The Art of Benin Essay - 954 Words

Why is the ownership of Benin Art so controversial? The ownership of Benin Art could have been so controversial for a number of reasons. Most notably I would say, is due to the Anthropologists seeing it as a cultural insight into the history of Benin however when people were introduced to start looking at the artefacts from also a more artistic approach, this, for the anthropologists was taking the cultural effect away from it. Some people may have felt hostile to how these artefacts were obtained from Benin to start with. We are informed that they were forcibly removed from their origin by the Westerners and therefore, the natives, especially, felt that this was and is where they belonged and not in a European Gallery. Some see it†¦show more content†¦The main issue lies in the fact that these are key artefacts for Benin and hold a huge part of the culture and history, which for obvious reasons, make these Sculptures more than just an art piece for outsider people to look at. These all hold meaning to the people of Benin an d Africa, yet they have been taken away. Everybody sees art from a different perspective; it will signify something to one person that won’t necessarily be the same as the next person who observes it. However, the problem here is that to the Africans, these artefacts have more or less the same meaning and explanation to them all, symbolising the same things, and cultural events, changes, a description of their history almost. Which therefore really makes you feel where they belong is back in Africa, their true home with representing their true meaning. On the other hand, the debate lies in those who believe the artefacts can be represented in Western countries. Note they do not at any point say they are in the right place by being in the Western side but they do believe that their presence in national galleries throughout much of Europe is and will only be a positive thing for the Africans and the Europeans This view is highlighted by the situation of which we find ourselves in today, for example, very prejudice, biased and unfounded opinions cause much conflict between races, cultures religions and countries and this isShow MoreRelatedEssay on The Art of Benin1045 Words   |  5 PagesWestern attitudes to African people and culture have always affected how their art was appreciated and this has also coloured the response to the art from Benin. Over time concepts of ‘Race’, defined as a distinct group with a common linage, and ‘Primitive’ which pertains to the beginning or origin, , have been inextricably linked with the perception of Africa. The confusion of the two in the minds of people at the end of the 19th centaury, and some of the 20th, caused a sense of superiorityRead More Benin Art in Museums and Galleries Essay1408 Words   |  6 PagesThe display of Benin art in museum and galleries reflect the attitudes and perceptions of Europeans towards non-western artefacts, especially African. Thus as European attitudes change towards non-western art since the discovery of Benin art in 1897, Benin art has been revaluated and re-categorised. Initially there was a great deal of debate about Benin art and its display, as it did not equate with the perceptions then held about Africa. Until the British conquest of Benin in 1897, little wasRead MoreCultural Encounters : Cultural Encounter, Anthropology And Art1007 Words   |  5 Pages Culture encounters â€Å"Art simply consists of Different points of view† Cultural Encounters focuses on the study of cultural identities interpreting human social costumes, religious practices and symbolic objects of arts such as, statues, masks and bronze plaques as essential part of the human cultural identity. {1}Ethnography is a method of Anthropology which is â€Å"a branch of natural sciences concerned with the study of mankind through a close analysis of human society and through comparison betweenRead MoreHow The Ghana Is Influenced By African Art1493 Words   |  6 Pageshow the Benin is able to concept the uncivilised nature of African societies. We will also look at the relationship between the Benin Bronzes, as African art, rather than modern art in the west. We know that the Benin bronzes are known to be of ‘aesthetic’, ‘spiritual’ and ‘sentimental’ value due to its symbolic appraisal of civilisation. They are also one of the most sophistica ted pieces of art. When looking into the African heritage, we can note it has a vast impact on the modern art world - artistsRead MoreEssay about The Benin Bronzes1663 Words   |  7 PagesThis essay deals with the nature of a cross cultural encounter between the Benin people and Portuguese traders in the 15th and 16th centuries, which resulted in the depiction of Portuguese figures in Benin brass plaques. It will propose that this contact between people with different cultures was on the