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".
QUESTION 1 Discuss the position in UK with respect to the Capital Maintenance Doctrine. QUESTION 2 (i) What are the essential requirements of a valid Asset Protection T
Munsami was driving his car registration number CB 713 from Nausori to wards Suva. He was travelling at 80kmph on 50kmph zone. At koronivia a taxi driven by Ram Raji of Koronivia,
Question: a. An Ethical dilemma is a complex situation that often involves an apparent mental conflict between moral imperatives, in which to obey one would result in transgre
Capacity - Element of Contract Capacity to Contract However 'capacity' may be described like the legally documented right of a person to enter with a legally binding ag
Prospect of inflationary wage settlements The same logic can be applied to various supply side policies. Take, for example, the prospect of inflationary wage settlements. If w
Part A Companies can raise finance by borrowing money and securing the debt by way of fixed or floating charge. Using case law in your answer explain what is the distinction b
phoenix activity involves "the evasion of tax and other liabilities, such as employee entitlements, through the deliberate, systematic and sometimes cyclic liquidation of related c
Illustrate the case of environmental taxes Consider the case of environmental taxes. There is clear evidence that International Environmental Agreements (IEAs) suffers from an
Question 6 Indicate any amounts from these transactions that is assessable income for the 2016/17 tax year. (a) Frida is a resident taxpayer employed by Sharpe Office Supplies. Sh
Schemes of fraud: Auditors must not be made liable for not tracking out ingenious and carefully laid schemes of fraud whenever there is nothing to arouse their suspicion, and
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