Search This Blog. This is illustrated by Wood v Odessa Waterworks Ltd (32) in which a member (Wood) successfully sued for an injunction restraining the company from paying dividends in the form that was not provided for by the articles. Course Hero is not sponsored or endorsed by any college or university. 636. This is illustrated by Wood v Odessa Waterworks Ltd 32 in which a member Wood, successfully sued for an injunction restraining the company from. Add to My Bookmarks Export citation. Ltd., 1965 V.R. 159, per Wright J. at p. 160. When distributing the profits of the company, it is important for the directors to respect the ‘maintenance of capital’ doctrine. 636 (payment of debentures in lieu of dividend); Breay v. Browne (1897) 41 S.J. Browne v. La Trinidad (1887) 37 Ch.D. No comments: Post a Comment. In Wood v. Odessa Waterworks Co, (1889) 42 Ch D 636 case, issues were whether the memorandum and articles could constitute a contract between not just the company and its shareholders but also among shareholders and whether a minority shareholder could prevent a company from acting in a particular way. 1. Which assets may be distributed? Posted by DENIS MARINGO at 2:35 AM. Eley v … ARTICLES OF ASSOCIATION Wood v. Odessa Waterworks Company [1880] 42 Ch. In Wood v. Odessa Waterworks Co., (1889) 42 Ch D, 636 case, issues were whether the memorandum and articles could constitute a contract between not just the company and its shareholders but also among shareholders and whether a minority shareholder could prevent a company from acting in a particular way. Course Hero, Inc. Wood v Odessa Waterworks Co (1889) 42 Ch D 636. Wood v odessa waterworks co case 47 1 17 articles of. Mar. Disclaimer: This work was produced by one of our expert legal writers, as a learning aid to help you with your studies. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! Wood v. Odessa Waterworks Co. (1889) 42 Ch.D. You can filter on reading intentions from the list, as well as view them within your profile. WOOD v. ODESSA WATERWORKS (1889) Articles. 9 Irvine v. Union Bank of Australia (1877) 2 App.Cas. Login. Wood v Odessa Waterworks (1889) 42 Ch D 636. Education Employees Foundation Degree College for Girls Kotla, Education Employees Foundation Degree College for Girls Kotla • ECON SA, Script International Business Law Winter Term 2019 (1).pdf, High School for Enterprise, business, and Technology, Doc 9683 - Human Factors Training Manual Ed 1 Amd 2 (Corr1) (En).pdf, anti-social-strategy-2010-2014-approved-cllr-nov-2010.doc, University of Education DG Khan • BUSI 101, High School for Enterprise, business, and Technology • DG VCBFF, Copyright © 2020. disputes between them and the company to arbitration. Wood v Odessa Waterworks Co (1889) 42 Ch D 636 Stirling J: "The articles of association constitute a contract not merely between the shareholders and the company, but between each individual shareholder and every other" (In Salmon v Axtens it was thought this should not be followed in most cases) 13 the form that was not provided for by the articles. Cases & Articles Tagged Under: Wood v Odessa Waterworks Co (1889) 42 Ch D 636 | Page 1 of 1.   Privacy This is illustrated by the following, company had committed a breach of the contract in the articles which. If paid, it must be in cash unless the articles provide otherwise (Wood v Odessa Waterworks Co (1889) 42 ChD 636). Get step-by-step explanations, verified by experts. Newer Post Older Post Home. In the absence of express authority, per or similar to article 34, the company must pay all dividends in cash (Wood v Odessa Waterworks Company (1889) 42 Ch D 636), or change the articles. Wood v Odessa Waterworks Co. constitution. 95 In some cases there may be an overlap which makes it difficult to apply this distinction; see a recent example: Wigram Settled Estates v. Members can restrain a company from acting ultra vires with them.   Terms. Dignam, Alan and John Lowry, Foundation and constitutional issues in company law: Section D- Company law constitutional issues II (University of London Press 2008) 25-26. Continue Reading. Subscribe to: Post Comments (Atom) Search This Blog. Your reading intentions are private to you and will not be shown to other users. the company’s lawyer for life because he was, in the court’s view, Mrs Beattie from suing in alleged breach of the articles which, The court explained that Mrs Beattie was suing qua director and not, was, therefore, not bound by the arbitration clause, which required. (c) The articles also constitute a statutory contract, which binds the, alia: “In my judgment, general articles dealing with the rights of, International Civil Aviation Organization. Ebrahimi v Westbourne Galleries Ltd [1973] AC 360. It makes it easy to scan through your lists and keep track of progress. 19781 RATIFICATION OF THE DIRECTORS’ ACTS 163 It is submitted that … Salmon v Quinn and Axtens Ltd (1909) A director who was also a member was able to rely on … 8 [1920] 1 Ch. School Education Employees Foundation Degree College for Girls Kotla; Course Title ECON SA; Type. 5 See Wood v. Odessa Waterworks Co. (1889) 42 Ch.D. Grant V. U.K. Swifchback Rys. This preview shows page 16 - 25 out of 29 pages. 366; cf. 94 Charlesworth, Company Law, 6th ed. 77. In this case, the articles of Odessa Waterworks allowed the directors to declare a dividend with the approval of the general meeting. Wood v Odessa Waterworks. Interest-in-possession trusts: A balancing act. 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