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Company Law (a) Cyril Smith is a director of Clock Limited. He has not attended board meetings for the past eight months. Two months ago, he delegated the managing of the company's overseas business, for which he is responsible, to his 20-year-old nephew Alex. Last month, Alex asked Cyril to sign a blank company cheque. Alex explained that the money was needed to pay for overseas advertising. Cyril signed the blank cheque and Alex later absconded with £40,000 cash. The other directors of Clock Limited have discovered the above and request advice as to whether any action can be taken against Cyril. (b) Explain and illustrate by reference to existing case law the corporate opportunity doctrine. (a) The issue here is whether Cyril has breached the duties he owes the company as a director, specifically the common law duty of skill and care. The case law on this issue seemed to suggest that a fairly...

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