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.
State the International policy coordination In an international context governments can, in theory, offset adverse spillover effects originating from other nations. With fewer
Termination of Partnership The Articles of Partnership will contain like a rule or be the regulations with regard for the termination of the partnership. Almost in the absence o
Question 1: (a) According to Archie Carroll what are the four interrelated aspects of corporate social responsibility? Use examples from the Mauritian context to illustrate you
Remuneration: Article 108 provides that "a managing director shall receive such remuneration (whether by way of salary plus commission or may participation in earn
Question 1: Public Private Partnership (PPP) means investment through private sector participation by a contractual arrangement between a procuring entity and a private sector
Change of Name: A company's name may be changed voluntarily or compulsorily (a) Voluntary Change A company's name may be changed voluntarily: i. Under s.2.1 if a sp
I have a contract for employment, its is for a CTO position, giving me equity stake in the company, I do not agree with the offer and I have a counter offer, I need a experts opini
Trade Unions - Unincorporated Associations Therefore these are registered under S.11 of the Trade Unions Act 1952 into the primary object of regulating the relations between e
Doctrine of "Constructive Notice": The doctrine of "constructive notice" is a rule of company law to the effect that a person transacting business with a company is taken to
Question 1: Discuss the legal relationship between a bank and its customer with reference to the responsibilities of the parties towards each other. Question 2: This qu
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