leather merchant who converted his business into a Limited Company as Solomon & Co. limited (the ‘company’). The company so formed consisted on Solomon‚ his wife and five of his children as members. The company purchased the business of Solomon for £39‚000; the purchase consideration was paid in terms of £10‚000 debentures conferring a charge over the company’s assets‚ £20‚000 in fully paid‚ £1 share each and the balance in cash. The company in less than one year ran into difficulties and liquidation
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of liability 4 1.1. Reasonable Care and Skill . 4 1.2. Fiduciary Law 5 1.3. Knowing Receipt‚ Inconsistent Dealing‚ and Assistance 6 1.4. Emerging Standard: Due Diligence‚ Suitability‚ Good Faith 7 2. Duty to advise and the liability for the advice given 8 2.1. Duty to advise 8‚ 9 2.2. Liability for advice given 10 Referencing 12 Introduction In this report I defined the duties and liabilities of a Banker under Advisory and Transactional liability in Banking Law. My
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capitalist market economy‚ companies are a familiar part of everyday life. Companies own supermarkets‚ supply water‚ gas‚ electricity and petroleum products we are depending on. They publish the newspapers and provide our Internet services. We deal with companies so often as purchasers and users of their products and services that the image ‘company’ brings to mind is usually of an organisation concerned with marketing and collecting payment for products which the company has made (or bought in) or
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premises. | OLA 1957 – ‘An occupier of premises owes a common law of duty of care to all his visitors’. The Law If a visitor goes into a ‘private’ area they may become a trespasser even if they have permission to be on the premises for a different reason. | The 3 Exceptions Children: When it comes to occupier’s liability there are some exceptions. The law on children says ‘ an occupier must be prepared for children
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liable. Nurses may also be liable if they failed to check on the activities of Mr. Jones for several hours. He may have been placed on suicide precautions‚ which means he would require constant supervision. Gerardi‚ D. (2007). Elopement: Spotlight case. Retrieved from
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advise him on the facts of the case and your opinion of their potential liability. Write a memo to him that states your view of whether the company is exposed to liability on all issues you feel are in play. Include in your memo any laws that apply and any precedent cases either for or against Teddy’s case that impact liability. Include your opinion of the "worst case" of damages the company may have to pay to Virginia. (Points : 30) Dear Sir‚ I believe that our company stands to lose a lot as a
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Share capital Introduction A public company can acquire funding by offering or inviting the public to subscribe to its securities (shares). A company limited by shares issues and allots shares to a shareholder in return for capital. This called share or equity capital. Capital structure Authorized Share Capital Meaning of authorized and issued capital: S18(1)(c) Company Act 1965: If the company is limited by shares‚ its memorandum must state the amount of share capital and its division into
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VI. Methodology VII. Case Study 1. Facts 2. Judgement * By the Trial Court * By the High Court * By the Supreme Court 3. Basis of Judgement 4. Case reference VIII. Sovereign Immunity 1. Journey of the Doctrine 1.1Pre Constitutional Era 1.2 Post Independence and Constitution of India IX. Sovereign Functions & Non-Sovereign Function X. Critically Analysis of the case 1. Vicarious liability 2. Negligence 3. Violation
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Doctrine: Limitations in Establishing Corporate Criminal Liability The identification doctrine is the traditional method by which companies are held liable under the principles of the common law. According to this theory‚ the solution for the problem of attributing the unlawful acts to a corporation for offences that require intention was to merge the identified individual with the corporation. For the purpose of establishing corporate liability‚ a company may be responsible for the wrongful acts of living
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contract who is of age of majority according to law to which he is subject‚ and who is of sound mind‚ and is not disqualified from contracting by any law to which he is subject.” It means that the following three categories of persons are not competent to contract. 1. A person who has not attained the age of majority‚ i.e.‚ one who is minor. 2. A person who is of unsound mind 3. A person who has been disqualified from contracting by some law. Although the above mentioned categories of
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