Contract - Oral loan agreement - Concluded by one of the directors of a company - Loan money given to the director - Whether company liable to repay the loan.
Company Law- Directors - Powers - One of company directors concludes an oral loan agreement and receives the money - Whether company liable to repay the loan - Section 33(b)
Companies Decree of Zanzibar-Relevant articles of the Articles of Association of the Company considered and construed.