Company law tutorial question year 3 Semester1. 1."Under the ordinary rules of law‚ a present company and a subsidiary company‚ even a 100 per cent subsidiary company‚ are distinct legal entities and in the absence of an agency contract between the two companies‚ one cannot be said to be the agent of the other. This seems to be clearly established by the rule in Salomon v. A. Salomon &
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Definition - A company is an association of persons‚ existing as a separate legal entity from the owners (or members) - Legal Definition o S4(1) Companies Act (CA) 1965: corporation is any body corporate wherever formed or incorporated └ Include – any company or foreign company └ Exclude -: Public authorities‚ Instrumentalities or agencies of the Government of Malaysia or of any State or body corporate not incorporated for commercial purposes and declared as such by notice of the Minister
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information: s 157(2) Financial assistance to director-related companies: s163 Directors remuneration and benefits: s168‚169&172 Interested persons transactions: SGX Listing Manual Section 156 disclosures: s156(1)&(5) Duty to retain discretions Duty to avoid conflicts of interests Duty to use powers for a proper purpose Duty to act in good faith in the interests of the company Liability for fraudulent trading: s 340(1) General law Duties Loyalty and good faith THE DUTIES Care and
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a corporate charter or by law[2]. It means an act which is beyond the powers[3]. 3. Definition: “The term ultra vires simply means beyond powers or lack of power. An act is said to be ultra vires‚ when it is in excess of the power of the person or authority doing it[4].” 1.3.1 As per law dealing with companies: The term ultra vires in connection with law regarding companies is defined in the following way; “A company incorporated under the Companies Act had legal personality
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Q1. At the beginning‚ in this case‚ we may identify two issues needed to be discussed. The first one is whether Kwan or Lau&Kwan Co. would be liable for the debt incurred by Lau. The second issue is whether Lau&Kwan Co. has established a place of business in Hong Kong. In the light of s.7 of the Partnership Ordinance‚ “acts of every partner‚ who does any act for carrying on in the usual way business of the kind carried on by the firm‚ bind the firm and his partners‚ unless the partner
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(10 points each) 1. The Blowout Company is a German corporation and manufacturer of the California Custom tire‚ a tire that is compatible with Harley Davidson motorcycles manufactured in the United States. Tofu Granola‚ a resident of Santa Cruz‚ California‚ purchased a pair of California Custom tires for his Harley. Granola purchased the tires from Goodstone Tires‚ Inc.‚ a California corporation‚ at its store in Half Moon Bay‚ California. The Blowout Company and Goodstone provided assistance
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Employment-at-Will Doctrine John Simpson Professor Steve Harris Law‚ Ethics and Corporate Governance November 6‚ 2014 1. Summarize the employment-at-will doctrine discussed in the text and then evaluate three (3) of the six (6) scenarios described by determining: a. Whether you can legally fire the employee; include an assessment of any pertinent exceptions to the employment-at-will doctrine. b. The primary action(s) that you should take to limit liability and impact on operations; specify
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City University of Hong Kong School of Law LW3902 The Law Relating to Companies Mid-Semester Coursework Assignment Semester B‚ 2012/2013 Instructions to Students: 1. The assignment is worth 50% of the overall mark for this course. The total word limit is 1‚500 words‚ excluding footnotes and bibliography. You must do a word count and indicate the number of words on the cover page. If a paper exceeds the allowable word limit‚ only the first 1‚500 words will be read and marked. 2. Your answers must
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1. (A) : Agent: An agent stands in a fiduciary relationship with the principal. According to Doolan (1981)‚ an agent must not allow a situation to occur duty to the principal conflicts with personal interest and he/she must act in good faith also. As has been argued‚ Doolan (1981) states that an agent is authorized by the principal to perform certain acts‚ for and on behlaf of the principal. According to Doolan (1981)‚ an agent is never required to perform an illegal act. The agent is not liable
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Mount Crest University College Course: Company Law Intake 2 Weekend Assignment Naa Amerley Quaye (B12010042) QUES: Yentua Company Ltd. was incorporated on 10th June‚ 2010. Its objects are construction and civil engineering works. It now wants to obtain a certificate from the Registrar in order to start working. What information should it present to the Registrar before it can be issued with this certificate? There are legal rules governing the commencement
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