What is meant by Forfeiture of share?
When the shareholder fails to pay the amount due on call, the directors may, if so authorized by the articles take back his shares. This...
Business Law
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How is an Articles of association altered?
According to the provisions of the act and to the conditions contained in its Memorandum of Association, a company may by passing a special resolution...
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When is a Director or other person not liable for Mis-statement in prospectus?
The person responsible for the issue of prospectus containing untrue statement can be exonerated from such liability if he can prove that: In a suit...
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What is the meaning of a Company?
The word company means an association formed by a number of persons for some common object. When such an association of persons is registered under...
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What is the procedure for registration of Non-profit Organisation as a company?
Association not for profit: An “Association not for profit” means a association which is formed not for earning profit but for commerce, art, science, charily,...
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Essentials of a valid contract
A valid contact must have the following essentials Two parties : for a valid contract, there must be two parties Offer and acceptance: There must...
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All contract are agreements but all agreements are not contract. Give reason.
All contract are agreements but all agreements are not contract Give reason. Ans- proposal-sec 2 (a):- “when one person signifies to another, his willingness to...
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What is meant be “deemed public company”?
Section 43A was introduced in 1960, in which a private company is converted in to a deemed public company with the fulfillment of some condition....
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What is Certification of Transfer?
Where a shareholder desires to transfer only some of the shares represented by a share certificate or desires to sell the shares to different person...
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When can a company commence its business?
A private company can begin its business immediately after getting the certificate of incorporation. Whereas, a public company cannot start its business after incorporation unless...
