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VOIDABLE ALLOTMENTS: An allotment of shares is voidable if it is made in breach of- a) Section 49 (1): by having been made before the minimum subscription was raised o
Theories of self-enforcing or implicit contracts These theories relate to the problem of limits to which legal compulsion can be employed (due to information or transaction cos
Members voluntary winding up: In a members' voluntary winding up the creditors play no part since the assumption is that their debts will be paid in full. There is no committ
XYZ Ltd has 1000 members and it has adopted a constitution. Matt is one of the directors of XYZ Ltd. Matt has made a gift of $10,000 to his wife, Melissa out of the Company's funds
Duties of Directors: The duties of directors are usually considered under two broad headings, namely- i. Duties of care and skill at common law, and ii. Fiduciary duties
Change of Business Name: Section 17(4) of the Registration of Business Names Act provides that if - (a) any company is, through inadvertence or otherwise, registered un
STATE SUCCESSION International law regulating state succession deals with the situation where there is a change in sovereignty over a particular territory. State succession occ
Involuntary Restraints - Law of Contract Although these are restraints imposed by professional bodies and trade associations at their members to certain purposes as e.g. enhan
Disadvantages of Statute Law: Imposition of law However some Acts are imposed on the people and reflect the views of the pundits or Executive in the ruling political part
Advantages of Arbitration (a) First is, Speed : It is a faster scheme of dispute resolution (b) Second is, Convenient : Parties are free for determine as; Th
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