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10 Cards in this Set
- Front
- Back
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Hogar v Shebron |
Partnership.. Duty to render accounts. H and S to develop land. Partnership ending by S buying H shares... S told H authorities defused permission to develop the land.. True when H said it.. But became untrue by the time of dissolution.. Held.. Agreement to dissolve to be set aside... S breach on duty to disclose true state of affairs to H |
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Bentley v Craven |
Duty to account of reports... Buying sugar at negligible rates and selling to company at wholesale prices.. Akin to Regal Hastings v Gulliver in Director's duties |
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Don Kong v Warren |
Accounting for profit.. General fiduciary continued after dissolution until wound up.. Gains gained by one's position in the partnership are liable for accountability. |
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Trimble v Goldberg |
Competing with partnership. If one, without consent of other partners, carries on a business of same nature as and competing with the partnership, he must account for H and pay over to firm all profits made by him in the business. |
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Mercantile Credit Co v Garrond |
Agreement prohibited selling of cars... P used to do it without consent of G... Usual norm... Court held he had ostensible authority |
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Freeman and Lockyer v Buckhurst Park Properties |
Legal relation between principle and agent created by consensual agreement. It's scope is ascertained by applying the ordinary principle of the construction of contracts, including any power implications from the express words used, the images of trade, or the course of business between parties. Ostensible authority.. 3 conditions Had actual authority to conduct business affairs Ostensible authority presented to contractor Contractor actually relied on that representation |
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Rolled Steel v British Steel |
Cannot use authority to enter into contracts out of its capacity or against the objectives of the company |
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Ruben v Great Fingall |
No representation by the company.. Not liable to comply with the contract. |
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Biggerstaff v Wharf |
In practice, most articles empower BOD to delegate powers to individual directors... And an MD is rested with an apparent authority to carry on company's business in the usual way and to do all acts necessary for that purpose |
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Houghton and Company v Northand |
Guarantee executed by single director invalid under AOA heigh required two signatures. However, elsewhere in AOA, BOD had capacity to delegate power to give guarantee to one of the members thus making it valid In such cases, the 3rd party is protected by either the applicant the Turquand's case of the rules of the agency law. |