basis of mutual regard (Woods, K. 2008, p. 16), and although the Portuguese had qualms about idolatry in Benin it will show that assumptions by Europeans up to the 20th century of the primitiveRead MoreRead Carefully the Following Piece of Text. What Does It Tell Us About Cross Cultural Encounters?1128 Words   |  5 Pagesnew vice-consul for the Benin river section Captain Henry Gallwey visited Benin and signed a treaty which made Benin a British protectorate, but as far as the British were concerned the treaty pr oved disappointing and by 1896 many British traders and officials were calling for military intervention, although the foreign office seemed reluctant to do this. On January 2nd 1897 the acting consul-general of the protectorate James Phillips set off without permission for Benin accompanied by a large armedRead MoreVisual and Cultural Art1001 Words   |  4 PagesFor my visual and cultural arts essay I visited the James E Lewis museum at Morgan State University. For my essay I have selected key pieces of art that I believe express the African experience in terms of their social, ethnographical and theological beliefs. This paper will also attempt to draw a comparison to key themes features in the African Creation myths, which will further elucidate the meanings hidden in these various works of art. It is my belief that this paper will not only serve as aRead MoreEssay about Art of Portraiture831 Words   |  4 Pagesart of portraiture The three works that I chose that are art of portraiture are Head of a King, Mask of an Lyoba, and Mother Goddess. The first two portraits are West African Art from two different tribes, Ife, who created the Head of a King and Benin, whom created the Mask of an Lyoba. The Mother Goddess is an Aztec piece. These groups of people are from different cultures, time periods, and share different religious beliefs. The similarity of the groups is the symbolic meaning the Read MoreAfrican Art Collections at Museums: The Bronze Heads of Leaders and King1263 Words   |  5 Pagesunable to attend the museums in New York I was able to go to the Museum of Fine Arts in Boston and The Smithsonian Natural History Museum in Washington D.C. While I was at both museums I saw that both African art collections had a number of bronze heads of leaders and kings. I noticed that both museums had almost the identical bronze head of the king, so I decided to dedicate this paper on the bronze heads of the Benin kingdom, and the Edo peoples. The bronze head to the upper left is the commemorativeRead MoreAn Essential Part Of Ghana African Culture1301 Words   |  6 Pages Waist pendants were an essential part of the Benin African culture. Benin was located in modern day Nigeria, and they had a very advanced culture with various resources. The Benin Kingdom mainly existed between the years 1440-1897 before the invasion from British soldiers, and is the capitol of the former Edo Kingdom. The city of Benin still exists today. The head of the Benin kingdom was called an oba, which translates to King, and was highly revered.1 Many brass and ivory carvings of the oba

Causal Argument Essay - 1357 Words

Causal Argument: Will Lowering the Drinking Age Solve the Problem of Binge Drinking among College Students? Research has supported the observation that young people in America consume alcohol regularly; this prevalence of use increases rapidly during adolescence, as well as a few years afterward (Wagenaar and Wolfson 37). This has come to be a problem among college students. It has been shown through extensive quantitative and qualitative research that those under twenty-one years of age are able to obtain alcohol, which allows them to binge drink. Binge drinking holds many problems for college students: alcohol poisoning, DUIs, traffic accidents, and even fatalities. In 1984, the federal drinking age was raised to twenty-one. This†¦show more content†¦Louisiana has the lowest rate of arrests for liquor law violations with a rate of 12 arrests per 100,000 in the population; South Dakota has the highest rate with 561 per 100,000 (Wagenaar and Wolfson 39). Despite these numbers of arrests through appropriate law enforcement, underage individuals are still able to access alcohol in many areas. In a recent study, underage males successfully purchased packaged beer in 97 percent of attempts in Washington D.C., 80 percent in Westchester County, New York, and 44 percent in Albany/Schenectady Counties in New York. A similar study found that underage youth were refused alcohol sales in only one-third of 100 establishments tested in eight sights across the United States (Wagenaar and Wolfson 38). It is believe that this perceived leniency in the enforcement creates an environment that enables binge drinking among those that are underage. Those in favor of lowering the drinking age also claim that social norms play a major