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Page 138

CHAPTER 11
DIRECTORS

When the articles empower the directors to appoint a managing director, the company in general meeting cannot itself make such an appointment or interfere with an appointment already made.(69)
Table A provides:
" 108. A managing director shall receive such remuneration (whether by way of salary, commission or participation in profits or partly in one way and partly in another) as the directors may determine.
" 109. The directors may entrust to and confer upon a managing director any of the powers exerciseable by them upon such terms and conditions and with such restrictions as they may think fit, and either collaterally with or to the exclusion of their own powers and may from time to time revoke, withdraw, alter or vary all or any of such powers."

A managing director is entitled to be paid for his services.

Craven-Ellis v. Canons, Ltd., [1936] 2 K. B. 403. C. was appointed managing director of the company at a salary, by a contract under the company's seal. The seal was affixed to the contract by a resolution of the board of directors, but none of the directors had acquired their qualification shares. C. himself acted as managing director, but also failed to acquire his qualification shares. Held, C.'s contract was void and C. was not properly appointed managing director; but he was entitled to payment on a quantum meruit basis arising from the performance of services and their acceptance by the company.

A managing director is not a" servant " of the company so as to be entitled to preferential payment of his salary on a winding up.(70)

69 Thomas Logan v. Davis (1911), 104 L. T. 914; 105 L. T. 419.
70 Re Newspaper Proprietary Syndicate, [1900] 2 Ch. 349.

travel books:
where is HTML where is HEAD where is TITLE When what is articles empower what is directors to appoint a managing director, what is company in general meeting cannot itself make such an appointment or interfere with an appointment already made.(69) Table A provides: " 108. A managing director shall receive such remuneration (whether by way of salary, commission or participation in profits or partly in one way and partly in another) as what is directors may determine. " 109. what is directors may entrust to and confer upon a managing director any of what is powers exerciseable by them upon such terms and conditions and with such restrictions as they may think fit, and either collaterally with or to what is exclusion of their own powers and may from time to time revoke, withdraw, alter or vary all or any of such powers." A managing director is entitled to be paid for his services. Craven-Ellis v. Canons, Ltd., [1936] 2 K. B. 403. C. was appointed managing director of what is company at a salary, by a contract under what is company's seal. what is seal was affixed to what is contract by a resolution of what is board of directors, but none of what is directors had acquired their qualification shares. C. himself acted as managing director, but also failed to acquire his qualification shares. Held, C.'s contract was void and C. was not properly appointed managing director; but he was entitled to payment on a quantum meruit basis arising from what is performance of services and their acceptance by what is company. A managing director is not a" servant " of what is company so as to be entitled to preferential payment of his salary on a winding up.(70) 69 Thomas Logan v. Davis (1911), 104 L. T. 914; 105 L. T. 419. 70 Re Newspaper Proprietary Syndicate, [1900] 2 Ch. 349. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 138 where is strong CHAPTER 11 DIRECTORS where is p align="justify" When what is articles empower what is directors to appoint a managing director, what is company in general meeting cannot itself make such an appointment or interfere with an appointment already made.(69) Table A provides: " 108. A managing director shall receive such remuneration (whether by way of salary, commission or participation in profits or partly in one way and partly in another) as what is directors may determine. " 109. what is directors may entrust to and confer upon a managing director any of what is powers exerciseable by them upon such terms and conditions and with such restrictions as they may think fit, and either collaterally with or to what is exclusion of their own powers and may from time to time revoke, withdraw, alter or vary all or any of such powers." A managing director is entitled to be paid for his services. Craven-Ellis v. Canons, Ltd., [1936] 2 K. B. 403. C. was appointed managing director of what is company at a salary, by a contract under what is company's seal. what is seal was affixed to what is contract by a resolution of what is board of directors, but none of what is directors had acquired their qualification shares. C. himself acted as managing director, but also failed to acquire his qualification shares. Held, C.'s contract was void and C. was not properly appointed managing director; but he was entitled to payment on a quantum meruit basis arising from what is performance of services and their acceptance by what is company. A managing director is not a" servant " of what is company so as to be entitled to preferential payment of his salary on a winding up.(70) 69 Thomas Logan v. Davis (1911), 104 L. T. 914; 105 L. T. 419. 70 Re Newspaper Proprietary Syndicate, [1900] 2 Ch. 349. where is Server.Execute("_SiteMap.asp") %

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