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Liabilities Of Directors- Company Management & Remuneration
Business Environment and Law-Company Management & Remuneration
Liabilities Of Directors- Company Management & Remuneration
Posted On :
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.
The liability of directors towards the company may arise from
Ultra vires acts,
Negligence,
Breach of trust, and
Misfeasance.
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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