role in perception of alcohol, which is believe to end in the justification of binge drinking. Key social constraints such as community acceptance and perceived influence of the political power of the alcohol industry that work to divert attention from commercial sources of alcohol for those that are underage. Other social aspects of the cultural and policy environment in communities affect the issue of alcohol use in youth. Exposure to billboards, magazines, andShow MoreRelated Causal Argument: Why Do People Change The Way They Look? Essay1798 Words   |  8 PagesCausal Argument: Why Do People Change The Way They Look? Oscar Wilde once wrote: â€Å"It is only shallow people who judge by appearance. The true mystery of the world is the visible, not the invisible† (qtd in Davis 1). Obviously, humans have all been created differently. That is why we all do not look alike. But now, the idea of having the ideal shape and look is one of the issues everyone has to deal with. Some want to get thinner, while a few do not care about it. Others even change theRead MoreCritical Analysis of Health Canada Essay1064 Words   |  5 PagesInadvertently Discloses Facts Planned Parenthood Would Like to Suppress† an essay by Ted Byfield, a Western Canadian journalist and founder of an Alberta based magazine The Report. â€Å"Health Canada† appears to have logical strengths including a cause and effect argument supported by statistics and reference to authorities present on both sides of the case. One must look closer into the strengths and weakness’ of Byfield’s argument to see that although the statistics seem impressive, they in reality doRead MoreHumes Conflict between Causal Reasoning and Existence of External Objects898 Words   |  4 PagesHume Conflict between Causal Reasoning and Existence of External Objects In this essay I will be discussing a very important conflict that Hume reflects in the conclusion of Book I, A Treatise of Human Nature. The thesis of this essay is to analyze the conflict between causal reasoning and the continued existence of external objects. Now, to be more specific I should say that I am inclining on Humes side about the conflict being real for same thing cannot exist at one time and again at aRead Moreplug in drug Essay676 Words   |  3 Pagesaffect the developing childrens relationship with the real world?† In the essay â€Å"Television: The plug in Drug,† by author Marie Winn, the author examines television’s impact on children. The author uses rhetorical devices such as causal analysis to support her argument on television non-effectiveness on society and cause and effect to illustrate and persuade the unaware attitude of parents towards television. This is an essay on how television affects children’s and how families should in teract. Read More1 Introduction. Causation In The Law By Hart And Honorà ©1501 Words   |  7 Pages 1 Introduction Causation in the Law by Hart and Honorà © attempts to find a middle ground between causal minimalists and causal maximalists, arguing that legal decision-making utilises causal connections beyond merely informing policy decisions, and yet not so far as to make them necessary and sufficient conditions of responsibility. However, the authors are only able to reliably discuss the role that causation plays in legal decision-making having first described a â€Å"common-sense† conception of causationRead MoreFallacies Are Defined As Mistakes By Belief Based On An Unsound Argument807 Words   |  4 PagesAnalysis about Fallacy Fallacies are defined as mistakes in belief based on an unsound argument, and many different types of such mistakes can occur when a writer is writing; therefore, when readers read a book, they may encounter different types of fallacies. Even arguing with some people, they use some false logic causing fallacy that can be a frustrating experience. Nevertheless, after people know these are examples of fallacies, they can identify what they are doing and spot the lapse in logicRead MoreCause-and-Effect Relationship between TV Violence and Actual Crimes1755 Words   |  7 Pages What evidence do you find in these essays that establishes a cause- and effect relationship between TV violence and actual crimes? The subject of violence and sexuality on television has remained of great concern for both liberals and conservatives, and there are advocates on both sides of the issue in each ideological camp. While some liberals bridle at any attempts to curtail speech, others are concerned about the impact that violent television viewing has upon impressionable viewers likeRead MoreDavid Hume s Theory Of Free Will1559 Words   |  7 PagesAre you choosing to read this essay? Or are you just constrained by the laws of nature? David Hume describes The Problem of Free Will as ‘the most contentious question of metaphysics’. Initial exploration into this school of thought