Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Calls On Contributories:
Every person who is a member of the company at the commencement of winding up and every past member is in principle liable to contribute to the company's assets whatever may be required to enable it to pay its debts in full. Present and past members are therefore called "contributories". This serves to give present and past members the status of contributories with, for example, the right to petition for compulsory winding up. But if the company is limited by shares and its issued shares are fully paid the contributories have not liability to contribute anything in normal circumstances.
A contributory may be liable to contribute in the following circumstances:
(a) if the shares which he holds or previously held are partly paid or if it is found that the rules on consideration have been breached in the allotment of shares as fully paid'
(b) if the company is limited by guarantee;
(c) if the company is unlimited.
As explained below the persons who are members at the time when liquidation commences are primarily liable (when there is any liability). The liability of past members is very restricted.
Liquidators' Powers: The liquidator (in any type of liquidation) has numerous statutory powers but in the exercise of some of them he mus
QUESTION 1 Describe the Public Procurement Legal Framework of Mauritius QUESTION 2 Explain the following, within the meaning of the Competition Act: a. collusive agreem
What are the functions and powers of the Security Council? The functions and powers of the Security Council, which are as follows: • To keep international peace and security
WHAT ARE MITIGATING FACTORS OF A CONTRACT
Following are different time zones in which the issue of Jammu & Kashmir could be divided: 1. 1947: when the dispute came up 2. 1948-1957: when the matter goes to UN, the su
What is the dispute resolving mechanism Obligation to follow a treaty between states arises only when it has been concluded in a written form. Moreover, a treaty must be in a
Types of Agents - Agency Law Although broadly agents are either special or might be general depending on the scope of authority. Subsequently an agent engaged to carry a task
QUESTION 1 (a) List down the remedies that are available for breach of contract (b) Elaborate on two of them QUESTION 2 What are the duties of seller and buyer under
Special Courts However in addition to the courts dealt into paragraphs as 2.1 - 2.7 above, there exist in England a number of other institutions that are called "courts" or "t
What are the elements in the tort of negligence? There should be two elements, in tort as: a. The breach of legal duty or injuria. b. Loss suffered through defendant damn
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd