Function of the court, Business Law and Ethics

Assignment Help:

Function of the Court:

In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated:

"But important though its task is to see that the procedure by which a reduction of capital is carried through is formally correct and that creditors are not prejudiced, it has the further duty of satisfying itself that the scheme is fair and equitable between the different classes of shareholders". Therefore the court would therefore, not confirm a scheme of reduction if it is of the view that it is not "fair and equitable" to any of shareholders.


Related Discussions:- Function of the court

Ex-ship contracts - import and export trade, Ex-Ship Contracts - Import and...

Ex-Ship Contracts - Import and Export Trade Therefore whether goods are sold ex ship, such the duties of the seller are-like; (i) To deliver the goods to the buyer from suc

Organizational structure of urban authorities, Question 1: What do you ...

Question 1: What do you consider to have been the significant factors in the historical development of urban local government in Mauritius? Question 2: Give an account

Trade unions - unincorporated associations, Trade Unions - Unincorporated A...

Trade Unions - Unincorporated Associations Therefore these are registered under S.11 of the Trade Unions Act 1952 into the primary object of regulating the relations between e

What is an exemption clause, QUESTION 1 (a) Explain the word "condition...

QUESTION 1 (a) Explain the word "conditions" in a contract (b) Describe the various types of conditions that may exist in a contract QUESTION 2 Explain the term "war

Explain the need for rules in interpreting statutes, Question 1: (a) I...

Question 1: (a) In the Mauritian Legal System, there is a hierarchy of courts. Describe the various courts. (b) State and critically examine the features of the 5 main sour

Appointment of arbitrators, Appointment of Arbitrators However under s...

Appointment of Arbitrators However under sec 12(1) the parties are free just for agree on the procedure of appointing arbitrators. Therefore under sec 31(1) the parties are

Transfer of immovable property, Transfer of Immovable Property By S.54...

Transfer of Immovable Property By S.54 Property Act, 1882 as Note: This Act is applicable in the US requires that a transfer of immovable property worth over as 100 rupees mus

Describe journal in chronological order, For the transactions provided belo...

For the transactions provided below for the Braves Corporation during 2011, complete the following steps of the accounting cycle (round all answers and journal entries to the neare

Evolution of contracting , Evolution of Contracting  Contracts have evo...

Evolution of Contracting  Contracts have evolved over centuries. It is a lawful binding relation between two or more parties. The contractual relationships can occur - from a s

Explain international criminal court, Normal 0 false false ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

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