Guys,...In preliminary contract, ther'z this particular condition(Undr Specific Relief Act), which says the contract shall "BIND" to the company if ;
- " Such preliminary contracts were warranted bu the terms of incorporation of the company & was specified in memorandum/articles"
Wht does the above quoted lines mean,...I really din get it....If any1 can explain it with some eg, guess it can be useful...Thnks :)
Do reply asap..
Divya,
Generally priliminary contracts binds promotor/s.But if there is a condition specified in memorandum or aricle of association of the company, such contracts entered by promotors, may bind the company for the acts of promotor before the incorporation of company.
hmm...wel faizz....cn u provide me the evidence of this fact.....!!!!!!!
SKAA & Associates
New Delhi
CA Inter
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