gave rise to several philosophical viewpoints supported by modern thinkers. Hard determinism bases its viewpoint on the strict theory of causality, rejecting the idea of free will. On the contrary, Libertarianism opposes this, supporting the concept of free will and denyingRead MoreDavid Hume : Free Will And Determini sm1261 Words   |  6 Pagesparticular have answered these questions very similarly. David Hume, a Scottish philosopher from the 18th century, argues in his essay â€Å"Of Liberty and Necessity† that free will and determinism are compatible ideas, and that they can both be accepted at the same time without being logically incorrect. Alike Hume, 20th century author Harry G. Frankfurt concludes in his essay â€Å"Alternate Possibilities and Moral Responsibility† that the two major concepts are compatible. These two authors are among theRead MoreThe Agent Causality Theory Of Free Will1540 Words   |  7 Pages1. The agent-causality theory of free will is the theory that agents can start new causal chains that are not pre-determined by the events of the immediate or distant past and the physical laws of nature. Chisholm argues that the agent causes free actions, and that actions are self-determined, making them agent-caused. The theory states that we can bundle together all of an individual’s emotions, aspirations, dispositions, personality traits and we can then consider that the person’s character. Then

Singapore Company Law Free Essays

SAMPLE ONLY MID-SEMESTER TEST COURSE:LAW2464 COMPANY LAW DATE:17/03/2012 TIME ALLOWED:1 hour 40 minutes (including 10mins reading time) QUESTION (Prospectus Topic) In July 2011, Ah Beng was at his accountant’s office to talk about taxation matters. Whilst there, his accountant gave him a prospectus issued by Ionic Ltd. , a company listed on the Singapore Stock Exchange, to take home to read and if interested, to follow the instructions about investing in new shares in the company which were to be quoted on the Exchange. We will write a custom essay sample on Singapore Company Law or any similar topic only for you Order Now After reading the prospectus, Ah Beng was convinced that he was going to make a lot of money investing in the company which had stated that it had discovered a huge gold deposit in Western Australia. The prospectus contained a report by a geologist which stated that the gold was near the surface and therefore, easily mined. The prospectus also contained estimations of the amount of profits which it could make based on the current high price of gold. (False and/or Misleading Statements) Criminal Lability Under S253(Jail and/or fine company is liable if it is an entity. Directions are liable. Statements are materially adverse from viewpoint of investors including Ah Beng. Who else is liable? The Accountant? No advice or false or misleaeding statement. Did he act intentionally or recklessly? No. No Lability. Could Geologist be liable? Yes, as his a conman. Actions were intentional. S254 Civil Lability Directors liable any defences under s255 SFA? Any defences under s255 SFA? Reasonable reliance on geologist, reports is reliance here reasonable. He is a conman. Not reasonable. Inquries Defence, May fail. Geologist liable to compensate no defence. Accountant assuming he made statements. Yes, if not. No. Ah beng will receive compensation for his loss. ALTERNATIVE Misrepresentaton. False Statement Made during negotiation that induces one into contract Geologist is dishonest and fraudulent misrepresentation. Recession of contract of sale of shares and damages for the tort of deceit. After applying for the shares, Ah Beng was issued 50,000 shares at the price of $1. 00 per share in September 2011. In January 2012, the local newspaper published an article about the arrest of a geologist in Western Australia who was claiming discovery of mines which turned out to be non-existent. A week later, news broke out that the arrested conman was the geologist whose report was contained in the Ionic Ltd’s prospectus and there was actually a very small deposit of gold very deep in the ground which would make any mining a loss-making venture. The price of the shares in Ionic Ltd immediately plunged and trading in the shares had to be halted. Ah Beng has now come to you for advise as he has been informed that Ioninc Ltd shares are now worthless and that the company will soon be wound-up. REQUIRED: Can Ah Beng take action against any one or more persons with regard to his loss? Explain. (8 marks) QUESTION TWO Dinosaur Rocks Pte Ltd (Dinosaur Rocks) is a family company whose two shareholders and directors are Fred and his wife, Betty. They live in a house in Pasir Panjang owned by the company. The company owns a business of supplying rocks and sand to construction companies. In August 2011, Fred borrowed $1 million from U-O-Me Bank. The loan was secured by a mortgage charge