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.
United Nations Convention on the Law of the Sea The rights over the sea were extended by the United Nations Convention on the Law of the Sea (UNCLOS) adopted in 1982. The UNCLO
Explain UNSC Resolution 1624 and when it is passed The most-recent such resolution is UNSC Resolution 1624 passed in the year 2005. It states: "1. Calls upon all States to
Q. International law is a law or not? It is debatable whether international law is a law or not. Law is defined as rules established by a governing authority to institute and m
What is the Stability of the EMU banking sector Low currency risk, external balance and the stability of the EMU banking sector and financial markets are club goods whose benef
Question 1: "Le Coco" is a well known hotel located on the north coast of Mauritius. Mr. B, a client of "Le Coco" hotel, was injured after a short heated argument with another
Question 1: (a) What do you understand by the term Logistics Management? (b) What are the three types of costing which come under storage? (c) Explain the role of Public
Explain United Nations General Assembly A treaty may also be referred to as a Convention, Protocol, Agreement and Declaration. There are no legal reasons for using different na
Legal Status: A promoter is not an agent of the company he promotes. However, the English courts have held that he stands in a fiduciary relationship to the company he promo
Fran is a 68 year old female patient with a history of diabetes. Fran separated from her husband, Derek, 3 years ago (although they are not divorced) and over the past few years t
Implementation of the international law This further leads to the issue of implementation of the international law. There are certain ways through which the international law c
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