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Answer the following questions and use cases to support your answers. Morin Limited, a private company limited by shares, adopts Model Articles as its articles of association. The articles contain the following provisions among others: 1. That any disputes between the company and its members should first be submitted to arbitration before it may be taken to court; 2. That the directors of the company may, with the approval of the general meeting, declare a dividend to be paid to the members in cash and in proportion to their shares: 3. That in consideration for the sale of his property to the company, Adam would become a member of the company and would be a director for at least four years. In spite of these provisions, Sandra, a preference shareholder in the company, without going through arbitration, sued the company for a breach of contract for failing to pay her the agreed rate of dividend. The General meeting of the company, against the vote of Malcom, passed a resolution to pay dividends by way of debentures instead of cash. Adam never became a member of the company but was made a director. He was however, removed as a director before the stated four years. Required: Advise Morin Limited, Sandra, Malcolm and Adam on their respective rights and liabilities under the company's articles.

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