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!
Companys objects:
A company's objects are stated pursuant to the provisions of an Act of Parliament. It must therefore be deduced, for example, that a company whose object has been stated to be "gold mining" cannot engage in "fried fish" business. This is because -
(a) Prospective investors who read the objects clause realised that the company was formed to mine gold. If they bought the company's shares they did so because they intended their money to be used in pursuance of the gold mining business. They did not give the money for any other business and the company does not have their consent to use it on any other business. If the company tries to use the money on a different venture, such as frying fish and chips, they can go to court for an injunction to restrain it from doing so.
(b) The statutory requirement that a company must state its objects in its memorandum would be rendered purposeless if, despite having stated the objects, the company was legally entitled to embark on any other activity. To prevent this happening, the courts concluded that the statement of objects would be taken to mean that what is not stated as an object cannot be pursued, or undertaken, by the company. In other words, the statutory requirement that the objects are to be stated implies that what has not been stated as an object cannot become a legitimate activity of the company.
What is Diplomatic immunity Diplomatic immunity relates to the protection of the representatives of another state to ensure that they perform their international political func
What is the meaning of Pareto inefficient outcomes Policy coordination is, therefore, designed to avoid Pareto inefficient outcomes. In absence of a supranational authority tha
MSc Finance and Management 2012-13 Ethics in Finance Ethics in Finance, Assessment Answer ALL THREE questions. This should be your own unaided work (this is an ethics assessmen
Law Society of England However the Law Society of England is a body corporate constituted through the Law Society of England Act. Therefore its objects or functions are, amon
when can implied condition can be treated as warrantee?
Explain in detail about the policy co-ordination of each country With no policy coordination each country will attempt to maximise its own welfare, taking the other country's m
QUESTION 1 Discuss the legal relationship between a bank and its customer with reference to the responsibilities of the parties towards each other QUESTION 2 (a) Examin
Implied Powers: The statement of Lord Cairns in 1875 in Ashbury Rail Co Ltd v Riche (22) to the effect that a contract beyond the objects o
Q. Dual appointment of FWO Inspectors? An additional legislative option would be for FWO Inspectors to be appointed under the Tax Act and the Corporations Act giving them great
LAW OF THE SEA The sea and all areas of the sea are regulated by international law. The jurisdiction of international law extends from the right of passage over t
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