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!
Calls On Contributories:
Every person who is a member of the company at the commencement of winding up and every past member is in principle liable to contribute to the company's assets whatever may be required to enable it to pay its debts in full. Present and past members are therefore called "contributories". This serves to give present and past members the status of contributories with, for example, the right to petition for compulsory winding up. But if the company is limited by shares and its issued shares are fully paid the contributories have not liability to contribute anything in normal circumstances.
A contributory may be liable to contribute in the following circumstances:
(a) if the shares which he holds or previously held are partly paid or if it is found that the rules on consideration have been breached in the allotment of shares as fully paid'
(b) if the company is limited by guarantee;
(c) if the company is unlimited.
As explained below the persons who are members at the time when liquidation commences are primarily liable (when there is any liability). The liability of past members is very restricted.
Realization of Auditors: it is a mere truism to say that the value of loans and securities depends on their realization. We were told that a statement to that effect, is so u
Illustrate the case of environmental taxes Consider the case of environmental taxes. There is clear evidence that International Environmental Agreements (IEAs) suffers from an
CASE LAW: The aforesaid statutory provisions for the protection of minorities have been supplemented by judicial intervention in a variety of cases which are generally expl
Question 1: (a) What does Professional Practice mean to you? Define your perception of good Professional Practices. (b) Discuss some of the difficulties and challenges fac
Assignments submitted after the due date in the absence of an extension will incur a marking penalty. An extension must be applied for in writing before the due date. Extension app
1. Each country in the world is a member of the World Trade Organization (WTO). 2. A federal court of the United States and a state court can both "hear," i.e., listen to the cl
Incorporation Osborne's "Concise Law Dictionary" defines incorporation as a "merging together to form a single whole; conferring legal personality upon an association of indi
Explain UNHCR UNHCR provides protection and assistance not only to refugees, but also to other categories of displaced or needy people. These include asylum seekers, refugees w
Counter - offer and Death - Termination of an Offer Counter - offer However a counter - offer is constituted through the offeree's qualified acceptance that in itself g
State Article 22 of air and outer space law Article 22 states that all the States should prevent unnecessary delays to aircraft, crews, passengers and cargo, esp
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd