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.
1. Tort reform refers to proposed changes in the civil system that would reduce tort litigation or damages. Proposals include, among other things,putting a cap on the amount a plai
It has been estimated that about 6,000 phoenix companies operate in Australia, costing government and the community hundreds of millions of dollars per year and impacting on indi
ADVANTAGES: Therefore some of the advantages or strong point of delegated legislation are:as; (a) Compensation of lost Parliamentary time Conversely parliamentarians a
hello.. iahve one business law assignment can you please give me quote?
David wants to open a restaurant in Melbourne. He engages Robert Boyd Pty Ltd, an architectural firm, to design the restaurant interior and exterior including the layout and positi
REGULATIONS REGARDING EXPERIMENTS ON ANIMALS : You may be aware that experiments on animals are performed in the laboratories of educational and research institutions. You should k
Arbitral Award However the decision of the arbitral tribunal is referred to like an arbitral award. Therefore the terms of employment really require the arbitrator that must m
Patrick works in the same office as Marian and they do not work well together. One day, Marian got credit for a job well done and Patrick got angry over it. He walked int
A landowner has a duty to protect a person that enters his/her property from injury. If the person is a guest or licensee, then it is a higher duty of care. However, the landowne
QUESTION 1 (a) According to Thomas Dye "Public Policy is whatever governments choose to do or not to do". How far do you agree? (b) Explain clearly how the first important s
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