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!
Several rules for Fraudulent trading:
Various rules have been established to determine what is fraudulent trading:
(a) Only persons who take the decision to carry on the company's business in this way or play some active part are liable. An employee who is aware that the debts incurred may not be paid and who merely fails to inform the directors of the situation is not a "party" to carrying on business since it is not a decision or action on his part.
Case: RE MAIDSTONE BUILDING PROVISIONS (1971)
The secretary of the company also acted as financial adviser to the directors. The secretary was aware but did not tell the directors that in carrying on its business the company was incurring debts which it was not likely to pay. Proceedings were brought against the secretary for fraudulent trading.
Held:
As the secretary did not take the decision to continue trading he was not a "party" to fraudulent trading. In so far as he had failed to provide information and advice which it was his duty to give he might have been negligent but that was not an issue in these proceedings.
(b) "Carrying on business" can include a single transaction and also the mere payment of debts as distinct from making trading contracts.
QUESTION 1 (a) What are usually accepted principles of corporate governance. (b) What factors can lead to incrising corruption in the business environment? QUESTION 2
LEGISLATIVE OR PARLIAMENTARY CONTROL: (i) Parliamentary approval and (ii) Ministerial approval and (iii) Publication into the England Gazette and
Beneficial Service - Binding Contracts According to such, a contract relates service or apprenticeship is such binding on an infant - which mostly provided it is substantially
Name to end with the word "Limited": S.5(1)(a) provides that the word "limited" must be the last word of the name of a company which is to be limit
QUESTION 1 Arbitration has proved itself to be a valuable scheme in alternative dispute resolution of conflicts. Discuss the advantages and disadvantages of Arbitration as a su
Explain the first kind of treaty Under international law, treaties primarily serve three separate purposes, though any one treaty may perform more than one function. The first
QUESTION 1 The use made of decision-making bodies such as commissions, boards, tribunals and statutory bodies for the purpose of achieving celerity in public affairs opens the
Chartered Companies: A chartered company is formed when the Queen or King of England issues a charter, or "letters patent", to a group of people who intend to carry on a busin
What is hire purchase?
ASSETS IN THE POSSESSION OF CREDITORS: If the creditor has seized assets in the course of executing a judgement for debt against the company and at the commencement of the wi
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