-Corporation sole: This is legally constituted office distinct from the holder and canonly be held by one person at a time after which he is succeeded by another. The office is a body corporate with perpetual succession, capacity to contract, sue or be sued and own property e.g. Office of the Permanent Secretary to the Treasury, Office of the Public Trustee.
-Corporation aggregate: This is a legal entity formed by two or more persons for a
lawful purpose and whose membership consists of at least two persons. It has independent legal existence, capacity to contract, sue or be sued and perpetual succession e.g. private and public companies.
marto answered the question on February 6, 2019 at 08:25
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Highlight the circumstances under which a person may cease to be a member of a
company.
(Solved)
Highlight the circumstances under which a person may cease to be a member of a
company.
Date posted:
February 6, 2019
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Answers (1)
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Birds Limited has three directors: Peacock, Sparrow and Vulture. Explain the legal implication of each of the following situations: a) Vultures son has recently...
(Solved)
Birds Limited has three directors: Peacock, Sparrow and Vulture. Explain the legal implication of each of the following situations:
a) Vulture's son has recently come of age and vulture wishes to appoint him a director of
the company.
b) The company is considering the purchase of a substantial quantity of goods from fly ltd., in which sparrow has a large shareholding through he is not a director peacock and vulture are unaware of sparrow's interest in fly ltd.
c) Because of adverse publicity about peacock's private life, vulture and sparrow wish to
remove him as a director, since he refuses to resign.
d) In view of the adverse publicity, vulture and sparrow decide to exclude peacock from participation in the company's affairs.
e) The directors are advised by wise & co., the company's auditors, that there is no possibility of the company trading at a profit in the foreseeable future and no reasonable prospect of its paying its debts
Date posted:
February 6, 2019
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Answers (1)
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To what extent does the doctrine of constructive notice operate negatively?
(Solved)
To what extent does the doctrine of constructive notice operate negatively?
Date posted:
February 6, 2019
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Answers (1)
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State the legal consequences of a winding up order made against a company.
(Solved)
State the legal consequences of a winding up order made against a company.
Date posted:
February 6, 2019
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Answers (1)
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Describe the circumstance under which a company may be wound up on the ground that it is "just and equitable" to do so.
(Solved)
Describe the circumstance under which a company may be wound up on the ground that it is "just and equitable" to do so.
Date posted:
February 6, 2019
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Answers (1)
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Outline the legal rules that govern the appointment of an Administrative Receiver by a holder of a floating charge.
(Solved)
Outline the legal rules that govern the appointment of an Administrative Receiver by a holder of a floating charge.
Date posted:
February 6, 2019
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Answers (1)
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Distinguish between a Fixed Charge and a Floating Charge
(Solved)
Distinguish between a Fixed Charge and a Floating Charge
Date posted:
February 6, 2019
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Answers (1)
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Describe the duties of an Auditor as set out under the Companies Act.
(Solved)
Describe the duties of an Auditor as set out under the Companies Act.
Date posted:
February 5, 2019
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Answers (1)
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Highlight the requirements to be met before a notice of meeting served on members can be held to be valid.
(Solved)
Highlight the requirements to be met before a notice of meeting served on members can be held to be valid.
Date posted:
February 5, 2019
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Answers (1)
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The rule in Foss v Harbottle establishes the principle that where a wrong is done to the company, the proper plaintiff is the company itself....
(Solved)
The rule in Foss v Harbottle establishes the principle that where a wrong is done to the company, the proper plaintiff is the company itself. However, where the wrong is done by the company directors, it may be impossible for the company to sue. In such a case, a derivate action may be the only option.
a) Explain what is meant by “derivative action”.
b) Describe the conditions that must be satisfied before a derivative suit can be instituted
Date posted:
February 5, 2019
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Answers (1)
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Define the term "prospectus" and explain the circumstances under which a company may issue a prospectus
(Solved)
Define the term "prospectus" and explain the circumstances under which a company may issue a prospectus.
Date posted:
February 5, 2019
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Answers (1)
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Explain the Statutory and Common Law Rules that govern raising and maintenance of share capital of a company.
(Solved)
Explain the Statutory and Common Law Rules that govern raising and maintenance of share capital of a company.
Date posted:
February 5, 2019
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Answers (1)
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Wafula, one of the Directors of Hopeful Co. Ltd is unsure of his duty of care and skill as a director of the company....
(Solved)
Wafula, one of the Directors of Hopeful Co. Ltd is unsure of his duty of care and skill as a director of the company. He seeks your advice on this. Advise him.
Date posted:
February 5, 2019
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Answers (1)
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In relation to company law describe the common law duties of a Promoter.
(Solved)
In relation to company law describe the common law duties of a Promoter.
Date posted:
February 5, 2019
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Answers (1)
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In relation to company law,discuss the rules that govern pre-incorporation contracts.
(Solved)
In relation to company law,discuss the rules that govern pre-incorporation contracts.
Date posted:
February 5, 2019
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Answers (1)