Common law rules, Business Law and Ethics

Common law rules:

The above common law rules have been modified by the following statutory provisions:

 VOID ALLOTMENTS

a) S.50 A renders an allotment void if it was made to a body corporate which is not a registered company without the prior written consent of the Treasury. This section was presumably "slotted in" in order to prevent public funds given by the Treasury to parastatal organisations from being invested in bogus companies "owned" by some of the senior personnel in parastatals.

b) S.53 (1) renders an allotment void if it was made before aplying for, or obtaining, stock exchange permission for the company's shares to be dealt in on the stock exchange. This is only applicable in cases where the prospectus had stated that the permission had been, or would be, applied for.

Posted Date: 1/12/2013 3:12:45 AM | Location : United States







Related Discussions:- Common law rules, Assignment Help, Ask Question on Common law rules, Get Answer, Expert's Help, Common law rules Discussions

Write discussion on Common law rules
Your posts are moderated
Related Questions
Defendant, Jones, is charged with several counts of possession of drugs and weapons. In the early morning hours, a 911 caller reported: "I hear a loud disturbance from Joe Jones' a

Proceedings for Compulsory Liquidation: When the petition is presented to the court a copy is delivered to the company in case it objects, and it is advertised so that other

Characteristics of Contract of Guarantee (a) There have be three parties: as the creditor, as the debtor and as like the surety or like guarantor. (b) There have be as a pr

Stolen Goods - Sales of Goods Where goods have been stolen and had been the thief has been prosecuted and convicted, such the property in the goods revests in like original ow

Fraud or improper conduct: English courts have intervened on numerous occasions and lifted the veil of incorporation in order to circumvent a fraudulent or improper design by

Convening of General Meetings: General meetings are normally convened by the Board of Directors pursuant, to the relevant provision of the company's articles, such as Table A,

QUESTION 1 S.38(2) and S.38(3) of the Employment Relations Act require that an employee should be given the "opportunity to answer the charge" before the employer decides to te

EXPLAINING THE PURPOSE OF THE CB ASSIGNMENTS An essential part of understanding the law is being able to read, digest, and synthesize legal cases (also referred to as case law o

Differences between registered companies and partnerships: The basic differences between registered companies and partnerships are as follows: (a) Formation Registration

Qualifications of Judge Hence for qualify to appointment as a judge of the High Court a person must either be as; An advocate of the High Court or may Have b