Function of the court, Business Law and Ethics

Assignment Help:

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.


Related Discussions:- Function of the court

Extraordinary universal meetings, Extraordinary Universal Meetings: S....

Extraordinary Universal Meetings: S.132(1) provides for the convening of "extraordinary" general meeting but does not define it.  Neither is the word "extraordinary" defined i

Variation of class rights, Variation of class rights: It is only neces...

Variation of class rights: It is only necessary to follow the variation of class rights procedure (and a dissenting minority can only apply to the court for cancellation)  if

Illustration of rules relating to consideration, Illustrtaion of Rules rela...

Illustrtaion of Rules relating to consideration Foakes v Beer (1884) Actually On the date 11th of August, 1875 Mrs Beer wrapped judgment next to Dr. Foakes for £2,077 1

The public procurement regulations 2008, QUESTION 1 (a) Section 45(10) ...

QUESTION 1 (a) Section 45(10) provides for remedies that the Independent Review Panel may recommend if it finds merit in an application for review. State three of those remedie

Explain the first kind of treaty, Explain the first kind of treaty Und...

Explain the first kind of treaty Under international law, treaties primarily serve three separate purposes, though any one treaty may perform more than one function. The first

Usual business at an annual general meeting, Usual business at an annual ge...

Usual business at an annual general meeting: The registrar is not bound to call or direct the calling of the meeting but, in the event of his refusing to do so, the aggrieved

Determine in detail about the money market, Determine in detail about the m...

Determine in detail about the money market Prior to the change in monetary policy both countries are assumed to be in equilibrium at point A in both of these diagrams. Only at

State the advantage of the information on the legislature, Advantage of the...

Advantage of the information on the legislature The main result was that voters take advantage of the information on the legislature - executive trade-offs in policy process. W

Contracts in restraint of trade, Contracts in Restraint of Trade This ...

Contracts in Restraint of Trade This is a contract through which a person voluntarily or unwillingly restricts his future liberty to carry at his trader business or profession

State article 3 of air and outer space law, State Article 3 of air and oute...

State Article 3 of air and outer space law Article 3 refers to the fact that the Convention would be applicable to the civil aircraft only and not to the state aircraft. Also,

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