over the Pasir Panjang property owned by Dinosaur Rocks. The loan was to be used by Fred for personal expenses. According to the articles of association, the mortgage/charge document was to be executed by way of affixing the common seal in the presence of two directors as witnesses. Fred signed the document as witness but he also forged Betty’s signature. By early January 2012, Fred had defaulted on his last two loan repayments. It has since emerged that Fred had skipped the country with the $1 million in October 2011 and is now purportedly living the high life in the Maldives. U-O-Me Bank has started proceedings to enforce the mortgage/charge against the Pasir Panjang property owned by Dinosaur Rocks. Betty comes to you for advice. She is more distressed about losing the Pasir Panjang property than losing Fred and does not want to vacate the house which she will have to when the Bank sells the property. REQUIRED: Advise Betty as to whether the mortgage/charge is valid and enforceable against the company. (8 marks) QUESTION THREE (Separating of legal entity concept, Lifting of corporate veil and evasion of legal obligations, case GM v Horne, Jones V Lipman fraud. Re Darby. Solution is to lift the veil and consider Athena and Grecian as one. Each is liable for the acts of debts of the other. Athena is a hair-dresser. Two months ago, she agreed to sell all the hair-dressing machines and supplies in her salon in Bukit Timah to Hera as she was moving to a new business location in Orchard Road. The purchase price was to be paid three months later whereupon Athena would deliver all the goods to Hera. Athena was intending to buy new machines and supplies for her new salon but a month ago, her application to obtain a bank loan was not approved. Needing equipment and supplies at the Orchard Road location, Athena registered a company called Grecian Pte Ltd (Grecian) with herself as the sole director and member last week. She immediately moved all the machines and supplies from her Bukit Timah salon to the new Orchard Road location of Grecian. Athena then told Hera the deal was off as she no longer owned the machines and supplies. Hera wants the machines and supplies as agreed under the contract as the machines are identical to the ones in her own salon. REQUIRED: Advise Hera. (6 marks) QUESTION FOUR When incorporated in January 2010, the memorandum and articles of association of Coffee Addict Pte Ltd (Coffee Addict) contained the following clauses:- 1. The objects of the company is the import and supply coffee beans to retail outletsin Singapore; 2. 3. Gloria is to be employed as the sales manager of the company for a period of five years at an annual salary of $100,000. In January 2012, Coffee Addict entered into a joint-venture agreement with Jean Ltd to build a row of ten shops in Clementi Road. Both parties are to inject $2 million each into the project. Also in January 2012, the Board of Directors of Coffee Addict resolved to terminate Gloria’s appointment as the sales manager. REQUIRED: a) Is the contract with Jeans Ltd a valid contract since it is contravenes the objects clause. Explain. (4 marks) b) Can Gloria prevent her removal as sales manager? Would it make any difference if she is also a shareholder? Explain. (4 marks) Total: 4 + 4 = 8 marks QUESTION FIVE Potterfied Ltd ( Potterfied) has its own set of articles which entitles preference shareholders to an annual dividend of ten cents per share. The Board of Directors of Potterfield wanted the articles amended so that the dividends are to be reduced to four cents per share and last week, persuaded more than half of the members to pass a resolution at a members’ meeting to the effect. The members were also told that there was nothing they could do as long as the majority of all shareholders agreed to the change. Harriet is a preference-shareholder who voted against the amendment to the articles at the members’ meeting last week. REQUIRED: Advise Harriet. Assupmtion that this variation of class rights affects all preferences shareholders rights to receive dividentds of 10cent per share, S74(1) applies. If 5% or more of shareholders dissent then can apply to court to stay the resolution to change the article until and unless the court confirms it, the change is ineffective. ) (6 marks) QUESTION SIX REQUIRED: Discuss the validity of the following statement: ’ The Privy Council in the case of Lee v Leeâ€℠¢s Air Farming Ltd did not apply the principle set out in Salomon v Salomon Co Ltd. ’ (4 marks) *Separating entity was applied How to cite Singapore Company Law, Papers Singapore Company Law Free Essays SAMPLE ONLY MID-SEMESTER TEST COURSE:LAW2464 COMPANY LAW DATE:17/03/2012 TIME ALLOWED:1 hour 40 minutes (including 10mins reading time) QUESTION (Prospectus Topic) In July 2011, Ah Beng was at his accountant’s office to talk about taxation matters. Whilst