The latest accounts of Tsar Ltd showed that the company had profits available for distribution of £10,000.
Mick (the sole director of Tsar Ltd) negligently misinterpreted the accounts and authorised a dividend payment of £20,000. Joan, Mick's wife and shareholder of Tsar Ltd, saw the accounts and knew the dividend was unlawful. The other shareholders did not see the accounts.
Which of the following parties are liable for the unlawful dividend?
Directors who misinterpret the accounts will be liable for an unlawful dividend. Relief may be granted if the mistake was honest and reasonable, but this is not the case here because the misinterpretation was due to negligence. Only shareholders who know the dividend was unlawful are liable.
多做几道
Which of the following is a remedy available under the civil law?
All criminal law cases begin in which of the following courts?
The Queen's Bench, Family and Chancery are all division of which court?
Which of the following statements concerning cases brought before a Magistrate's Courts is correct?
Which of the following offences would only be heard at a Magistrate's Court?
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