Corporate Law Cases and Concepts Quiz

<p>Menier v. Hooper’s Telegraph Works (D)</p> Signup and view all the answers

<p>Special majority (B)</p> Signup and view all the answers

<p>Loan provision without security (D)</p> Signup and view all the answers

<p>Menier v. Hooper’s Telegraph Works (C)</p> Signup and view all the answers

<p>No loans without security (C)</p> Signup and view all the answers

<p>The scheme was unworkable and falsely represented. (B)</p> Signup and view all the answers

<p>No indication of the school's recognition was present on the certificate. (D)</p> Signup and view all the answers

<p>Alteration must be made for personal gain. (A)</p> Signup and view all the answers

<p>It was not considered an instance of cheating. (A)</p> Signup and view all the answers

<p>An obligation that is possible to deny. (A)</p> Signup and view all the answers

<p>He had familial ties to the accused. (D)</p> Signup and view all the answers

<p>They grossly violated investment regulations. (B)</p> Signup and view all the answers

<p>The transfer must lack adequate consideration. (C)</p> Signup and view all the answers

<p>Non-declaration of dividends without justification (B), Decisions by the board that are not transparent (C)</p> Signup and view all the answers

<p>It amounts to oppression of minority shareholders (D)</p> Signup and view all the answers

<p>They must act reasonably and in good faith (D)</p> Signup and view all the answers

<p>It suggests a desire to mislead someone for personal advantage (D)</p> Signup and view all the answers

<p>They gain rights automatically upon the shareholder's death (D)</p> Signup and view all the answers

<p>They must have the will probated (A)</p> Signup and view all the answers

<p>It can affect the perceived oppressiveness of the action (A)</p> Signup and view all the answers

<p>Only members can complain in their capacity as shareholders (D)</p> Signup and view all the answers

<p>Understating his compensation by more than $80 million. (A)</p> Signup and view all the answers

<p>Employee trips to strip clubs. (B)</p> Signup and view all the answers

<p>Engaging in offensive social activities. (D)</p> Signup and view all the answers

<p>Criticism highlighting the impact of its weapons. (C)</p> Signup and view all the answers

<p>Once acquitted, a person cannot be retried for the same offence or related offences. (C)</p> Signup and view all the answers

<p>Poor judgment in executive conduct. (A)</p> Signup and view all the answers

<p>She was considered liable as a director during the proceedings. (C)</p> Signup and view all the answers

<p>Providing detailed reasoning for initial charge framing. (C)</p> Signup and view all the answers

<p>All of the above. (D)</p> Signup and view all the answers

<p>Justice should not be impaired by overly strict adherence to procedure. (A)</p> Signup and view all the answers

<p>Proactive ethical considerations. (C)</p> Signup and view all the answers

<p>Continuing liability for the company's compliance requirements. (A)</p> Signup and view all the answers

<p>The complexity of health and lifestyle choices. (B)</p> Signup and view all the answers

<p>Only essential decisions and prima facie cases are necessary. (D)</p> Signup and view all the answers

<p>Directors can be held liable for their roles irrespective of the managing director's status. (B)</p> Signup and view all the answers

<p>Legal processes can function correctly without elaborate documentation. (C)</p> Signup and view all the answers

<p>The evidence must be interpreted in a language the accused understands. (B)</p> Signup and view all the answers

<p>Offences can be clubbed if they are connected and part of the same transaction. (C)</p> Signup and view all the answers

<p>The court found that opening a special account was not necessary. (C)</p> Signup and view all the answers

<p>The complainant being a juristic person does not exempt them from court presence requirements. (A)</p> Signup and view all the answers

<p>The Magistrate has the power to acquit the accused due to the absence. (D)</p> Signup and view all the answers

<p>If the accused believes the process against him was unwarranted. (D)</p> Signup and view all the answers

<p>The documents must be relevant to proving the accused's guilt. (A)</p> Signup and view all the answers

<p>A legal entity that can participate in a court of law. (A)</p> Signup and view all the answers

A legal principle stating that a shareholder cannot sue directors for a wrong committed to a company, as only the company itself can pursue such action. The shareholder's remedy is to seek a shareholder resolution for the company to take action.

A shareholder can bring an action against directors if the directors are in control of the company and are committing fraud on the minority shareholders. This principle allows minority shareholders to assert their rights when they are negatively affected by a majority decision.