there, his accountant gave him a prospectus issued by Ionic Ltd. , a company listed on the Singapore Stock Exchange, to take home to read and if interested, to follow the instructions about investing in new shares in the company which were to be quoted on the Exchange. We will write a custom essay sample on Singapore Company Law or any similar topic only for you Order Now After reading the prospectus, Ah Beng was convinced that he was going to make a lot of money investing in the company which had stated that it had discovered a huge gold deposit in Western Australia. The prospectus contained a report by a geologist which stated that the gold was near the surface and therefore, easily mined. The prospectus also contained estimations of the amount of profits which it could make based on the current high price of gold. (False and/or Misleading Statements) Criminal Lability Under S253(Jail and/or fine company is liable if it is an entity. Directions are liable. Statements are materially adverse from viewpoint of investors including Ah Beng. Who else is liable? The Accountant? No advice or false or misleaeding statement. Did he act intentionally or recklessly? No. No Lability. Could Geologist be liable? Yes, as his a conman. Actions were intentional. S254 Civil Lability Directors liable any defences under s255 SFA? Any defences under s255 SFA? Reasonable reliance on geologist, reports is reliance here reasonable. He is a conman. Not reasonable. Inquries Defence, May fail. Geologist liable to compensate no defence. Accountant assuming he made statements. Yes, if not. No. Ah beng will receive compensation for his loss. ALTERNATIVE Misrepresentaton. False Statement Made during negotiation that induces one into contract Geologist is dishonest and fraudulent misrepresentation. Recession of contract of sale of shares and damages for the tort of deceit. After applying for the shares, Ah Beng was issued 50,000 shares at the price of $1. 00 per share in September 2011. In January 2012, the local newspaper published an article about the arrest of a geologist in Western Australia who was claiming discovery of mines which turned out to be non-existent. A week later, news broke out that the arrested conman was the geologist whose report was contained in the Ionic Ltd’s prospectus and there was actually a very small deposit of gold very deep in the ground which would make any mining a loss-making venture. The price of the shares in Ionic Ltd immediately plunged and trading in the shares had to be halted. Ah Beng has now come to you for advise as he has been informed that Ioninc Ltd shares are now worthless and that the company will soon be wound-up. REQUIRED: Can Ah Beng take action against any one or more persons with regard to his loss? Explain. (8 marks) QUESTION TWO Dinosaur Rocks Pte Ltd (Dinosaur Rocks) is a family company whose two shareholders and directors are Fred and his wife, Betty. They live in a house in Pasir Panjang owned by the company. The company owns a business of supplying rocks and sand to construction companies. In August 2011, Fred borrowed $1 million from U-O-Me Bank. The loan was secured by a mortgage charge over the Pasir Panjang property owned by Dinosaur Rocks. The loan was to be used by Fred for personal expenses. According to the articles of association, the mortgage/charge document was to be executed by way of affixing the common seal in the presence of two directors as witnesses. Fred signed the document as witness but he also forged Betty’s signature. By early January 2012, Fred had defaulted on his last two loan repayments. It has since emerged that Fred had skipped the country with the $1 million in October 2011 and is now purportedly living the high life in the Maldives. U-O-Me Bank has started proceedings to enforce the mortgage/charge against the Pasir Panjang property owned by Dinosaur Rocks. Betty comes to you for advice. She is more distressed about losing the Pasir Panjang property than losing Fred and does not want to vacate the house which she will have to when the Bank sells the property. REQUIRED: Advise Betty as to whether the mortgage/charge is valid and enforceable against the company. (8 marks) QUESTION THREE (Separating of legal entity concept, Lifting of corporate veil and evasion of legal obligations, case GM v Horne, Jones V Lipman fraud. Re Darby. Solution is to lift the veil and consider Athena and Grecian as one. Each is liable for the acts of debts of the other. Athena is a hair-dresser. Two months ago, she agreed to sell all the hair-dressing machines and supplies in her salon in Bukit Timah to Hera as she was moving to a new business location in Orchard Road. The purchase price was to be paid three months later whereupon Athena would deliver all the goods to Hera. Athena was intending to buy new machines and supplies for her new salon but a month ago, her