Tag: consumer

Consumer & Industrial Regulation And Legal Data

The Income Tax Act also acknowledges company as a separate authorized entity. A member can’t declare any ownership rights over the corporate either single-handedly or collectively. The properties of the corporate can solely be used for the development, betterment, maintenance, and welfare of the corporate and can’t be used for personal advantages of the shareholders. A firm is perceived to be a distinct legal entity and one that doesn’t rely upon its members. The cash credited by the collectors of the corporate could be recovered solely from the corporate and the properties owned by the company. It has to behave by way of a board of shareholders elected or chosen by the members of the company.

Every member of those firms promises to pay a fixed sum of money within the event of liquidation of the company. The legal responsibility of the members is limited by the worth of the … Read More

Consumer & Commercial Law And Authorized Info

Free Civil Rights Resources

Liquidation means turning fastened property into liquid assets, specifically into cash. Thus an owner selling his or her business for cash as a going concern is technically liquidating it—but in ordinary parlance the time period is utilized solely to a scenario the place a enterprise is closed and all of its assets are sold.

law and legal company

In context of an organization having a share capital, by the requisitionists who represent both a serious worth of the paid up share capital or not less than one tenth of the corporate’s total share capital. The appointment of shares doesn’t affect the rights of a member to make requisitions or vote at a gathering. Holding 10% of voting powers of the members in case the corporate has no capital. Holding at least 10% of the company’s paid up share capital and having the best to vote on the context of the … Read More

Consumer & Commercial Law And Authorized Data

The courtroom held that in a state of affairs where a party is aware of to whom he needs to refer, however by mistake attaches the mistaken name to that person, the error may be corrected as a matter of construction of the contract. In this case, the entity ‘Climate Change Group Ltd’ was named within the contract, but it was a dormant firm. It was held that neither party had directed its thoughts as to the question of which individual firm within the group should be the contracting entity, and therefore there was a mistake and the contract must be rectified accordingly. Receive our weekly newsletter with the most recent lawsuit news and legal information. Many a authorized recruiter have even left practicing law and have joined legal recruitment full time, as a result of they like talking to their fellow attorneys concerning their careers. As a legal recruiter, … Read More