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- The transferor and transferee enter into a legally binding agreement to sell and buy the shares.
- The transferor completes the instrument of transfer by entering all the particulars and signing the same.
-The transferor signs the relevant part of the document.
-In the case of a partial transfer of shares certification of the instrument of transfer by the company is necessary.
- Stamp duty on the transfer must be paid.
-The instrument of transfer and the share certificate must be lodged with the company for registration of the transfer.
- On registration of the transfer the share certificate is cancelled and another issued in the name of the transferee.
marto answered the question on February 7, 2019 at 08:00
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The company intends to issue shares to the public. Meshack seeks...(Solved)
Meshack was recently appointed an accountant of Economy Departmental Store, a public limited company.
The company intends to issue shares to the public. Meshack seeks your ad
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Advise Meshack.
Date posted: February 7, 2019. Answers (1)
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In relation to allotment of shares in a company, discuss the legal position in each of the following situations:
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Advise Sarah.
Date posted: February 7, 2019. Answers (1)
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Date posted: February 7, 2019. Answers (1)
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Abel and Boaz have been carrying out business as a partnership. They have both been employed on full time basis in the business and have shared profits and losses equally. Abel wished to bring his son David into the business and Boaz accepts the proposal.
They wish to convert the partnership into a private limited company, ABD Company Ltd., in which Abel and Boaz will each hold 40 percent of the shares and David will hold 20 per cent. All the three shareholders will be directors of the new private company.
(a) Advise the three shareholders of ABD Company Ltd. on the documents which they
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Date posted: February 7, 2019. Answers (1)
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Date posted: February 7, 2019. Answers (1)
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Date posted: February 7, 2019. Answers (1)
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Date posted: February 7, 2019. Answers (1)
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Date posted: February 7, 2019. Answers (1)
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The law requires that certain statutory books must be kept in the registered offices of the company.
Explain the contents and matters...(Solved)
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Explain the contents and matters relating to inspection of the following statutory books:
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(c) Register of directors' interests.
(d) Register of charges.
Date posted: February 7, 2019. Answers (1)
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Explain the instances when the veil of incorporation may be lifted
Date posted: February 7, 2019. Answers (1)
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The principle of corporate legal personality is an important and fundamental aspect of company law.
Discuss this statement citing relevant decided cases.(Solved)
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Discuss this statement citing relevant decided cases.
Date posted: February 7, 2019. Answers (1)
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Date posted: February 7, 2019. Answers (1)
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Date posted: February 7, 2019. Answers (1)
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Date posted: February 7, 2019. Answers (1)
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(a) Explain the category of persons to whom an auditor owes a duty of care in the preparation of his audit report.
...(Solved)
(a) Explain the category of persons to whom an auditor owes a duty of care in the preparation of his audit report.
(b) Enumerate the rights accorded to an auditor to enable him perform his duties as the auditor of a company.
(c) In Hedley Byrne V. Heller (1964) the court held that provided that it could be established that a special relationship existed between parties it was possible for a person to sue for having suffered a financial loss even though no contractual relationship existed between the parties.
Highlight the factors that should be established in order for a third party to successfully sue an auditor for professional negligence.
Date posted: February 7, 2019. Answers (1)
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(a) Outline the qualified minority rights of a member which can only be enforced by the joint efforts of a membership group as defined under the Companies Act.
(b) The Articles of X Company Ltd provide that every member is entitled to one vote for each of the first ten shares and thereafter to one vote for each additional ten shares. Jane owns one hundred shares. She transfers ten of her shares to her nine nominees to increase her voting powering general meetings. Joseph, who is the chairman at the general meeting, refuses to accept the votes of Jane‟s nominees.
Advise Jane on the validity of the Chairman‟s action and her right as a member.
Date posted: February 7, 2019. Answers (1)
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'The rule in the case of Ashbury Railway Carriage Vs. Riche (1875)stated that an act has not been authorized by the objects clause of a company's Memorandum of Association in ultra vires to the company and the members cannot ratify it.'
Discuss.
b) Explain the various ways in which persons intending to form a company may avoid
personal liability on contracts they make on behalf of the proposed company.
c) It has been held that the memorandum and Articles of Association of a company shall, when registered, bind the company and the members to the same extent as if the documents has been signed and sealed by each member and contained covenants an the part of each member to observe all the provisions of the memorandum and the articles.
Explain the effect of this provision on the relationship between shareholders and their company and between shareholders themselves.
Date posted: February 7, 2019. Answers (1)
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(a) The principle of corporate legal personality is an important and fundamental aspect of company law.
Discuss this statement citing relevant decided cases....(Solved)
(a) The principle of corporate legal personality is an important and fundamental aspect of company law.
Discuss this statement citing relevant decided cases.
(b) Ropoff Company Ltd., a private limited company, has been under inquiry on alleged fraudulent financial transactions. The officers of the company under suspicion have denied any association with the company.
At the inquiry it was suggested that the corporate veil be lifted and the realities of the company in question be looked into.
Explain the instances when the veil of incorporation may be l
Date posted: February 7, 2019. Answers (1)
- (a) Explain the rules that govern quorum and the exceptions thereof
(b) In relation to proxies, write brief notes on:
(i) General proxies.
(ii) Special proxies....(Solved)
(a) Explain the rules that govern quorum and the exceptions thereof
(b) In relation to proxies, write brief notes on:
(i) General proxies.
(ii) Special proxies.
Date posted: February 7, 2019. Answers (1)