Topic 4 cases

Question	Answer
Re Lands allotment	directors aren't regarded as trustees but they have an analogus position casue of the fiduciary dutries they owe to the company when working with funds
ASCFS	shareholders cannot instruct directors by ordinary resolution
Harbottle	shareholders cannot initiate legal proceedings, it's a management aspect
Runciman	directors can act informally if they are unanimous
Queens Moat houses	consti limited directors power to borrow. Special resolution but a class approval was also needed (not done). Directors faced personal liability until it was authorized
Faith	consti may give enhanced voting rights in resolutions to remove directors, not accepted in public companies
Shirlaw	employed as a managing director, removed as managing but said that not as director. Baystandar test applied
Grant	if it's a limit on director's power to exercise company's powers, shareholders have residual power to authorise or ratify under ordinary resolution
Fuke	if the limit restricts what the company as entity may do, shareholders have to rely in their power to amend consti. Special resolution
Oxborough	company set up to manage commercial aspects, can't be implied another circumstance that is different
Pender	shareholders can enforce membership rights
Eley	non-members cannot directly enforce a provision that purports to be for their benefit. They'll need to establish a distinct contract

Resource summary

	Created by adriana calles almost 5 years ago