Purchase of shares - voidable contracts, Business Law and Ethics

Purchase of Shares - Voidable Contracts

However an infant who applies to is allotted, a company's shares becomes a member to the company under S.28 (2) for the Companies Act from the moment such his name is entered into the register of members. Hence he then acquires membership rights so then becomes subject to membership obligations such any other member.  Conversely he has a legal right to rescind the contract whether as has been a total failure of thoughtfulness that he paid the money for i.e. the shares have become worthless.

Therefore in Steinberg v. Scala (Leeds) Ltd. would the plaintiff so an infant shareholder, instituted rectification proceedings about a view to as;

  1. First is Being relieved from liability with calls, and one is
  2. Second to Recovery of money she had before now paid.

Conversely the court held such she should not recover the money that already paid since the shares had some value but she as the plaintiff then had not received any dividends from the company. Hence she was entitled to have her name removed from such the members' register for as the company had agreed to do.

Posted Date: 1/22/2013 2:20:11 AM | Location : United States







Related Discussions:- Purchase of shares - voidable contracts, Assignment Help, Ask Question on Purchase of shares - voidable contracts, Get Answer, Expert's Help, Purchase of shares - voidable contracts Discussions

Write discussion on Purchase of shares - voidable contracts
Your posts are moderated
Related Questions
Describe the policy making realities Rational models simply do not describe policy making realities. As policy actors seldom evaluate very many alternatives for action or compa

Goods - Sales of Goods Even if "goods" like in common parlance has like the Act has given the word such technical meaning. Whether it provides like; "goods" consist of "all chat

Explain important part in the international law The Use of force is a controversial and complicated issue at international level. The United Nations (UN) Charter declared it un

What is Codifying treaty Codifying treaty, meaning whereby, certain existing customary laws are codified in order to develop international law and make it binding between the s

Treaty on Principles governing the activities of States The Treaty on Principles governing the activities of States in the Exploration and Use of Outer space, including the mo

Formation and Partners - Partnership Law However the Partnership Act does not prescribe rules to the formation of a partnership.  Therefore a partnership may be formed like:

Mary has just graduated from LIM College and is in an interview with ABC Design Firm.  ABC employees several talented designers that work with ABC retail clients to design lines of

What is the meaning of Policy Convergence Under representative democracy - the number of voter with each preferred policy proposal can be illustrated by a frequency distributio

Theories of relational contracts These are long-term, non-legal or only incompletely legal agreements. The fact of incomplete foresight is taken into account by leaving gaps in

State the International Policy Coordination There may be two sources of interdependence between national economic policies, club goods and horizontal spill overs. The first has