2. Promotion of the company

2016 ◽  
Author(s):  
Lee Roach
Keyword(s):  
Third Parties ◽  
Essential Information ◽  
Legal Relationship ◽  
Legal Position ◽  
A Company

EachConcentraterevision guide is packed with essential information, key cases, revision tips, exam Q&As, and more.Concentratesshow you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the legal position of persons in the process of incorporating a company (known as ‘promoters’), and the legal relationship that exists between them and the unformed company and with any third parties who contract with the promoters or the company prior to it being incorporated. A promoter cannot make a secret profit out of the company’s promotion and will usually be personally liable on a contract entered into on behalf of a company if that company had not been incorporated at the time the contract was entered into.

Contracts for the Benefit of Third Parties Under the Taiwan Civil Code

2018 ◽  
Author(s):  
Sheng-Lin JAN
Keyword(s):  
Civil Code ◽  
Third Parties ◽  
Third Party ◽  
The Third ◽  
Legal Relationship ◽  
The Third Party ◽  
Privity Of Contract

This chapter discusses the position of third party beneficiaries in Taiwan law where the principle of privity of contract is well established. Article 269 of the Taiwan Civil Code confers a right on the third party to sue for performance as long as the parties have at least impliedly agreed. This should be distinguished from a ‘spurious contract’ for the benefit of third parties where there is no agreement to permit the third party to claim. Both the aggrieved party and the third party beneficiary can sue on the contract, but only for its own loss. The debtor can only set off on a counterclaim arising from its legal relationship with the third party. Where the third party coerces the debtor into the contract, the contract can be avoided, but where the third party induces the debtor to contract with the creditor by misrepresentation, the debtor can only avoid the contract if the creditor knows or ought to have known of the misrepresentation.

The Legal Status of a Company after Decision on Its Liquidation

2021 ◽  
Vol 10 (1-2) ◽  
pp. 138-152
Author(s):  
Viktoriia O. Khomenko ◽  
Leonid V. Efimenko ◽  
Valentyna A. Vasilyeva
Keyword(s):  
Market Economy ◽  
Legal Status ◽  
Court Decision ◽  
Entrepreneurial Activity ◽  
Legal Entity ◽  
State Register ◽  
Legal Position ◽  
Main Factors ◽  
A Company ◽  
Made In

Abstract Entrepreneurial activity is one of the main factors in the development of the market economy of the state, the internal and external markets of Ukraine and innovative industries. Therefore, the main purpose of this article is to analyse the peculiarities of the legal position of a company after a decision has been made to terminate it. It is established that the liquidation of legal entities is performed without the transfer of the rights and obligations of the liquidated enterprise to other persons, i.e. without succession. Upon liquidation of the enterprise, its rights and obligations are terminated. The current civil legislation does not provide for the limitation of the powers of the liquidation commission in cases of liquidation based on a court decision. It is argued that the liquidation commission be terminated when an entry on termination of the activity of a legal entity is made in the unified state register.

scholarly journals Floating Charges and Trust Property in Scots Law: A Tale of Two Patrimonies?

2018 ◽  
Vol 22 (1) ◽  
pp. 1-28
Author(s):  
Alisdair D J MacPherson
Keyword(s):  
Charge Property ◽  
Legal Position ◽  
Trust Property ◽  
The Law ◽  
Trust Law ◽  
A Company

This article contains a doctrinal analysis of floating charges and trust property in Scots law. It uses the dual patrimony approach of trust law to interpret the floating charge's creation, attachment and enforcement, and thereby demonstrates that it is not possible under the current law to effectively charge property held by a company in trust. The application of the dual patrimony theory provides a broader foundation for explaining the current legal position and helps to integrate the floating charge into wider Scots law. The article also diagnoses issues that would need to be resolved if the law were to be successfully reformed to enable the charging of trust property. It shows that there are some ways in which the current law could facilitate such reform but that, in other respects, more substantial changes would be required.

4. Privity and third party rights

2021 ◽  
pp. 72-96
Author(s):  
Jill Poole ◽  
James Devenney ◽  
Adam Shaw-Mellors
Keyword(s):  
Common Law ◽  
Third Parties ◽  
Third Party ◽  
Essential Information ◽  
Privity Of Contract

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the doctrine of privity and third party rights. The doctrine of privity of contract provides that a person who is not a party to a contract (called a ‘third party’), cannot acquire rights under or enforce the provisions of that contract or rely on its protections even if the provisions were intended to benefit that third party. At common law there are complex, and sometimes artificial, ways to avoid this conclusion. More significant nowadays is the attempt to reform this principle by legislation in the Contracts (Rights of Third Parties) Act 1999, allowing some third party beneficiaries to enforce the provisions of contracts.

