Equity and Trusts Law Problem Question Watch

dan_dk7
Badges: 0
Rep:
?
#1
Report Thread starter 2 years ago
#1
Hello! I'm an undergraduate studying LLB law and have an problem question for Equity and Trusts. I really don't understand what the question is asking me, here it is:

Cathy was one of four people on the board of directors of Marmot Media, a company that commissions television series and films. In 2015 Duncan, an independent director, presented a proposal to the Marmot Media board of directors for a six episode television series that aimed to use an entertaining method to teach children and teenagers how to cook nutritious and delicious food, using easily sourced ingredients that could be obtained within a strict budget.

Cathy and two other directors voted in favour of commissioning the series, but the rules governing Marmot Media’s board decisions on commissioning television programmes required unanimity, so the board turned down Duncan’s proposal.
Three months later, Cathy resigned from the board of Marmot Media, telling the other board members that she needed to reduce her commitments to look after her elderly mother. In fact, Cathy’s mother had died the year before. A month after resigning, Cathy and Duncan set up DC Ltd, a television production company.

With the help of a bank loan, they produced the cooking series and sold it to the BBC and to schools across the UK. The series has been a great success. Cathy and Duncan have made millions of pounds in profits.

Citing and explaining relevant case law, advise Edgar, a shareholder and board member of Marmot Media, whether an action against Cathy and DC Ltd to account for the profit made from the series will be successful.

Please help!!
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

University open days

  • Birkbeck, University of London
    Undergraduate Open Day - Startford Undergraduate
    Thu, 21 Mar '19
  • University of Wolverhampton
    Postgraduate Open Evening Postgraduate
    Thu, 21 Mar '19
  • Edge Hill University
    Undergraduate and Postgraduate - Campus Tour Undergraduate
    Fri, 22 Mar '19

Where do you need more help?

Which Uni should I go to? (61)
14.95%
How successful will I become if I take my planned subjects? (41)
10.05%
How happy will I be if I take this career? (78)
19.12%
How do I achieve my dream Uni placement? (59)
14.46%
What should I study to achieve my dream career? (44)
10.78%
How can I be the best version of myself? (125)
30.64%

Watched Threads

View All