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!
Pre-incorporation Contracts:
A pre-incorporated contract is an agreement which is entered into, usually by a promoter or promoters, on behalf of a company at a time when the company's formation has not been completed by its registration. A few cases have been contested in English courts regarding the effect of such agreements. The following rules were enunciated by the judges in the course of deciding the said cases:
(a) If the agreement is a written one and it is apparent from the words used therein that the promoters were contracting as individuals, they will be held personally liable under the contract. This will be so because no oral testimony will be admissible in evidence to rebut the contents of the written document: Kelner v Baxter (23).
In other words, they will not be allowed to say that they were contracting for the company. Regarding the case of Kelner v Baxter it should be noted that, according to the written document that the parties signed, the offer was made to, and was accepted by, the promoters personally. They were therefore made personally liable on the contract. This was clarified by Lord Goddard in the later case of Newborne v Sensolid Ltd (24) when he said that, in Kelner v Baxter, "the contract showed that it (i.e. the wine) was agreed to be sold to certain men who were the proposed directors of a company which was coming into existence. They agreed to buy".
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
Law of Agency - Lawful Rules Though the law of agency prescribes the lawful rules to ascertaining as: (a) How a person possibly will become an agent; and one is
Removal of Directors: By s.185(1) a company may by ordinary resolution remove a director before the expiration of his period of office, but notwithstanding anything in the art
The acts of non-state actor More importantly, the concept of non-state actor needs be discussed by the concept of state responsibility, that is to say how and to what extent a
"Within a company there are many areas of potential disagreement among members. As the range of potential disagreement is very broad, so also is the scope for exploitation and abus
In 2004 the Corporations and Markets Advisory Committee proposed that assets and liabilities of companies be aggregated and creditors paid from a common pool which is commonly refe
Directorship - company management: A directorship is not a professional job with a legally prescribed qualification. In the circumstances, anybody (even a six-months-old baby)
Law and Morality: Since morality contain of prescriptions of the society and is not enforceable, hence rules of law are enforceable. However wrongs in society are contraventi
State the world rate of interest We have assumed that the world rate of interest only falls to equal R 2 . At point B, therefore, the domestic rate of interest is below the wo
What is the use of self defence The controversy regarding the use of self defence is the 'anticipatory self-defence'. Those with a restrictive view state that it no longer e
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