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Undischarged Bankrupts:
S.188 provides that if an undischarged bankrupt acts as director of any company without leave of the court he shall be liable to imprisonment for a term not exceeding two years or to a fine not exceeding Shs.10,000/=, or both.
5. S.189 : Fraudulent Persons
S.189(1) empowers the court to make an order restraining a person from being appointed, or acting, as a company's director for a period not exceeding five years if-
i. The person is convicted of any offence in connection with the promotion, formation or management of a company: or
ii. In the course of a winding up, it appears that the person has been guilty of fraudulent trading (under s.323) or has otherwise been guilty, whereas an officer of the company, of any fraud or breach of duty to the company.
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Distribution of Assets A general rule the Articles of Partnership contains complete regulations like to the rights of partners in such an dissolution. Whether in the absence
QUESTION (a) The new Guideline on Corporate Governance relates to the processes and structures that should be put in place in order to direct and manage the business and affair
RULE IN FOSS v HARBOTTLE: What has come to be recognized in company law as "the rule in Foss v Harbottle" is the decision of Vice-Chancellor Wigram in the case of Foss v Harb
Liability by Estoppel Anyone who presents himself or permits himself for be represented, further by words, conduct or writing as the partner about another person like persons
STATUTORY INTERPRETATION: Conversely the precise connotation of a law written in an Act may cause a legal dispute. So this is so because, even though the law is written and c
Purchase of Shares - Voidable Contracts However an infant who applies to is allotted, a company's shares becomes a member to the company under S.28 (2) for the Companies Act f
Question 1 It is significant for any person to know law as ignorance of law is no excuse. Modern USA law has been derived from some sources. Describe the primary and secondary sou
1. Maryland is one of a few states in which contributory negligence is a complete defense, barring the plaintiff from any recovery. What is contributory negligence? How does it com
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