Rights and Liabilities of Principal and Agent to Third Parties The rights and liabilities of a principal in relation to third parties under contracts made by his agent
Relationship between the Memorandum and Articles The following are some of the relation between Memorandum of Association and Articles of Association. 1. Both these documents are subordinate to
What is Ultra Vires? The term “Ultra” means beyond and “Vires” means powers. The term, therefore, means the doing of an act, which is beyond the legal power,
Duties of a Promoter The following are the important duties and liabilities of a promoter: 1. Duty to Disclose The promoter is under a duty to disclose fully
Voluntary winding up is of two types. They are Members Voluntary winding up, and Creditors’ Voluntary Winding up. This article discusses the procedures pertaining to Members’ Voluntary Winding
Legal effects of Memorandum and Articles when registered The effect of the Memorandum of Association and the Articles of Association when registered is that they bind each member
What is Caveat Emptor? The maxim Caveat Emptor means let the buyer beware. In other words, the buyer must take care of his own interest while purchasing the
Understanding Fixed and Floating charges on Property The company, when borrows money like any other person can give security to its creditors. When a security is given, a
Rights of Surety against Creditor Surety has the following rights against his creditor. 1. Rights in Case of Fidelity Guarantee In case of fidelity guarantee i.e., guarantee as