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.
i want to know the complete history of business.
Can general jurisdiction be obtained? Explain why/why not. The Company has paid for three (3) trips for Patty to attend Prop 65 conferences in CA. You discover that she did no
APPLIED LAWS: However section 2 of the Interpretation and General Provisions Act specified like an "applied law" as:; (a) here an Act of the legislature of another countr
International Peace and security Pacific settlement of disputes means to resolve disputes to avoid threats to International Peace and security so that such disputes do not beco
What is Codifying treaty Codifying treaty, meaning whereby, certain existing customary laws are codified in order to develop international law and make it binding between the s
Ratified - pre-incorporation contract: If the agreement is a written one and it shows that the proposed company was the contracting party the promoters will not be allowed to
Jurisdiction - High Court Whether under Section 60 of the constitution states in which the High Court shall have 'unlimited original jurisdiction in civil and the criminal mat
Question : Public Relations units in organizations are generally considered as expense centres, as only the input and expenditures can be measured adequately. Therefore, to sec
how do i answer a problem question in law about the law of contract
Nationality of criminal jurisdiction Nationality is the legal concept which provides a link between a State and persons living within that State. It determines the rights and o
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