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Kaye v London Tramway [1898] 1 Ch 358

By Oxbridge Law TeamUpdated 04/01/2024 07:05

Judgement for the case Kaye v London Tramway

Table Of Contents

  • Was provisional agreement for sale of an undertaking by one company to another.

  • Purchaser agreed to pay substantial compensation to directors of company to compensate them for loss of office upon sale.

  • Directors called meeting of members to approve purchase, but notice of meeting did not include reference to directors’ compensation payments.

Held

  • Notice was invalid

    • i.e. because it was inadequate

    • Notice of meetings must be fair and adequate

  • Therefore approval of transaction by shareholders was also inadequate.

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