Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Rule in Turquands case:
This statement can be reduced to two propositions which constitute what is compositely known as "the rule in Turquand's case", namely:;
i. A person dealing with a company is bound to read the relevant restrictive provisions of the Companies Act, like the memorandum of association of the such company and the company's articles of association. Whether he doesn't do like same he will be deemed to have read them and, as a consequence, to have been aware of their provisions.
ii. In so far as the articles provide that a transaction may be effected by some internal procedure, the person dealing with the company (called "outsider") may assume that the procedure has been duly complied with.
The effect of these propositions is that the company will be bound by the transaction even if the prescribed procedure was in fact not followed or complied with. Hence an "internal procedure" for this purpose would usually be a decision of the company which is made by an ordinary resolution passed by the company in general meeting, or a resolution of the directors passed at a board meeting. Such a resolution is not registerable at the Companies Registry pursuant to s.143 or any other section of the Companies Act and the outsider who goes to the Registry would not be in a position to ascertain whether it had in fact been passed. Rather than compel him to go to the relevant office of the company to make enquiry after then the courts decided to, as it were, "give him the advantage of the doubt" through holding that the resolution will be deemed to have been passed even if it had not actually been passed.
Q. Increasing the risk rating of building and construction? Stakeholders indicated that there is a significant risk of phoenix activity in the building and construction industr
Commercial Law Alice is an 80 year old, illiterate, and suffering from Alzheimer’s disease (a disease affecting short-term memory). Will is a social worker employed by the loc
Protection of General Public: It may happen that a resolution reducing a company's capital was passed in circumstances which indicate that the shareholders had not been proper
Reduction of Capital: 4.1 The general rule is that it is illegal for a company to reduce its capital. This is so because such a reduction would be tantamount to reducing
Judicial Control: Conversely the courts can declare any law made as subsidiary legislation to be invalid or unacceptable under the ultra vires doctrine. Thus the law may be de
Legal Procedures: The court may order the examination in private or public (ie. open court) of an officer of a company in liquidation or of any person known or suspected to ha
In 2001, Puerto Rico enacted a law that requires specific labels on cement sold in Puerto Rico and imposes fines for any violations of these requirements. The law prohibits the sal
Make-or-Buy Decisions Make or buy decision is a strategic decision that any organisation has to make, between producing an item internally and buying it externally. With t
What is Recessionary Bias To illustrate the possibility of recessionary bias we assume that both countries have two policy objectives but only one policy instrument. The policy
Ratification of Corporate Acts: A number of English cases which are regarded as instances of lifting the veil are those relating to informal ratification by the members of act
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd