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Question Tag: Pre-Incorporation Contracts
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+ past questions and counting.
- 1 Marks
BL – Nov 2023 – L1 – SA – Q8 – Company Law
This question asks about the binding nature of pre-incorporation contracts.
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- Tags: Company Formation, Corporate Law, Pre-Incorporation Contracts
- Level: Level 1
- Topic: Company Law
- Series: NOV 2023
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- 10 Marks
BCL – Apr 2022 – L1 – Q5b – Company directors and other officers
Analyze the validity of promoters' defense in a pre-incorporation contract case and discuss the lawfulness of for-profit companies limited by guarantee.
Question
b) The promoters of Adzeku Company, made a contract on its behalf with Ansah Oko before the company came into existence. The company once formed, purported to ratify the contract, but then went into liquidation, and the promoters themselves were sued on the contract. The promoters argued that they had been contracted as agents, and that the liability on the contract had passed to the company by ratification.
Required:
i) From the facts of the scenario above, explain if the defence set-up by the promoters is valid. Advise the promoters. (8 marks)
ii) State briefly, if it is lawful for a company limited by guarantee to be incorporated with the object of carrying on business for the purpose of making profits. (2 marks)
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- 4 Marks
BCL – May 2018 – L1 – Q6a – Types of Capital and the Financing of Companies
Explain how a company acquires interest in pre-incorporation contracts.
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- Tags: Company Law, Contract Ratification, Pre-Incorporation Contracts
- Level: Level 1
- Topic: Types of capital and the financing of companies
- Series: MAY 2018
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- 1 Marks
BL – Nov 2023 – L1 – SA – Q8 – Company Law
This question asks about the binding nature of pre-incorporation contracts.
Find Related Questions by Tags, levels, etc.
- Tags: Company Formation, Corporate Law, Pre-Incorporation Contracts
- Level: Level 1
- Topic: Company Law
- Series: NOV 2023
Report an error
- 10 Marks
BCL – Apr 2022 – L1 – Q5b – Company directors and other officers
Analyze the validity of promoters' defense in a pre-incorporation contract case and discuss the lawfulness of for-profit companies limited by guarantee.
Question
b) The promoters of Adzeku Company, made a contract on its behalf with Ansah Oko before the company came into existence. The company once formed, purported to ratify the contract, but then went into liquidation, and the promoters themselves were sued on the contract. The promoters argued that they had been contracted as agents, and that the liability on the contract had passed to the company by ratification.
Required:
i) From the facts of the scenario above, explain if the defence set-up by the promoters is valid. Advise the promoters. (8 marks)
ii) State briefly, if it is lawful for a company limited by guarantee to be incorporated with the object of carrying on business for the purpose of making profits. (2 marks)
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Report an error
- 4 Marks
BCL – May 2018 – L1 – Q6a – Types of Capital and the Financing of Companies
Explain how a company acquires interest in pre-incorporation contracts.
Find Related Questions by Tags, levels, etc.
- Tags: Company Law, Contract Ratification, Pre-Incorporation Contracts
- Level: Level 1
- Topic: Types of capital and the financing of companies
- Series: MAY 2018
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