Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Pre-incorporation Contracts:
A pre-incorporated contract is an agreement which is entered into, usually by a promoter or promoters, on behalf of a company at a time when the company's formation has not been completed by its registration. A few cases have been contested in English courts regarding the effect of such agreements. The following rules were enunciated by the judges in the course of deciding the said cases:
(a) If the agreement is a written one and it is apparent from the words used therein that the promoters were contracting as individuals, they will be held personally liable under the contract. This will be so because no oral testimony will be admissible in evidence to rebut the contents of the written document: Kelner v Baxter (23).
In other words, they will not be allowed to say that they were contracting for the company. Regarding the case of Kelner v Baxter it should be noted that, according to the written document that the parties signed, the offer was made to, and was accepted by, the promoters personally. They were therefore made personally liable on the contract. This was clarified by Lord Goddard in the later case of Newborne v Sensolid Ltd (24) when he said that, in Kelner v Baxter, "the contract showed that it (i.e. the wine) was agreed to be sold to certain men who were the proposed directors of a company which was coming into existence. They agreed to buy".
LEGISLATIVE OR PARLIAMENTARY CONTROL: (i) Parliamentary approval and (ii) Ministerial approval and (iii) Publication into the England Gazette and
Betty and Veronica always fell in love with the same men. Veronica got very jealous of Betty for stealing Archie away from her and decided to start sending her anonymous
Distribution of Surplus Assets: If the debts are paid in full the liquidator should apply what remains in repayment of capital paid on shares and then distribute any residue t
Following are different time zones in which the issue of Jammu & Kashmir could be divided: 1. 1947: when the dispute came up 2. 1948-1957: when the matter goes to UN, the su
Alan and Brian wished to obtain tickets to the Football Cup Final at Hambley Park, but the owners of the stadium, Stein Ltd, did not wish to allow Alan and Brian to attend the mat
QUESTION John, an employee, at Mauricia Travel Ltd, wishes to set up a trade union. He has been told that trade unions are very beneficial to employees and if trade unions and
Define the term multiple decision makers - Strategic Voting The following lines, from Austen-Smiths' (1986) clarify the position quite succinently. He writes, 'so in elections
Insanity and Rejection - Termination of an Offer Insanity Furthermore the unsoundness of mind about either party before acceptance terminates the offer. Hence the offe
Question1 Describe the term banking and what are the permitted businesses for a banking company as per BR Act 1949 Question2 When is a negotiable instrument considered as
Good Faith - meetings and resolutions: The directors must act in good faith when calling a meeting,. Thus, in Cannon v Tasks, the directors called the annual general meeting
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd