A Scheduled bank had power in the Articles to issue bonds under the authority of...
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Finance
A Scheduled bank had power in the Articles to issue bonds under the authority of an ordinary resolution. The Directors of the company issued bonds to Benny without the requisite resolution. Benny sued the bank for the recovery of the money under the bonds. The suit was resisted on the ground that there was no requisite resolution of the bank. Will Benny succeed in her suit. Explain the situation in the light of the Doctrine of Indoor Management. (15 Marks)
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