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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.
Corporation Sole - Types of Corporations However this is a legal office that is occupied through one human being only at any one time. Whether the person ceases to occupy
What is the difference between an express term and an implied term? Provide me with an example of each.
Reports and balance sheets: The reports and balance sheets for the years ending June 30, 1925, and, June 30, 1926, were signed by two directors. The reports annexed to these
Question 1: The Ministry of Agro Industry & Fisheries has come up with a new Fisheries and Marine Resources Act to provide a coherent legal and institutional framework with a v
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QUESTION 1 "misconduct must be viewed in the specific context where it occurs and in the relevant nature of the relationship existing between the employee and the employer;" (S
XYZ Ltd has 1000 members and it has adopted a constitution. Matt is one of the directors of XYZ Ltd. Matt has made a gift of $10,000 to his wife, Melissa out of the Company's funds
Impose a duty on directors: A company is, however, free to impose a duty on its directors to attend board meetings within a certain period of time and to prescribe the consequ
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Determine the concept of credibility Let us make it clear that credibility of a policy and that of a policy maker are two different things. Institutional constraints may make a
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