Payment to promoters, Business Law and Ethics

Assignment Help:

Payment to Promoters:

  A promoter has no legal right against the company he promotes. The main reason is that the company did not ask him to promote it, and because the company could not make a valid contract with him before its incorporation.

In the case of companies which have adopted Table A,  Article 80 empowers the directors to pay promoters their promotion expenses. It is however a power given to the directors and confers no legal rights on the promoter.


Related Discussions:- Payment to promoters

Online exam in Business Law, #questonline exam of business law about 20 qes...

#questonline exam of business law about 20 qestions ( T and F , MC, and short answers ) The exam will open just for two hours The exam will start half of hour from now >> can yo

Lord coleridge - judicial elucidation of acts, lord Coleridge - Judicial el...

lord Coleridge - Judicial elucidation of acts: However lord Coleridge stated in Rv PETERS  as like "I am quite aware which dictionaries are not to be taken as authoritative ex

Legislation and legislative functions, Question : This is an extract of...

Question : This is an extract of the Mauritian Patents, Industrial Design and Trademarks Act 2002. 12. Patentable inventions (1) An invention shall be patentable under

Statutory report - meetings and resolutions, Statutory report - meetings an...

Statutory report - meetings and resolutions: Contents of the statutory report.  Section 130(3) provides that the statutory report shall be certified by not less than two direc

Functions of attorney general, Functions of Attorney general W...

Functions of Attorney general Whereas under sec 26(2) the Attorney General is the principal legal adviser for government of US And whereas he occupies a ministeria

Commitment of agent - agency law, Commitment of Agent - Agency Law Howev...

Commitment of Agent - Agency Law However responsibilities of an agent for the principal are: as; (a) Care and skill However to exercise due diligence in such performance of hi

Necessity - law of agency and partnership, Necessity - Law of Agency an...

Necessity - Law of Agency and Partnership Therefore an agency of necessity may subsist either domestic or commercial: Commercial Agency of Necessity: Although

Qualification shares, Qualification Shares: S.183(1) provides that it ...

Qualification Shares: S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who i

Lapse of time - termination of an offer, Lapse of time - Termination of an ...

Lapse of time - Termination of an Offer Therefore offer of "lapses" that i.e. comes for an end robotically through operation about law whenever like: First is not

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