Fraud or improper conduct, Business Law and Ethics

Assignment Help:

Fraud or improper conduct:

English courts have intervened on numerous occasions and lifted the veil of incorporation in order to circumvent a fraudulent or improper design by a bunch of scheming promoters or shareholders. This is illustrated by the decisions in Jones and Another v Lipman and Another (13) and Gilford Motor Co Ltd v Horne (14). The court's order in the latter case is usually cited as an instance of  lifting the veil but it should be noted that the  defendant (Horne) was not a member of the company and, in principle, no veil existed between him and the company which would have been lifted by the court. It is rather an instance of the court regarding the company as Mr Horne in another form ("alter ego").

Enemy Character

A company may be regarded as an enemy if, inter alia, all or substantially all of its shares are held by alien  enemies. This is illustrated by Daimler Co Ltd v  Continental Tyre & Rubber Co (Great Britain) Ltd (15). Since there appears to be no Kenya case on the point, the principles summarised by Lord Parker may be useful guidance to a Kenyan who might have to determine, in a given case, whether a particular company is to be  regarded as a friend or enemy of Kenya.


Related Discussions:- Fraud or improper conduct

How to explain the apparent lack of expressions, How to explain the apparen...

How to explain the apparent lack of expressions There are several ways to explain the apparent lack of expressions of the impacts. In fact, there are arguments that political

Personal property security act, You act for Fred who is the secured lending...

You act for Fred who is the secured lending manager of BigBank. He has a troublesome customer, Macs Tires Pty Ltd. This is a family run tire business with three directors. The prin

State about the stages in the policy process, State about the Stages in the...

State about the Stages in the policy process Stages in the policy process are generally conceptualized within a broader environment governed by constitutional rules, political

Winding up on, WINDING UP ON: "THE JUST AND EQUITABLE GROUND": Un...

WINDING UP ON: "THE JUST AND EQUITABLE GROUND": Unlike the other five grounds this one is widely interpreted and it is no objection that the petition is based on facts u

Describe the relationship that bank shares with its customer, QUESTION 1 ...

QUESTION 1 Barclays Bank in Mauritius has interviewed various candidates for the post of Chief Executive Officer. Its HR department has requested you to provide them with some

What was the unsc resolution 1540, UNSC adopted resolution 1540 UNSC ad...

UNSC adopted resolution 1540 UNSC adopted resolution 1540 stating to take appropriate and effective actions against any threat to international peace and security caused by the

Determine the term - cyclic majority voting, Determine the term - cyclic ma...

Determine the term - cyclic majority voting The cyclic majority voting, a problem first recognized by Marquis de Condorcet in 1785, the indeterminacy of voting process, has bee

Case law - statutory provisions, CASE LAW:    The aforesaid statutory ...

CASE LAW:    The aforesaid statutory provisions for the protection of minorities have been supplemented by judicial intervention in a variety of cases which are generally expl

Administration of the law, ADMINISTRATION OF THE LAW: Furtherly a sour...

ADMINISTRATION OF THE LAW: Furtherly a source of law is the origin of the rule that legal principle or constitutes a law.  Conversely the phrase 'sources of England law' that'

Determine about the principal-agent theories, Determine about the Principal...

Determine about the Principal-agent theories Wwhich concentrate especially on the problems of asymmetric information among the parties to a contract: the impossibility to perfe

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd