QUESTION 1 a. Define a promoter of a company. Explain and illustrate with decided cases his legal position in relation to a company. Though the certificate of incorporation is conclusive for purposes of incorporation‚ using decided cases‚ outline circumstances under which it could be withdrawn.(10marks) ANSWER Definition; A promoter is one who undertakes to form a company with reference to a given project and to set it going and who takes the necessary step to accomplish that purpose - A promoter
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Australian contemporary artist Gordon Bennett’s acrylic painting Camouflage #7‚ references the war in Iraq and issues of secrecy‚ depicting the late Iraqi dictator Saddam Hussein. Evident in Bennet’s incorporation of appropriation art in his creative method‚ ‘remix culture’ enables artists to open up and re-define the way language and images construct identity and history. An interdisciplinary art practice consisting of painting‚ print‚ photography‚ installation and performance reflects how Bennett
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Now we turn to discuss the case study. I hope everyone have already done it. The main issue of the case study is that Chu has been the New South Wales (NSW) Operations Manager for Computers Pty Ltd. Due to Chu’s senior position knows the identity and requirements of the company’s major clients. In March 2007‚ Chu decides to retire and agrees to not compete against the company in NSW for two years. However in April 2007‚ Systems Pty Ltd actively solicits business from the customers of Computers Pty
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Shue Yan University Company Law (LAW 331) Topic 1: Corporate Personality Reading: Law of Companies in Hong Kong – 3.001-3.072 Overview Company is a legal person different from its members Doctrine of separate legal entity of a company constitutes one of the major conceptual foundations of company law. Under this doctrine‚ the company is a different person altogether from the members of the company. The company itself is a legal person. As a separate legal entity separate from its members
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that enticed the customers away not Horne personally. The Court of Appeal allowed the enforcement of the clause in contract against the company. They did this because Horne had used the company as a "mere cloak or sham"‚ the court lifted the corporate veil and allowed liability to be imposed on the reasons of fraud‚ Horne used a separate legal personality to carry out an action that was personally prohibited for him to
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to the veil of incorporation; that a registered company is a legal person separate from its members . By separating the management from the investment‚ a company enables the investing public to have a share in the profits without being involved in management of business‚ In the meanwhile‚ a company hires the best of employees who handle the whole management of the company. “The company is at law a different person altogether from subscribers
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law According to the statute law‚ it is likely that the subsidiary company (Asset Pty Ltd) would not write-off the loan to the parent company (Buildco Ltd) as a debt and could not claim a tax deduction for that debt. After lifting the corporation veil by making the holding company liable for the debts of its subsidiary where there are reasonable grounds for suspecting than the subsidiary is insolvent at the time of incurring the debt. In this present case‚ due to the failed project which is funded
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2013. Gilford Motor Co Ltd v Horne. [ONLINE] Available at:http://www.answers.com/Q/Gilford_Motor_Co_Ltd_v_Horne. [Accessed 05 November 14]. Smith‚ Stone & Knight Ltd v Birmingham Corp (1939) The one of the issues for the court to lift the veil of incorporation is agency issue.This problem is to solve disputes between shareholders and the agent.In the case of an example‚ the problem of institutional Smith‚ Stone Knight V Birmingham companies .In the case of Smith‚ Stone & Knight v. Birmingham Corporation
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proved that he did not have to indemnify the company in respect of its debts‚ as it had a separate legal personality. | "The company is at law a different person altogether from the subscribers to the memorandum; and‚ though it may be that after incorporation the business is precisely the same as it was before‚ and the same persons are managers‚ and the same hands receive the profits‚ the company is not in law the agent of the subscribers or trustee for them. Nor are the subscribers as members liable
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pilots hired by F receive 20% more pay and entitlements for the same work than pilots of J. The issue here is that are the original contractual entitlements received at F applicable to the pilots of J? Firstly it must be emphasised that through incorporation J is a separate legal entity from its founder‚ shareholders and directors as demonstrated in the landmark case of Salomon v Salomon & Co Ltd . Lord Halsbury LC made the judgement that once a company is legally incorporated it must be treated as
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