivative action against the directors to reimburse the loss sustained by the company. Further , board has kept silent even after finding the lapse and Brain has every right to sue the directors of the com pany, including Marcus for their act of negligence . Issue II â€Å"Duty to promote the Success of the Company† Duties owed by a director of a company to the company are enumerated in S 171 to 177 of CA 2006.  

Personal Philosophy of Student sucess Essay Example | Topics and Well Written Essays - 750 words

Personal Philosophy of Student sucess - Essay Example order to ensure that I earn more than a sheet of paper with a degree printed on it upon college graduation, I have set up some important guidelines so that my education, career, and life are set on the right track and a solid foundation. If a student sets off to college expecting professors to set his or her life’s course − whether we are talking values, career direction, or other goals − that student is playing a game of Russian roulette. Fortunately, I have been counseled at an early age to be accountable for my actions, and this is consistent with scholarly guidance being offered to college students today, which emphasizes that accepting personal responsibility for one’s actions is critical to achieving college success, (Downing 1). From this core value stem the ability to self-motivate, master self-management of one’s time and obligations, and establish interdependence – where one learns to give and receive essential information from others. Also, the power of choice to make wise decisions must be utilized (Downing 3), as one must use his or her cognitive skills to collect, organize, rehearse, and then evaluate information (Downing 16) before acting out. One barometer that I personally employ to gauge my personal choices is the Bible, which teaches me to â€Å"Trust in the Lord with all your heart and lean not on your own understanding; in all your ways acknowledge him, and he will make your path straight. Do not be wise in your own eyes; fear the Lord and shun evil,† (The NIV Study Bible, Prov. 3.5-7). I can always fall back on wise teachings such as this in order to stay grounded on a moral track and rely on the timeless discernment that has shaped this nation for centuries − and the world for millennia. When striving to set more specific and short-term goals, I find it beneficial to focus on positive ways to adapt well to academic demands and campus life. Impeccable attendance in class is always a top priority of mine − there is a direct