Gain the Competitive Edge with LML4806 Exam Pack: Latest 2024. Update, Includes Past Exam Papers Until 2023. This comprehensive pack equips you with everything you need to excel in your upcoming assignments and exams. With frequently repeated questions in different formats, these exam memos will he...
Example:
(Answers are detailed and I have given extra explanations to ensure you are
able to also understand the question and meanings of the terminology).
QUESTION 1
1.1 Discuss the relevant section of the Companies Act 71 of 2008 that appears
to be a codification of the common-law Turquand rule and highlight the
similarities and the differences between the provisions of that particular
section and the common-law Turquand rule.
The common law Turquand rule is a legal principle that provides protection to third
parties who enter into contracts with a company in good faith. It states that if a
person is authorized to act on behalf of the company, but that authority is subject to
an internal formality, such as approval by the board, an outsider dealing with the
company is entitled to assume that this requirement has been fulfilled, even if it has
not. This means that the company will be…………………………………………………
NEXT PAGE THE TABLE OF CONTENTS: Created for you to be able to access
questions and answers easier!
, Table of Contents
OCTOBER/NOVEMBER 2022 ........................................................................................... 12
1.1 Discuss the relevant section of the Companies Act 71 of 2008 that appears to be a
codification of the common-law Turquand rule and highlight the similarities and the
differences between the provisions of that particular section and the common-law
Turquand rule. ................................................................................................................. 12
1.2.1 Whether David has breached any specific duty that he owes to Free State Airlines
SOC Ltd by not informing the board of directors about his shareholding in Aerial Lease
(Pty) Ltd. ......................................................................................................................... 14
1.2.2 Whether the lease agreement in this scenario is valid and binding on Free State
Airlines SOC Ltd. ............................................................................................................ 15
Write a legal opinion in which you comprehensively advise the directors of Value for
Money Ltd on the correct legal position regarding the matter that has been omitted and
the legal consequences for the directors arising from the above factual scenario. ......... 16
3.1 Discuss the appointment and composition of the audit committee. ........................... 18
3.2.1 Identify the type of Transaction that is contemplated in the scenario above. ......... 20
3.2.2 Advise the Commercial Bank of South Africa Ltd on the legal steps it may take to
prevent the implementation of the Transaction. .............................................................. 20
With reference to the provisions of the Financial Markets Act 19 of 2012 and the facts
provided, advise Andrew on his position in relation to inside information, the relevant
insider trading offence(s) and liability for the relevant insider trading offence(s). ............ 23
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller studywiz. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. You're not tied to anything after your purchase.
