Publication of name, Business Law and Ethics

Publication of Name:

                            Section 109(1) requires every company (except one exempted under s.21):

(a)     To paint or affix its name in a conspicuous position on the outside of every office or place in which its business is carried on and to keep it so painted or affixed;

(b)     To mention its name on all letters, notices, official publications, bills of exchange, promissory notes, endorsements, cheques, bills of parcels, orders, invoices, receipts and letters of credit of the company; and

(c)     To engrave its name on its seal which shall be in the form of an embossed metal die.

If a company does not paint or affix its name as prescribed, the company and every officer in default are liable to a fine not exceeding one hundred shillings and if the company does not keep its name painted or affixed as prescribed, the company and the officer in default shall be liable to a default fine.

In the event of failure to comply with (b) or (c) above, the company and the offiver responsible shall liable to a fine not exceeding one thousand shillings and the officer may be made personally liable to any creditor who has relied on the document, if the company fails to pay. This personal liability has been explained in paragraph 1.10.1(b) above, under "lifting the veil of incorporation".

Posted Date: 1/12/2013 2:24:41 AM | Location : United States







Related Discussions:- Publication of name, Assignment Help, Ask Question on Publication of name, Get Answer, Expert's Help, Publication of name Discussions

Write discussion on Publication of name
Your posts are moderated
Related Questions
Houghland, a passenger in one of McAnn's buses, had his suitcase stored in a luggage comp of the bus for a trip from Brisbane to Cairns. The suitcase was lost during the course of

Determine the Complexities of the policy process Complexity of the policy process, affects the form of delegation of powers to the agents by the principal. When there are a lar

Advantages of Arbitration (a) First is, Speed : It is a faster scheme of dispute resolution (b) Second is, Convenient : Parties are free for determine as; Th

Bazil decided to celebrate a promotion he had received at work that week by having a few alcoholic drinks on the weekend. After a few hours spent in the local pub, Bazil decided he

Principle of floating charges: The general purpose of the rule is to prevent an unsecured creditor of an insolvent company from getting advantage over other creditors by obtai

Invitation to Treat - Law of Contract Well this is a mere invitation through a party to another or others to make offers.  Another time the offeror become offeree and invitee

Appeals - Court-Martial In fact in Section 115 of the Armed Forces Act including a person who has been convicted through a court-martial to appeal to the High Court either aga

What forces the policy maker to obey the law When law directs a policy maker to carryout policy, what forces the policy maker to obey the law? When there is no restriction from

State in brief about the term - Reputations Reputations can be defined as the actions an agent and expected to take. If he takes it up, he establishes his reputation or otherwi

Managing Director: In Ellis v Bailey and Company (East Africa) Limited (76) it was stated that "without specific authority in the articles directors may not appoint one of the