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Choice Of Method:
There are three statutory methods to be considered:
Where one company offers to acquire the shares of another company and its offer is accepted by holders of 90 per cent or more of the shares for which the offer is made the acquiring company may compel the non-accepting minority to transfer their shares on the same terms. This is the standard procedure for "mopping up a minority" and achieving complete success in a take-over bid. It is no objection that the acquiring company already owns (directly or through subsidiaries) some shares of the other company. Accordingly this method is also available to acquire the outstanding minority shareholding of a partly-owned subsidiary (s.210).
Unauthorized Contracts: It may sometimes happen that a company's agent, while entering into a contract on behalf of the company, exceeds his powers under the articles of assoc
Necessaries - Binding Contracts Definition of 'Necessaries' cleared by S. 4(2) to the Sale of Goods Act like "goods appropriate for the condition in life of that infant or min
Implementation of the international law This further leads to the issue of implementation of the international law. There are certain ways through which the international law c
Effects of an Order for Compulsory Liquidation: The effects of the order are follows as are: (a) the Official Receiver (an Official of the High Court whose duties relate ma
Scheme of Arrangement: The following sequence of action is necessary: (a) application is made to the court (usually by the company itself) for an order that one or more me
Special Courts However in addition to the courts dealt into paragraphs as 2.1 - 2.7 above, there exist in England a number of other institutions that are called "courts" or "t
X Co. is a retail dealer of garden tractors. Mr. Y signs a contract to buy a garden tractor for $400 but later backs out of the agreement. The tractor that Y agreed to buy is subse
Remedies of the Buyer - Sales of Goods (a)Damages for non-delivery Section number 51 (1) provides that whether the seller wrongfully neglects or refuses to deliver the go
Explain passive personality principle passive personality principle states that jurisdiction may be exercised in respect of events occurring outside a State's own territory whe
What are the main areas of case law? Case law: There are two main areas, as follows: • Common law: It is an amalgamation of past cases that are used to make decision
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