Function of the court, Business Law and Ethics

Function of the Court:

In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated:

"But important though its task is to see that the procedure by which a reduction of capital is carried through is formally correct and that creditors are not prejudiced, it has the further duty of satisfying itself that the scheme is fair and equitable between the different classes of shareholders". Therefore the court would therefore, not confirm a scheme of reduction if it is of the view that it is not "fair and equitable" to any of shareholders.

Posted Date: 1/12/2013 4:29:13 AM | Location : United States







Related Discussions:- Function of the court, Assignment Help, Ask Question on Function of the court, Get Answer, Expert's Help, Function of the court Discussions

Write discussion on Function of the court
Your posts are moderated
Related Questions
Gains from Policy Coordination The previous section has illustrated how large countries typically face positive or negative spill over effects associated with aggregate demand

JURISDICTION  According to Peter Stephen Du Ponceau, an international lawyer from Philadelphia, Jurisdiction, in its most general sense means; "The power to make, declare, o

Explain in detail about the policy co-ordination of each country With no policy coordination each country will attempt to maximise its own welfare, taking the other country's m

Termination of an Offer - Revocation Such offer is "revoked" whether the offeror changes his thinking and withdraws it as for expressly or impliedly.  However to be valid suc

Adequacy of consideration - Law of Contract Well provided that consideration is sufficient, or actual it necessitate not be adequate.  Hence the court will not compare the val

Conrad put an advertisement in a newspaper on 19 November offering to sell his motor boat for $35,000. On 21 November, Joe rang Conrad and said he was prepared to pay $30,000 for t

Bagra Used Cars Ltd. has as the most prominent show on its lot an immaculate, highly polished model which rotates slowly on a raised circular platform under powerful floodlights. T

Division of company's Powers: Article 80 of Table A states: "The business of the company shall be managed by the directors one who may... exercise all the such powers of th

Balance sheet: S.148(2) utilize the directors to prepare and lay before the company in simple meeting a balance sheet as at the date to such that the profit and loss account,

What is the Predevelopment Phase of policy process a) Get authorization and support Who has the authority to create this type of policy? Who has the authority to approve