Corporate Personality

2021 ◽  
pp. 37-47
Author(s):  
Eva Micheler
Keyword(s):  
Third Parties ◽  
Company Law ◽  
Organizational Boundaries ◽  
Legal Personality ◽  
Corporate Form ◽  
Organizational Action ◽  
To Come ◽  
A Company ◽  
Corporate Personality

This chapter discusses how separate legal personality can be explained as a solution developed by company law to address the problem that organizations are social rather than brute facts. For a company to come into existence, certain documents need to be registered. These contain information that facilitates the interaction between the company and third parties. Registration as a company then gives an organization a public legal manifestation. The Companies Act does not limit the corporate form to organizational action. The corporate form can therefore be used for other purposes and organizational boundaries do not align with legal personality. But this does not undermine the observation that company law is designed for the operation of organizations.

9. Duty to act within constitution and powers

2021 ◽  
pp. 153-176
Author(s):  
Brenda Hannigan
Keyword(s):  
Third Parties ◽  
Abuse Of Power ◽  
Important Constraint ◽  
Statutory Protection ◽  
A Company

The Companies Act 2006 (CA 2006) requires directors: to act in accordance with the constitution (defined s 257) and to exercise powers for the purposes for which they are conferred. This chapter focuses on s 171. The discussion covers the constitutional division of power within a company, types of authority, statutory protection of third parties, and exercise of a power for an improper purpose. Much of the discussion is of the important agency rules which govern directors’ authority, considering in particular the extent to which third parties can rely on the apparent or ostensible authority of an individual director or directors. The circumstances in which third parties are put on inquiry are considered. The statutory protection afforded to third parties by CA 2006, s 40 is also examined. The proper purpose doctrine is an important constraint on abuse of power by directors and the application of the doctrine is addressed in detail.

19. Acting for a company: agency and attribution

2017 ◽  
Author(s):  
Derek French
Keyword(s):  
Criminal Liability ◽  
Court Cases ◽  
Legal Relationship ◽  
Relationship Of ◽  
A Company

This chapter deals with the legal relationship of agency that exists between the company and the agent, explaining the process involved in an agent’s authentication and the execution of documents for the company he or she represents. It then considers two ways in which a company may become contractually bound to another person (a ‘contractor’) under the provisions of the Companies Act 2006: through a written contract to which the company’s common seal is affixed, or when someone has made a contract on behalf of the company. It also discusses the company’s capacity to enter into contracts, with emphasis on the ultra vires rule, and attribution by a court so as to impose criminal liability on a company. A number of court cases relevant to the discussion are cited.

8. Members’ remedies

2020 ◽  
pp. 151-173
Author(s):  
Lee Roach
Keyword(s):  
Essential Information ◽  
A Company

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the three principal remedies provided by law to members of a company: the derivative claim under Pt 11 of the Companies Act 2006 (CA 2006); the unfair prejudice remedy under Pt 30 of the CA 2006; and the petition for winding up the company under s 122 of the Insolvency Act 1986 (IA 1986).

3. The constitution of the company

2020 ◽  
pp. 43-60
Author(s):  
Lee Roach
Keyword(s):  
Common Law ◽  
Essential Information ◽  
The Common ◽  
A Company

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the company constitution. A company’s constitution consists primarily of the articles of association and agreements and resolutions affecting the company’s constitution. The constitution forms a statutory contract between the company and its members, and between the members themselves, but only those provisions relating to membership rights will constitute terms of the statutory contract. A company can alter its articles by passing a special resolution, although statute and the common law restrict a company’s ability to alter its articles.

8. Members’ remedies

2018 ◽  
Author(s):  
Lee Roach
Keyword(s):  
Essential Information ◽  
A Company

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the three principal remedies provided by law to members of a company: the derivative claim under Pt 11 of the Companies Act 2006 (CA 2006); the unfair prejudice remedy under Pt 30 of the CA 2006; and the petition for winding up the company under s 122 of the Insolvency Act 1986 (IA 1986).

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