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

"detriment" as consideration, "Detriment" as consideration  An example...

"Detriment" as consideration  An example of a 'detriment' that will legally suffice like the consideration for a promise is provided with the case of Carlill v. Carbolic Smoke

Business and company law, ali send an offer to bakar on 13/9/2010 by fax.on...

ali send an offer to bakar on 13/9/2010 by fax.on 14/9/2010 ali change his mind and revoke the offer by fax unfortunately bakar''s fax machine not working and ali call for bakar. b

Compulsory winding up, Compulsory winding up: At the hearing other cre...

Compulsory winding up: At the hearing other creditors of the company may oppose the petition.  If so, the court is likely to decide in favour of those to whom the larger amoun

Explain united nations general assembly, Explain United Nations General Ass...

Explain United Nations General Assembly A treaty may also be referred to as a Convention, Protocol, Agreement and Declaration. There are no legal reasons for using different na

Tort law assignment help: causation, The second factor which is necessary f...

The second factor which is necessary for a claimant to impose claim on other person is to have a cause for the action taken by him. Hence it is important to have a proper link betw

Explain the case clipperton island, Explain the Case Clipperton Island ...

Explain the Case Clipperton Island In Clipperton Island Case , an award was made in the arbitration which resolved a dispute between France and Mexico, in 1887, on the subjec

When was the concept of refugee expanded, When was concept of refugee expan...

When was concept of refugee expanded Refugee law encompasses international legal instruments including the following : The 1951 United Nations Convention relating to the Status

Fraudulent trading, Fraudulent Trading: Under s.323, if the court find...

Fraudulent Trading: Under s.323, if the court finds that the business of a company in liquidation has been carried on with intent to defraud creditors or for any fraudulent pu

Sudanese company, Both Sudan and the US are signatories to the "New York Co...

Both Sudan and the US are signatories to the "New York Convention."  A Sudanese company has won its case in a Sudanese arbitration panel.  The U.S. company has declined to pay this

Period within which the dismissal itself must be effected, QUESTION 1 O...

QUESTION 1 One of the main ingredients of a system of collective bargaining is the right to join and participate in the activities of a trade union. What is the extent of this

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