warrant and share certificate Membership of companies meetings; Directors appointment‚ powers‚ duties and liabilities‚Accounts and Audit Winding up of companies. Cases: Salomon v Salomon Ltd Macaura v Northern assurance Co. Ltd. The ashbury Railway carriage & Iron Co. v Riche Royal British Bank v Turquant A. V Mohan rao and another v M Kishan Rao‚ 2002 AIR(SC)2653 Module II: Contract Act‚ 1872 Essentials of
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QUESTION 1 a. Define a promoter of a company. Explain and illustrate with decided cases his legal position in relation to a company. Though the certificate of incorporation is conclusive for purposes of incorporation‚ using decided cases‚ outline circumstances under which it could be withdrawn.(10marks) ANSWER Definition; A promoter is one who undertakes to form a company with reference to a given project and to set it going and who takes the necessary step to accomplish that purpose - A promoter
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beyond the objects clause‚ otherwise it will be ultra vires and‚ therefore‚ void and cannot be ratified even if all the members wish to ratify it. This is called the doctrine of ultra vires‚ which has been firmly established in the case of Ashtray Railway Carriage and Iron Company Ltd v. Riche. The expression “ultra vires” consists of two words: ‘ultra’ and ‘vires’. ‘Ultra’ means beyond and ‘Vires’ means powers. Thus the expression ultra vires means an act beyond the powers. Here the expression ultra
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British Institute of International and Comparative Law Is the Doctrine of Ultra Vires Dead? Author(s): R. Baxt Source: The International and Comparative Law Quarterly‚ Vol. 20‚ No. 2 (Apr.‚ 1971)‚ pp. 301315 Published by: Cambridge University Press on behalf of the British Institute of International and Comparative Law Stable URL: http://www.jstor.org/stable/758032 . Accessed: 26/04/2013 02:48 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available
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INTRODUCTION: In a welfare state a government undertakes many ventures for the benefit of the people. This invariably means‚ powers have to be delegated to sub-ordinate bodies for the smooth functioning and administration of these bodies and ventures‚ as the Parliament cannot run all these bodies on its own. As the state’s involvement in public affairs increase‚ more and more power is devolved and as a consequence the need to regulate and restrict this power too increases. In doing so there is a
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MEMORANDUM OF ASSOCIATION Company- Company is a voluntary association of persons formed for the purpose of doing business having a distinct name and limited liability. It is a juristic person having a separate legal entity distinct from the members who constitute it‚ capable of rights and duties of its own and endowed with the potential of perpetual succession. The Companies Act‚ 1956‚ states that ’company’ includes company formed and registered under the Act or an existing company i.e. a company
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Irish Company law as it currently stands is comprised of 35 pieces of legislation‚ in addition to a wealth of case law based on common law and equitable principles. This current system of company law is unmanageable and of little practical use to the average Irish company. Although the sheer volume of law poses a major problem in itself‚ its somewhat haphazard layout causes most difficulty to business owners and managers. When a change or update is made to the law‚ rather than an act being repealed
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all‚ the set up of female-only compartments will bring a great cost to the railway company. For example‚ the current train in Hong Kong is in an open style in which passengers can walk from one carriage to another. If female-only compartments are adapted‚ a door will have to be built between each carriage to separate them. Also‚ more train attendant have to be employed to ensure males do not get into this special carriage. However‚ the users of the female-only compartments will not suffer extra charge
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paper will look into two modes‚ which are railway and road transport. The freight railroad industry plays a significant role in the national economy as a mainstay of transportation for a lot of fundamental industries and most for export and import operations. Today’s railroad systems offer dependable and consistent schedules that could be included in the planning of economic activities such as production and distribution. The demand for freight carriage is derived from the demand for the goods themselves
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Brandee Meyer Boston from 1850-1900 There was no time in Boston that was most emphasized‚ than the 1850’s to 1900’s. In the city of Boston there were a lot of changes that had occurred between the second half of the 19th century‚ not only with the city but also with the people living in Boston. Boston has always been changing and in transition. Boston had changed majorly from being the merchant city to the industrial metropolis. The population of people went up about ¾ in 50 years of its
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