Semester 2. Topic 1

Descripción

company law
adriana calles
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Resumen del Recurso

Pregunta 1

Pregunta
Do shares represent the holder's ownership of the company's assets?
Respuesta
  • True
  • False

Pregunta 2

Pregunta
We can identify 3 functions for shares:
Respuesta
  • Fraction of the legal capital of the company
  • Represent company's property
  • Measure investor's interest
  • Being a type of property
  • Enjoyment of rights and interest of directors

Pregunta 3

Pregunta
To ha allotted shares we need to do the following:
Respuesta
  • register the name of the investor in the company's register of members
  • contract between company and investors to sell shares
  • shareholder acquires the legal title to the share
  • the investor acquired the right to be included in the company's register

Pregunta 4

Pregunta
what is the nominal capital?
Respuesta
  • The actual monetary value of your share
  • The maximum amount of shares the company can rise without formalities
  • The value of the shares alloted by the company without premium

Pregunta 5

Pregunta
Could a company issue a share at a discount? (Ooregum Gold Mining)
Respuesta
  • Yes
  • No

Pregunta 6

Pregunta
Exception where rescission CAN'T be applied (Oakes): mark 3
Respuesta
  • Parties cannot be restored to their original position
  • The contract has been affirmed
  • Directors' interests are at stake and will be affected
  • The allottee waited too long after discovering the misrepresentation
  • An order of a re-selling has been made

Pregunta 7

Pregunta
Ordinary shares don't entitle you to vote. Only Preference shares.
Respuesta
  • True
  • False

Pregunta 8

Pregunta
Members who hold at least X % of the shares of the class being varied have the right to object within 21 days
Respuesta
  • 5%
  • 10%
  • 15%
  • 20%

Pregunta 9

Pregunta
If you are a member but you aren't attached to any class right. The rights and benefits conferred to the individual as a member but not attached to any particular class of shares qualify as class rights.
Respuesta
  • True
  • False

Pregunta 10

Pregunta
(Greenhalgh v Arderne Cinemas) subdividing a share, meaning that the owners will have more voting power is:
Respuesta
  • An alteration of class right
  • An alteration of enjoyment of rights

Pregunta 11

Pregunta
If a genuine share certificate happens to be an erroneous statement, it's not enforceable (San Francisco)
Respuesta
  • True
  • False
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