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Effects or Consequences of Illegality
Misdemeanour Or Illegality renders a contract unenforceable. However the contract creates no rights and imposes no obligations at the parties. But, is because the contract is beyond the pale of law consequently neither party has a legal remedy. Thus as a general rule money or goods changing lands under an illegal contract are irrecoverable. Means gains and losses remain whenever they have fallen. Hence a court of law cannot assist parties for adjust their rights whether the contract is tainted with illegality. Conversely money or goods changing hands under an illegal contract possibly will be recoverable when
There are various types of immunities, such as; The diplomatic immunity, Immunities of international organizations, Sovereign of state immunity and Acts of state doctr
Dishonour by Non-Acceptance The drawee is not prepared to meet the bill, such he will return it for the holder by means of a note to this effect, such the bill is then so said
CONDITIONS FOR RELIEF: In H.R. Harmer Ltd (1959) Jenkins L.J. summarised the conditions which must be met before relief under the section can be granted by the court when he s
Undischarged Bankrupts: S.188 provides that if an undischarged bankrupt acts as director of any company without leave of the court he shall be liable to imprisonment for a ter
Allotment of shares and debentures - mergers and winding up: When the scheme is before the court for final approval a minority may object on any of the various grounds indicat
Liability: The secretary is an officer of the company and thus he owes fiduciary duties to the company which are similar to those of a director, eg. he must act in
WHAT ARE THE EXCEPTINS TO THE ''NEMO DAT'' RULE?
Compromise or arrangement - reconstructions: A scheme of arrangement is very flexible since it may be used to effect any "compromise or arrangement" with members or a class of
Theories of self-enforcing or implicit contracts These theories relate to the problem of limits to which legal compulsion can be employed (due to information or transaction cos
Liability of Guarantor Therefore a guarantor's liability which does not arise until whether the principal debtor has made default, because notice of the default utilized not b
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