...hold 20% each while the 20% is held by the rest. Based on the company constitution, a managing director has capacity to enter into a contract o behalf of the company up to a maximum of $100,000. Moreover, he/she can enter into contracts to the value of $900,000 upon getting consent for the board of directors. In this case, Bechdo Pty Ltd operates without a managing director since none was elected. The major issue is that Betty being the majority shareholder went ahead and entered into contract with BB Ltd, Jillo Pty Ltd, and Con Development Ltd. All the contracts made were over USD 100, 000, and the last two were over USD 900,000. Upon realization of the contracts, a meeting was convened and a resolution was made that stated that Betty acted improperly and failed to discuss the contracts with board members. As a result, the three contracts have been labeled as void and ultra vires and Bechdo Pty does not recognize them. The paper seeks to advise, Bechdo Pty Ltd, BB Ltd, Jillo Pty Ltd, and Con Development Ltd in regard to their liabilities and legal rights to the contract. Moreover, advice is given on legal grounds that may be taken by Bechdo Pty Ltd against Betty, Charlie, and Doris. Rules First, a corporation or a limited company is an artificial entity which is independent of its member founders, and is capable of engaging in a contract, suing, or get sued as an entity. Therefore, as an independent entity a limited company can sue its shareholders if they engage in malicious...
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...Beginning and Evolution of film industry in sub-continent Introduction:- Film is a term that encompasses motion pictures as individual projects, as well as the field in general. The origin of the name comes from the fact that photographic film has historically been the primary medium for recording and displaying motion pictures. Many other terms exist for an individual motion picture, including picture, picture show, and most commonly, movie. Additional terms for the field in general include the big screen, the silver screen, the cinema and the movies. Films are produced by recording actual people and objects with cameras, or by creating them using animation techniques and/or special effects. They comprise a series of individual frames, but when these images are shown rapidly in succession, the illusion of motion is given to the viewer. Flickering between frames is not seen due to an effect known as persistence of vision, whereby the eye retains a visual image for a fraction of a second after the source has been removed. Film-A true art-form:- Film is considered by many to be an important art form; films entertain, educate, enlighten and inspire audiences. The visual elements of cinema need no translation, giving the motion picture a universal power of communication. Any film can become a worldwide attraction, especially with the addition of dubbing or subtitles that translate the dialogue. Films are also artifacts created by specific cultures, which reflect...
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