Company Law

Case Study # 100631

Business > Companies
Law > Company
Law > Contract

Company Law

An analysis of company and contractual law within a case study of ITbitz Ltd.

3,518 words () | 22 sources | APA | 2007 India

Paper Summary:

This paper presents a case study that focuses on company law. The paper begins by analyzing, in general, a contract and its terms and conditions. It then presents some examples of past cases to explain the point of contracts. The paper then presents a case study and discusses the responsibilities and rights of the directors of ITbitz Ltd. It particularly focuses on the contracts signed by the directors and the implications of these contracts.

Table of Contents:
A Contract
Misuse of Power by Eros
Removing Eros from the Post of Director
Setting up of a New Company by Cupid and How the Board of ITbitz can Stop Him
Appendix

From the Paper:

"Breach of a fiduciary duty gives rise to a right in the company to pursue equitable remedies against the director. In addition to fiduciary duties, which are owed to the company by directors, directors are also subject to statutory duties. The statutory duties mirror the fiduciary duties closely. Sec 181 is one of the civil penalty provisions: duty of a company officer to act in good faith in the best interests of the company and for a proper purpose. The civil penalty provisions relevant to directors' duties are the corporation/managed investment scheme civil penalty provisions. Where it is proved there has been a contravention of one of the corporation/managed investment scheme civil penalty provisions, the company damaged by the contravention can seek a compensation order or ASIC can seek a pecuniary penalty order, a disqualification order or a compensation order. Thus failure to disclose interests will give the right to rescind the contract therefore Diana, Aphrodite and Bacchus can remove Eros from the director's post."