Question: please answer for me tq the answer please explain detail i will give the answer but in point elaborate it and expand it please question
please answer for me tq the answer please explain detail i will give the answer but in point elaborate it and expand it please
question 1 )the directors of an organization play a vital role of governing on behalf of the shareholder or members of that entity
Explain the duties and responsibilities of a director under the company law act 1967 10 marks
- define role director
-follow the company constitution
- promote the success of the company
-avoid conflicts of interest
-not accept benefits from third parties
- disclose interests in proposed transactions or arrangement
QUESTION 2 ) describe briefly what is a hire-purchase agreement
- define
- a system of acquiring goods on credit whereby the seller of these goods will then be regarded as the dealer, the purchaser will be the hirer and the finance company is the owner the ownership of these goods that are bought on hire purchase will not pass to the hirer at the time of the hire purchase agreement or upon the delivery of the goods.
- the ownership of these goods that are bought on hire purchase will not pass to the hirer at the time of the hire purchase agreement or upon the delivery of the goods.
-Instead, the owner of the goods will remain with the finance company until the hirer will be able to fully settle the price that has been agreed upon in the hire purchase agreement.
- The hire purchase agreement which is commonly known as the H.P. agreement must be made in writing and should also take note that any form of an oral agreement is not valid in the hire purchase agreement.
-A hire purchase agreement must be signed by or on behalf of all the parties that are involved in the agreement.
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