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Undischarged Bankrupts:
S.188 provides that if an undischarged bankrupt acts as director of any company without leave of the court he shall be liable to imprisonment for a term not exceeding two years or to a fine not exceeding Shs.10,000/=, or both.
5. S.189 : Fraudulent Persons
S.189(1) empowers the court to make an order restraining a person from being appointed, or acting, as a company's director for a period not exceeding five years if-
i. The person is convicted of any offence in connection with the promotion, formation or management of a company: or
ii. In the course of a winding up, it appears that the person has been guilty of fraudulent trading (under s.323) or has otherwise been guilty, whereas an officer of the company, of any fraud or breach of duty to the company.
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
Types of Contract - Law of Contract However common law of US relating to the contract classifies contracts with the following categories as; Specialty Contra
Disadvantages of Stare Decisis Over-subtlety or Artificiality However a judge is forced, but it were follow an earlier case that, his conscience may preclude him from
Stakeholders emphasised that a coordinated, whole of government approach is necessary to mitigate phoenix activity. Stakeholders also emphasised that options should recognise th
Case Law Relating To Dividends: The above provisions of Table A supplement the following common law rules: 1) Losses in previous years need not be provided for. Furthe
Exceptions: The rule in Turquand's case will not apply if: i.The person suing the company is in fact an insider, such as a director of the company: Howard v Patent Ivory
Question 1: (a) What is meant by: (i) Ratio Decidendi (ii) Obiter Dicta (iii) Legal Doctrine (b) Distinguish between Criminal Law and Civil Law.
Company Secretary: 4.19.1 Appointment of the Secretary By section 179, every company must have a secretary but a sole director cannot be a secretar
Personal rights invaded: A shareholder may sue to protect from invasion their own individual rights as members. This is illustrated by Pender v Lushington
Ahtesh is the promoter to a company not yet incorporated. As promoter he bought two excavators on behalf of the company as the latter would be building and running a hotel. While t
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