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I mentioned director removal in Q10 too, by special notice and ordinary resolution, but as the meeting had already been called I didn’t know whether there enough time to propose this resolution.
And Q9 I totally messed up. I think it was a trick question :S. I wrote about LLPs and LPs because it mentioned one of the Partners liability was limited to his £100,000…but now I think about it, maybe the Q. was about unlimited Partnerships afterall.
I thought it was quite easy overall, with a couple tricky concepts;
Not 100% sure what Q10 was getting at. Directors duties and liabilities I think? Was Harry’s deal in the best ineterests of the company? I think he accepted that £50,000 in breach of his duty.
And Q9. The Partner who took out £10,000 for non business purposes. I got in a real mess with that, not sure if it was ultra vires of within implied authority. Certainly wasn’t express (not in the PA) or apparent authority (not held out).