Rule in Foss v Harbottle is a leading English precedent in corporate law. According to this rule, the shareholders have no separate cause of action in law for any wrongs which may have been inflicted upon a corporation. The rule is named after the 1843 case in which it was developed.
Stock and shares, although used sometimes as synonym, are different in meaning. Some of the differences between the two are as below:
Undisclosed Principal is a concept covered under law of Agency. Undisclosed Principal is a person who acts through an agent for the purpose of any negotiations with the third party, without his identity being disclosed. The third party does not know about the existence of such principal and deems the agent as if he is acting for himself. In other words, the third party considers the agent to be the principal.
For a Company, there is very thin line between Members and Shareholders. Often they are used interchangeable, but they have various differences.