1. Explain the differences between vertical and Horizontal Integration?
2. Discuss the regulations for alterations of capital under Companies Act 2015- Fiji?
3. Discuss two ways in which Corporations can be dissolved.
4. Discuss advantages of Mergers

Freeman & Lockyer v Buckhurst Park Properties (Mangal) Ltd [1964] 2 QB 480 (UK)

The facts: A company carried on a business as property developers. The articles contained a power to appoint a managing director, but this was never done. One of the directors of the company, to the knowledge but without the express authority of the remainder of the board, acted as if he were managing director. He found a purchaser for an estate and also engaged a firm of architects to make a planning application. The company later refused to pay the architect's fees on the grounds that the director had no actual or apparent authority.

With reference to authority of directors, explain if the company is liable to pay the architects fees?