The members of Wayami Co Ltd appointed Symik, Leone and Kimbery as their directors. These three assumed the office of the directors and executed a certain transactions including a loan transaction in favour of the company.

Later, Leone’s son turned 18 years and Leon wanted him to join the board of directors of Wayami Company limited. So, without approval of the other board members, Leone sent a letter to his son appointing him as a directors of Wayami Co. Ltd. When he reported to the office, he was not allowed into the company on the argument that his appointment was invalid.

Further, the members of Wayami Co. Ld have discovered that Symik had been disqualified from holding the office of a director before they appointed him. These  two issues are going to be deliberated in a members meeting. The members of the company have called you and sought your advice. Using company law, advise the members on the validity of the loan transaction entered into by Symik on behalf of the company; and the validity of the appointment of Leone’s son to the board of directors(20 marks)