Stellenbosch Farmers’ Winery Ltd v Distillers Corporation Ltd and Another SA 458 . A trust exists whenever someone is bound to carry and administer property on behalf of one other, and never for the benefit of the holder. A cooperative is an autonomous association of persons united voluntarily to fulfill their common economic and social wants and aspirations via a jointly-owned enterprise, democratically managed, and organised and operated on co-operative ideas. If they breach this obligation, they will be liable to the close corporation for any loss triggered. The degree of care and ability required is that which can fairly be anticipated from a person of the particular member’s information and experience.
Officer And Director Liability
Instead, the group of “realist” principle or “natural-entity” theory focus more on the association of persons. Thus, it was essential to determine whether or not or not a controlling shareholder, at the same time … Read More