Question: USE THE FOLLOWING STATEMENT TO ANSWER THE QUESTION: The Memorandum of Incorporation of Guns 'n Roses (Pty) Ltd provides that the main business of the

USE THE FOLLOWING STATEMENT TO ANSWER THE QUESTION: The Memorandum of Incorporation of Guns 'n Roses (Pty) Ltd provides that the main business of the company is the manufacturing and sale of toy guns. Mr Hoodlum, one of the directors, has been authorised by a board resolution to act on behalf of the company. Mr Hoodlum concludes a contract on behalf of Guns 'n Roses (Pty) Ltd with Mr Brothel for the purchase of a nightclub. Mr Brothel has no knowledge of the contents of the Memorandum of Incorporation of the company. Mr Orthodox, a majority shareholder of Guns 'n Roses (Pty) Ltd, is upset about the purchase of the nightclub. Mr Orthodox approaches you for legal advice.

2.1.2 Discuss the remedies available to Mr Orthodox as a shareholder of Guns 'n Roses (Pty) Ltd if the contract was already concluded. FOR 5 MARKS

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