A company has full legal capacity to enter into contracts, own property, and to sue and be sued. Shareholders or members are only liable for the value of their shares. They are not liable for any other debt or obligations of the company. Only the company can bring an action to court for a wrong committed against the company. They constitute a contract between the members and the company, and between the members.
Directors manage the affairs and the business of the company.
A company must have at least 2 directors. Their powers to supervise the company's activities are very broad. In general, directors are only limited by the shareholders' vote at general meetings and the memorandum and articles of association. Directors owe a duty of care to the company in tort. The requisite standard of care is a subjective test that varies with the skills and experience of a director.