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!
Civil Liabilities:
LIABILITY FOR FAILURE TO STATE ANY MATTER OR REPORT
At Common Law, a contract of allotment is not a contract Uberrimae Fidei. The company is therefore not under a legal obligation to disclose or state in its prospectus any relevant matter or report. The allottee of shares has, therefore, no remedy against the company if he bought the shares which he would not have bought had the company made the relevant disclosure. This rule has not been changed by the disclosure requirements of the Companies Act.
However, the allottee may have a remedy for an omission if the failure to state any relevant fact had the indirect effect of rendering a stated fact untrue, with S.48 (a) of the Act. For example, in COLES v WHITE CITY (MANCHESTER) GREYHOUND ASSOCIATION LTD the prospectus stated that the land to be acquired by the company was "eminently suitable" for greyhound racing. No mention was made of the fact that approval of the local council was required in order to build public stands and kennels. This was held by the Court of Appeal to be a ground for rescission by the plaintiff.
Legal Status: A promoter is not an agent of the company he promotes. However, the English courts have held that he stands in a fiduciary relationship to the company he promo
Proceedings at meetings - Held: Held: The resolution as passed was invalid since it was not the special resolution of which notice had been given. Even the retention of 321 p
Describe in detail about the - policy makers Elections are used to choose the policy makers, it is not the only mechanism. Since the authority to make decisions may be vested i
DUTIES OF AUDITORS: The duties of auditors are explained in the following cases. 1. RE: KINGSTON COTTON MILL CO. (1896)(CHANCERY) For some years before a company was wou
QUESTION 1 Why is the United States, which is a leader country in so many areas, so far behind in the provision of social welfare benefits? QUESTION 2 (a) Who uses private
During the first lecture students asked for some assessments topics to guide them in the decisions that they need to take. Please note that: 1 Students may still formulate the
Rules Relating to an Offer - Law of Contract However the case law relating to an offer has established the following rules: 1. Such offer may be oral plus written or may be
Describe the term- higher national income and interest rate This causes country B to adjust to point B with both a higher national income and interest rate. At this point the f
I am an executive being transferred from my home city on the west coast to one in the Midwest. I know nothing about the city I'm moving to, but I have to buy a house there. Realtor
Q. Indicator based definition of phoenix activity? Many stakeholders emphasised the importance of educating the community about the signs or indicators of phoenix activity. A d
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