Common law rules, Business Law and Ethics

Assignment Help:

Common law rules:

The above common law rules have been modified by the following statutory provisions:

 VOID ALLOTMENTS

a) S.50 A renders an allotment void if it was made to a body corporate which is not a registered company without the prior written consent of the Treasury. This section was presumably "slotted in" in order to prevent public funds given by the Treasury to parastatal organisations from being invested in bogus companies "owned" by some of the senior personnel in parastatals.

b) S.53 (1) renders an allotment void if it was made before aplying for, or obtaining, stock exchange permission for the company's shares to be dealt in on the stock exchange. This is only applicable in cases where the prospectus had stated that the permission had been, or would be, applied for.


Related Discussions:- Common law rules

Contract of employment has been terminated, QUESTION (a) Tom is 15 ½ an...

QUESTION (a) Tom is 15 ½ and he has not eaten for three days because his parents did not have any money to buy food when he approached Mr. Taylor for a job in his factory and t

Essay on Legal Change, Identify and explain any legal changes which had res...

Identify and explain any legal changes which had resulted from Economic changes, Changes in our moral values and Political changes

Describe the kind of organisation, Question: (a) Describe the kind of ...

Question: (a) Describe the kind of organisation that you would be willing to work for as a Professional. (b) As a practicing Professional, what body of knowledge, skills

Estate planning , Estate Planning Case Study Rich and his wife, Ruby, ...

Estate Planning Case Study Rich and his wife, Ruby, heard that you are an expert in the field of Estate Planning as a result of the superior education you received at WPU.  The

Necessaries - binding contracts, Necessaries - Binding Contracts Defin...

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

Discuss the parties'' criminal liability, QUESTION Albert approaches the...

QUESTION Albert approaches the National Transport Authority to have a taxi's license. The Chairman of the Authority, Mr. Smith, agrees to give him a license provided that Albert

Parol evidence rule, 1. How do mandatory terms limit freedom of contract? ...

1. How do mandatory terms limit freedom of contract? 2. How do contract interpretation issues arise? 3. What is the difference between subjective and objective intent?   4

Advise as conflict of interest, A is large property developer who is listed...

A is large property developer who is listed on the Kuala Lumpur Stock Exchange. B is a building contractor. A employed B in 2008 to build a large office complex comprising 3 towers

Unauthorized contracts - company secretary, Unauthorized Contracts: It...

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

Approval of the scheme - mergers and winding up, Approval of the scheme - m...

Approval of the scheme - mergers and winding up: A scheme of arrangement was agreed between Hambros and Hellenic whereby the shareholders of Hellenic were to have their shares

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd