Law LEARNING OUTCOMES By the end of this topic‚ you should be able to: 1. 2. 3. 4. 5. List the types of business entities and its distinctions; Identify the various forms of companies and the changing of status; Discuss the doctrine of separate legal personality and lifting of the veil of incorporation; Describe the agency principles related to company law; and Evaluate the duties of a promoter and the pre-incorporation contracts. X INTRODUCTION The first topic of this module introduces you
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assistance of Nancy‚ a venture capitalist to fund his business. Bill accepted Nancy’s terms and as part of the agreement Nancy wanted 12% interest on the loan to Bill or 12% of the business profits‚ whichever is higher. Without any paperwork filed to the Secretary of State to form an LLP‚ based on the agreement alone the undertaking above is expected to be treated as a general partnership. General Partnerships: General Partnerships are formed by two or more persons carrying on a business for profit
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IN THE HIGH COURT FOR THE STATE OF PUNJAB AND HARYANA AT CHANDIGARH CRL.M NO._____ OF 2010 IN RE:- NAVJOT SINGH & ANR …PETITIONER VERSUS STATE OF PUNJAB & ORS …RESPONDENTS INDEX |Sr. No. |Particulars |Dated |Pages |Court fee | |1. |Exemption Application U/s 482 Cr.P.C. |08.12.2010 |1-2 | | |2. |Affidavit
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shapes English law and how Statutory Interpretation contributes to such a process. The English legal system is a common law system‚ where the decisions of sitting judges in a case have future influence over future courts. Judicial Precedent binds judges by past decisions of higher courts‚ stare decisis‚ and they abide by them. This could be said to create a consistent and fair system i.e. a body of legal principles. Statutory Interpretation is how judges interpret/understand statutes‚ i.e. legislation
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limited amount of capital for establish and operating a business. His risk bearing capacity is ‘also limited. In the present age of competition and technological advancement‚ the single proprietor has to seek the aid of other persons‚ managers‚ secretaries‚ advisers‚ consultants etc. He now is one man among many‚ though perhaps he is the most important
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DATA ACCESS (INDIA) LIMITED (N RANGACHARI) V/S BHARAT SANCHAR NIGAM LIMITED Date of Decision: 19 April 2007 Negotiable Instruments Act‚ 1881 - Offences by Companies - Dishonour of cheque for insufficiency‚ etc.‚ of funds in the account - Cognizance of offences Acts Referred: Code of Criminal Procedure‚ 1973 Sec 482 Companies Act‚ 1956 Sec 291 Negotiable Instruments Act‚ 1881 Sec 141‚ Sec 141(2)‚ Sec 138‚ Sec 142 [3] On behalf of the Data Access (India) Limited‚ two cheques were issued to the
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INTRODUCTION A Shareholders’ Agreement is an agreement amongst the shareholders of a company. When a company is created‚ its founding shareholders determine how a company will be owned and managed. The Shareholders’ Agreement establishes rules to govern the relationship between two or more owners of a company. Without a shareholders’ agreement in place‚ the rules that apply are in the applicable corporate statute. The shareholders’ agreement creates an overlay that addresses issues created or left
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The M’Naghten Rule‚ formulated in 1843‚ defines a person as insane if at the time of the act she had such a disease of the mind that she did not know what she was doing. M’Naghten was a Scottish woodcutter who murdered the secretary to the Prime Minister‚ Robert Peel. 9 witnesses testified that he was insane. The M’Naghten rule has been adapted by 17 states in some form. John Hinckley shot President Reagan. Pled and found NGRI‚ he was acquitted of 13 murder‚ assault‚ and weapons
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Salomon v A Salomon & Co. Ltd had a lasting influence in corporation law. It is often credited with the principle of separate legal entity of the corporation distinct from the members. Though there is no doubt that the Salomon case had play a significant role in company law‚ the decision in this case was hardly the origin of the separate legal entity principle. The legal entity of beings other than the human has long been recognized prior to 1897‚ in which the Salomon case was decided. The jurisprudence
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United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea UNITED NATIONS UNITED NATIONS COMMISSION ON INTERNATIONAL TRADE LAW United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea UNITED NATIONS Vienna‚ 2009 UNITED NATIONS PUBLICATION Sales No. E.09.V.9 ISBN 978-92-1-133672-6 Contents Resolution adopted by the General Assembly . . . . . . . . . . . . . . . . . .
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