dismissal of directors definition

dismissal of directors

Any person holding the office of a director in a firm may be fired by the firm by passing an ordinary resolution (requiring only a simple majority) to the effect, even if he or she has a long-term contract of employment with the firm. However, the firm may be liable for breach of contract damages if the dismissal did not result from a fraudulent or other illegal act of the director.

dismissal of directors is in the Corporate, Commercial, & General Law and Entrepreneurship, Management, & Leadership subjects.

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