application to obtain a bank loan was not approved. Needing equipment and supplies at the Orchard Road location, Athena registered a company called Grecian Pte Ltd (Grecian) with herself as the sole director and member last week. She immediately moved all the machines and supplies from her Bukit Timah salon to the new Orchard Road location of Grecian. Athena then told Hera the deal was off as she no longer owned the machines and supplies. Hera wants the machines and supplies as agreed under the contract as the machines are identical to the ones in her own salon. REQUIRED: Advise Hera. (6 marks) QUESTION FOUR When incorporated in January 2010, the memorandum and articles of association of Coffee Addict Pte Ltd (Coffee Addict) contained the following clauses:- 1. The objects of the company is the import and supply coffee beans to retail outletsin Singapore; 2. 3. Gloria is to be employed as the sales manager of the company for a period of five years at an annual salary of $100,000. In January 2012, Coffee Addict entered into a joint-venture agreement with Jean Ltd to build a row of ten shops in Clementi Road. Both parties are to inject $2 million each into the project. Also in January 2012, the Board of Directors of Coffee Addict resolved to terminate Gloria’s appointment as the sales manager. REQUIRED: a) Is the contract with Jeans Ltd a valid contract since it is contravenes the objects clause. Explain. (4 marks) b) Can Gloria prevent her removal as sales manager? Would it make any difference if she is also a shareholder? Explain. (4 marks) Total: 4 + 4 = 8 marks QUESTION FIVE Potterfied Ltd ( Potterfied) has its own set of articles which entitles preference shareholders to an annual dividend of ten cents per share. The Board of Directors of Potterfield wanted the articles amended so that the dividends are to be reduced to four cents per share and last week, persuaded more than half of the members to pass a resolution at a members’ meeting to the effect. The members were also told that there was nothing they could do as long as the majority of all shareholders agreed to the change. Harriet is a preference-shareholder who voted against the amendment to the articles at the members’ meeting last week. REQUIRED: Advise Harriet. Assupmtion that this variation of class rights affects all preferences shareholders rights to receive dividentds of 10cent per share, S74(1) applies. If 5% or more of shareholders dissent then can apply to court to stay the resolution to change the article until and unless the court confirms it, the change is ineffective. ) (6 marks) QUESTION SIX REQUIRED: Discuss the validity of the following statement: ’ The Privy Council in the case of Lee v Leeâ€℠¢s Air Farming Ltd did not apply the principle set out in Salomon v Salomon Co Ltd. ’ (4 marks) *Separating entity was applied How to cite Singapore Company Law, Essay examples

Commercial and Corporation Law Proposal Data Report

Questions: 1. Provide a summary, in your own words, of Corporations Act s708 in relation to disclosure documents. Why in your opinion would a disclosure document not be required in the circumstances outlined under s708. Response limited to 40 lines. 2. Provide details of what the general and specific content requirements are for a prospectus. Also provide details of what defences preparers of prospectuses may be able to utilise in relation to defective content. 3. Provide details of what insider trading is. Why is it prohibited? What is inside information? What are the exemptions? 4. Provide a summary (in your own words) of the takeover process, include details of parties, documents and timeframes. Answers: 1. Under section 708 of the Corporations Act 2001 certain exceptions have been granted to the corporations in relation to the utilization of a disclosure document at the time of issuing or selling securities in relation to some kinds of investors. Disclosure Document in the section could be defined as an registered disclosure document of ASIC like prospectus, product disclosure report or proposal data report. But after reading section 708 it could be concluded that: Private proposals of securities to those investors known to the corporation do not require revelation if some conditions were met; A proposal of securities to refined investors does not require revelation if some conditions were met; A proposal to specialized investors does not require revelation if some conditions were met; and Henceforth, with the residual prearranged excepted proposals of securities to certain kinds of investors if some conditions were met. However, it has been observed that this section does not allow a corporation to liberally promote its proposal to issue or sell securities. The only proposals that may be explicitly publicized (subject to some conditions approved by the Corporations Act) were Disclosure Documents wedged with ASIC and even also, publicity and promotion must deal with the pertinent sections of the Act. So, after going through this section it has been affirmed that an exceptional proposal does not need disclosure. But according to my viewpoint a disclosure document not be essential in the circumstances outlined under section 708 for two basic reasons such as: Where the investors were not observed to be in requirement of security; Where a special consideration was granted to corporations who wishes to raise small amounts of funds. 