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Function of the Court:
In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated:
"But important though its task is to see that the procedure by which a reduction of capital is carried through is formally correct and that creditors are not prejudiced, it has the further duty of satisfying itself that the scheme is fair and equitable between the different classes of shareholders". Therefore the court would therefore, not confirm a scheme of reduction if it is of the view that it is not "fair and equitable" to any of shareholders.
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In 2001, Puerto Rico enacted a law that requires specific labels on cement sold in Puerto Rico and imposes fines for any violations of these requirements. The law prohibits the sal
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QUESTION The Web has made it extremely attractive to conduct commercial activities online. Companies such as Amazon.com and eBay are e-commerce powerhouses that sell all sorts
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Prospectus Issue And Statutory Provisions: A company's shares are legally regarded as goods. Consequently, the common law rule known as "caveat emptor" applied to their sale.
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