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Liabilities Of Directors- Company Management & Remuneration

   Posted On :  14.05.2018 09:59 pm

1.Liability to third parties 2.Liability to the company

Liabilities Of Directors
 

1.Liability to third parties: 


(1) Material misrepresentations. (2) Independently of the Act: Directors, as agents of a company, are not personally liable on contracts entered into an agents on behalf of the company. (3) Liability for acts ultra vires the company: Where a director enters into a contract, which is ultra vires the company, the director is personally liable for breach of implied warranty of authority. (4)Liability for frauds and torts.
 

2.Liability to the company

 
The liability of directors towards the company may arise from
 
             Ultra vires acts,
 
             Negligence,
 
             Breach of trust, and
 
             Misfeasance.

 

Tags : Business Environment and Law-Company Management & Remuneration
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