2. As per section 109 of the Act, Prospectus has been defined as a standard disclosure deed. The specific necessities in regard to the content of prospectuses were outlined in sub- section 710-716 of the Act. There have been a general revelation duty under section 710 which entails revelation of all data that investors and their counselors would rationally need and rationally anticipate to discover. Corporations were not provided with a check-list to pursue while making a prospectus, but must adapt the data to the professed requirements of the investors. A prospectus may usually define as a document that has been filed with ASIC under section 712. This was defined as a short form prospectus. Though under section 713, a prospectus for listed securities was only obligatory to comprise of the data about the dealing and other material data not previously revealed to the market. A proposal data statement could be utilized where the amount of money to be raised was less than $5 million. But as per the requirement of section 715, the disclosure obligation was restricted to the particular data. The general disclosure obligations do not pertain. A profile statement could only be utilized if ASIC permits. Such statements must include the data needed by section 714 and any other data required by ASIC. The makers of the prospectus could take strict liability as a defense, if they proof that they took sensible steps to make sure that the disclosure document or statement would not be imperfect. 3. Insider trading has been defined as the trading of the stocks or other securities of a public corporation such as bonds by the corporate insiders such as managers or executives of the corporation who has access to nonpublic data about the corporation. Such dealing has been usually limited and forbidden under law because it grants the insider people an unfair benefit that permits them to earn proceeds from data about a potential up and down tick in relation to a trading value of the corporation before other market players. Such types of dealings were monitored by the Securities and Exchange Commission (SEC). Such a authority has adopted regulations with regard to insider trading which would define it as any securities dealing which were made when an individual was incorporated in the business has non public, material data. As such data may be used by such professional in order to violate his or her obligation I order to preserve the secrecy of such skill b y utilizing it for financial gain. Insider information has been regarded as non-public information with regard to the plans or stipulations of a publicly traded corporation that could grant a financial benefit when used to purchase or sell shares of the stocks of the company. The exemptions in connection to lawful objective, performance of obligations and discharge of lawful duties remain indeterminate under the act of insider Trading. 4. Takeover has been defined as a procedure in which an acquirer takes over the authority or management of a target corporation by taking over the substantial quantity of shares or voting rights of such corporation. So, in order to take over a corporation there has been a specific procedure which must be kept in mind such as: A merchant banker must be appointed before making an public announcement of offer. Public announcement would be made to guarantee that the shareholder of the target corporation were aware if an exit chance provided to them. The revelations include: The proposal price, nuber of shares to be acquired; Identity of the acquirer; Objective of acquisition, etc. The acquirer was required to make the public announcement within 4 working days of the entering into a contract in order to acquire shares. Before the Public Announcement was made, the acquirer has to open an escrow account in the structure of cash placed with a listed commercial bank or bank pledge in relation of the Merchant Banker or in relation of satisfactory securities with proper margin with the Merchant Banker. The public announcement shall also specifically mention a date, which shall be the particular date for the object of shaping the names of the shareholders to whom the communication of proposal should be provided. Though such particular date shall not exceed more than the 13th day from the date on which public announcement was made.