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.
Are you searching Canadian business law assignment tutors for help in your college and university assignments? Do you need expert’s assistance in Canadian law assignments? We at w
A Black Firefighter alleges that each time he is transferred from one fire station to another, he must take his bed with him, on orders of the fire chief. The chief defends on the
Explain the term - Legislature - Legislature Trade off These interactions can be found in the literature of public choice and political science, and concerns to the coalition f
Types of transaction - reconstructions: It will be seen that methods (a) and (b) relate to specific types of transaction. They can only be used in those transactions. The fl
QUESTION 1 Court control of how executive power is exercised is what administrative law is all about. Who are the persons under scrutiny in this area of the law? In what manner
QUESTION Chain of custody in evidence collection is a very important document when it comes to presenting a computer forensic case in the court of law i. Explain the term c
Q. Can you describe International law? International law comprises of a set of rules that govern the international relations between sovereign states. It can be classified into
Article 8 - State Responsibilty Article 8. Act of person or group of persons are presumed to be acting on the instructions of a state therefore even in such a situation the sta
Explain Territorial principle of criminal jurisdiction The territorial principle provides that the courts of the State where a crime is committed may exercise jurisdiction over
QUESTION (a) Define the term 'contract' and explain the basic elements which constitute a valid and legally enforceable contract under the English Law (b) What do you unders
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