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Liability of auditors:
It would cover any act of negligence - any actionable wrong by an officer of a company which did not involve any misapplication of the assets of the company. Moreover the object of this section of the Act is to enable the liquidator to recover any assets of the company improperly dealt with by any officer of the company, and must be interpreted bearing which object in mind. It doubtless covers any breach of duty by an officer of the company in his capacity of officer resulting in any improper misapplication of the assets or property of the company........ It is the duty of an auditor to bring to bear on the work he has to perform such skill, care, and caution that a reasonably competent, careful, and cautious auditor would utilize. What is reasonable skill there, care and caution must depend on the particular circumstances of every each case. Hence an auditor is not bound to be a inspection man, or, as was said like, to approach his work by suspicion or with a foregone conclusion that there is something wrong. He is a watchdog, but not a blood bound. He is justified in trusting, so tried servants of the company in whom confidence is placed through the company. He is entitled to assume so that they are honest, and so rely upon their representations, just provided there, he takes reasonable care. Whether there is anything calculated to excite suspicion than he should probe it to the bottom; therefore in the absence of anything like, he is only bound to be reasonably careful and cautious. It is not the duty of an auditor to take stock; he is not a stock expert:, hence there are many matters in respect of that like he must rely on the honesty and accuracy of others. He does not guarantee the innovation of all frauds..... The duties of auditors must not be too onerous to rendered. Therefore their work is responsible and laborious there, and the remuneration to moderate.
Relationship of Partners Inter Se Whether various terms are in utilize to denote the different specification of partners. Then the most central of these terms are like: (
Termination of an Offer - Revocation Such offer is "revoked" whether the offeror changes his thinking and withdraws it as for expressly or impliedly. However to be valid suc
Give detail explanation of Credibility problem There are indications that such credibility problem stems from a tension between the goal of encouraging innovation and investme
Deadlock in the management: The company existed only to "work a particular patent" and as it could not do so it should be wound up. But if there are two or more alternative
Perpetual Succession: According to the Concise Oxford Dictionary, "perpetual" means, inter alia, "applicable, valid, for ever or for indefinite time " wh
Form of reconstruction: Where one company transfers its undertaking (and assets) to another company in exchange for shares to be alloted direct or distributed to the members o
I don''t know how to make a maxim. And my case is
American Courts, though vested with considerable Constitutional authority, are limited in power by the other branches of the government, the States to some extent, and the people.
What is the difference between an express term and an implied term? Provide me with an example of each.
Compulsory Change: Section 20(2) of the Act provides that within six months of registration with a particular name the registrar may direct a change in name if in his opinion
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