Exam (elaborations)
Exam (elaborations) Forms of Business Enterprise
- Course
- Institution
Forms of Business Enterprise (past paper).
[Show more]
Seller
Follow
khethiwemadidimalo
Content preview
Khethiwe Madidimalo6875778
Forms of Business Enterprise (FBE2604)
QUESTION 1
1.1 Globalization
1.2 Incorporation
1.3 Secretary
1.4 State-owned company
1.5 Estoppel
1.6 Debenture
1.7 Quorum
1.8 Ex officio director
1.9 Amended funding statement
1.10 Accounting officer
QUESTION 2
2.1 In terms of section 21 of the Companies Act the formal requirements to have a
binding contract upon a company are as follows:
The contract was concluded in writing
The board of the company does not reject the contract within three months.
The board does nothing to either reject it or ratify the contract the contract
will become binding.
2.2 section 76(4) of the Companies Act introduced the business judgment rule
which means a director has acted in the best interest of a company he/she was
not biased had taken time to think about the question and had no personal
interest.
The director took steps to be informed about the matter
The director made or supported a decision believing that it was in the best
interest of the company.
The director had no financial or personal gain on the decision, he/she did
not even know anyone who would gain financial, or disclose his/her
interests.
Directors can use the business judgment rule as a defence mechanism where a
claim is brought in terms of section 77 of the Companies Act.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller khethiwemadidimalo. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.85. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now