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Prospectus Issue And Statutory Provisions:
A company's shares are legally regarded as goods. Consequently, the common law rule known as "caveat emptor" applied to their sale. In particular, the company as a seller was not bound to say anything to potential buyers which would enable them to assess the risks involved. Buyers were therefore left without a legal remedy if they bought shares which they would not have bought if the relevant material facts had been disclosed by the company's agents. In an attempt to remedy this situation the Companies Act incorporated a number of statutory provisions which must be complied with.
CREDITORS' VOLUNTARY WINDING UP: If no declaration of solvency is made and delivered to the registrar, the liquidation process is a creditors' voluntary winding up even if i
Types of Contract - Law of Contract However common law of US relating to the contract classifies contracts with the following categories as; Specialty Contra
Correspond With Description - Terms Used In Contract With S.15 provides that, where goods are sold through description whether is an implied matter that the goods correspond w
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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
Calls On Contributories: Every person who is a member of the company at the commencement of winding up and every past member is in princi
As a soon-to-be media practitioner, you will encounter many legal issues in the media industry. In this assignment, you are required to examine one main legal issue that media prac
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