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QUESTION (a) Define the term 'contract' and explain the basic elements which constitute a valid and legally enforceable contract under the English Law (b) What do you unders
Exceptions: The rule in Turquand's case will not apply if: i.The person suing the company is in fact an insider, such as a director of the company: Howard v Patent Ivory
C.I.F. Contacts - Import and Export Trade Therefore a c.i.f. like cost, insurance else freight whether contract is a contract for the sale of goods for be performed through the
Distribution of Surplus Assets: If the debts are paid in full the liquidator should apply what remains in repayment of capital paid on shares and then distribute any residue t
Leon, a bank vice president, joined Fitness Center, Inc. (FC). He signed a contract stating, among other things, an exculpatory clause that FC
Issuing shares at a discount: In Ooregum Gold Mining Co of India Ltd v Roper (45) the House of Lords held that it is illegal for a limited company to issue its shares at a dis
SECURED CREDITORS: A secured creditor may: (a) realize his security and prove as an unsecured creditor for the balance (if any) of his debt; (b)value the security and prov
STATUTORY INTERPRETATION: Conversely the precise connotation of a law written in an Act may cause a legal dispute. So this is so because, even though the law is written and c
Misfeasance by the auditors: However it is not sufficient to describe that the frauds must have been detected whether the entries in the books had been put mutually in a way w
Contents of the Notice: The notice convening a meeting must be clear and explicit so that the person receiving it may be in a position to decide whether or not he ought in his
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