An individual shareholder can enforce their personal rights against a company, like the right to vote or be a director, even if it goes against the majority decision. This principle protects individual shareholder rights.

A company cannot exceed its powers as defined by its Articles of Association (AOA). If the company acts beyond its powers, the actions can be invalidated.

If a shareholder wants to use a company's funds or assets for their own benefit, they must prove it's not a conflict of interest. Such actions are scrutinized to ensure fairness and transparency.

A shareholder can challenge a company's decision if the resolution was passed with a simple majority, but the company's AOA required a special majority for that decision. This protects the minority shareholders from being overridden.

A company's shareholders can vote on resolutions regarding the company's operations and future direction. This democratic principle empowers shareholders to influence the company's course.

A company must act within its powers as described in its AOA and cannot enter into contracts beyond its scope. This principle ensures that companies operate within their authorized activities.

Occurs when a company's actions unfairly disadvantage a shareholder or group of shareholders.

A shareholder's death does not automatically transfer their shares to their heirs. The heirs must formally apply to the company for transmission of the shares.

The court can review the decision of directors regarding share transfers, ensuring fairness and due process for all parties.

An illegal act, while concerning, might not alone constitute oppression. The intent and impact of the action on shareholders can be crucial in determining if it's oppressive.

A significant increase in a company's share capital can be oppressive if done solely to gain controlling power over the company.

Directors have a responsibility to exercise their powers reasonably and in good faith. This includes their power to refuse share transfers.

A shareholder can file a complaint alleging oppressive conduct only in their capacity as a shareholder, not as a director or creditor.

The intent to deceive involves not just aiming to mislead, but also aiming to make someone act or not act based on the lie.

A person cannot be charged with cheating for simply making a false representation if they truly believed it to be true, even if the representation was ultimately false.

Modifying a document to gain something or achieve a specific goal can be considered forgery.

When a person takes someone's property without proper compensation with dishonest intentions, it can be considered cheating.

A person cannot be accused of cheating for making a false sale deed if they made it in good faith, without intending to deceive.

Debt involves an existing and definite obligation to pay, whether immediately or in the future.

A debt involves an obligation to pay a specific sum of money, which is either already known or can be calculated.

A portfolio manager using inside information about an investment company to benefit their cousin is a potential regulatory violation.

An association that accuses a company of unfair business practices, like manipulating gas prices, can lead to a regulatory investigation.

A company should avoid activities like taking employees to strip clubs on corporate credit cards as such activities could be perceived as offensive and discriminatory.

Companies need to be mindful of their social media presence and understand their audience's sentiment towards their products, policies, and overall brand.

When faced with a crisis, companies should focus on communicating transparently and effectively, outlining the essential elements of the situation and their action plan.

Nissan's former chairman, Carlos Ghosn, was arrested and charged with financial misconduct, highlighting the importance of financial transparency in a company.

Lockheed Martin, a major weapons manufacturer, should be aware of the public's perception of their products and the potential negative impact of showcasing weapons on social media.

Under Armour faced criticism for its tolerance of employees’ visits to strip clubs, highlighting the need for companies to maintain professional boundaries and conduct.

Companies should focus on addressing real issues instead of shifting blame or avoiding responsibility. Focusing on effective solutions and positive outcomes is crucial.

While there are some who believe exercise is more effective than diet, the reality is that both are essential for a healthy lifestyle.

A person cannot be tried again for the same offense if they were previously acquitted or convicted by a court of competent jurisdiction. This principle prevents double jeopardy.

Procedural law should be used to assist justice, not hinder it. The legal system should not be a burden but a tool for achieving fairness.

A wife can be included as an accused in legal proceedings even after her husband's death, particularly if she was a director of the company involved in the case.

Detailed written orders are not always necessary at every stage of a criminal justice process, such as issuing summons or remanding the accused.

At the stage of framing charges, the judge only needs to determine if there is a prima facie case, a reasonable basis for suspicion, without giving extensive reasons.

When multiple offenses happen during the same event with continuous action and shared purpose, they can be combined and treated as one case.

A company is considered a legal entity, not a physical person, and cannot be physically present in court.

If the complainant fails to appear in court, the magistrate can drop the case, even if the company is the complainant.

In court, the accused has the right to have evidence interpreted into a language they understand.

The court can dismiss a case if the company's failure to open a special account wouldn't automatically prove guilt, as it's not limited to one specific bank.

A shareholder can sue a company for unfair actions that negatively affect them, but only in their capacity as a shareholder.