Helo friends, pls Give me answers of Company law of CS Executive = help . . . . . . COMMENT on the following in Details= (1)A company cannot ratify a pre-incorporation contract thought it is open to it to enter into fresh contract, (2) An allotment is acceptance of an offer to take shares by an applicant and like any other acceptance it must be communicated, . . (3)Cosent of the Board of Directors is required for certain contracts in which particular directors are interested. (4) Preference shares similar to debentures and its differences with shares are many.
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| Originally posted by : Hardik Dave | ||
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Helo friends, pls Give me answers of Company law of CS Executive = help . . . . . . COMMENT on the following in Details=
The following is the clarification showing concepts about it :
(1)A company cannot ratify a pre-incorporation contract thought it is open to it to enter into fresh contract,
It is alike a person cannot give a gift to a child who is not born.
However; when a child is born, he can make a gift to him.
(2) An allotment is acceptance of an offer to take shares by an applicant and like any other acceptance it must be communicated, . .
Suppose you sent some money to a merchant for buying some goods.
If he does not convey you back in a reasonable time; you will ask him to refund the money.
But if he says, I am sending the goods, then you will be assured to have goods from him.
(3)Cosent of the Board of Directors is required for certain contracts in which particular directors are interested.
Otherwise the Directors will enter into in transactions in which they have vested benefits and harm the interest of other shareholders. (Company un-ke baap ki nahi hai - you have read about separate legal entity concept).
(4) Preference shares similar to debentures and its differences with shares are many.
Preference shares are not similar to debentures ( Otherwise why two different names ?)
These also differ from Equity Shares.
Regarding repayment, it can be said that Pref. Shares and Debentrues are similar because these can be repaid during the lifetime of the company. |
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agree with Surendra sir....
agree with sir.......!!!!!
Thanku very Much Surendra sir.smile. , also thanku Sneha and Sanyam bhai.smile.
Dear Hardik Please see below files. Here you will find compilation of Company Law Objectives.
CS EXECUTIVE PROGRAM-COMPANY LAW OBJECTIVE COMPILATION
Corporate Law Notes
Corporate Law Objectives
Very Well Explained by Surendra Sir.Smile
BASIC DIFFERENCES
1) preferance shares are owners of the company without voteing rights
2) debentures are creditors of the company third party
3) debentures interest is a charge against profits hence, provision is created because future liability with certainity must be evaluated and provided for
4) normally except cumulative shares dividend is declared when profit available, and its treated as a contengent liability until paid off hence dose not affect accounts.
Thanku Very much Sanjay sir.smile. Thanku SAN bhai and gautam
Very well explained by surender sir !!
Nice explanation by CA Surendra Sir......
| Originally posted by : CA SURENDRA KUMAR RAKHECHA | ||
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Originally posted by : Hardik Dave Helo friends, pls Give me answers of Company law of CS Executive = help . . . . . . COMMENT on the following in Details= The following is the clarification showing concepts about it : (1)A company cannot ratify a pre-incorporation contract thought it is open to it to enter into fresh contract, It is alike a person cannot give a gift to a child who is not born. However; when a child is born, he can make a gift to him. (2) An allotment is acceptance of an offer to take shares by an applicant and like any other acceptance it must be communicated, . . Suppose you sent some money to a merchant for buying some goods. If he does not convey you back in a reasonable time; you will ask him to refund the money. But if he says, I am sending the goods, then you will be assured to have goods from him. (3)Cosent of the Board of Directors is required for certain contracts in which particular directors are interested. Otherwise the Directors will enter into in transactions in which they have vested benefits and harm the interest of other shareholders. (Company un-ke baap ki nahi hai - you have read about separate legal entity concept). (4) Preference shares similar to debentures and its differences with shares are many. Preference shares are not similar to debentures ( Otherwise why two different names ?) These also differ from Equity Shares. Regarding repayment, it can be said that Pref. Shares and Debentrues are similar because these can be repaid during the lifetime of the company. |
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nicely explained sir .... thanks
well explained by surender sir ..............thanx
Very well explained by Surendra Sir, and thanks Hardik for putting such interesting question
Friends... I'm a CS Executive Programme student... I'm Going to appear for 2nd Group only this June.2011. I ve not yet started preparation bcos my auditor is not giving study leave... So can any pls give a simple notes with which i can do my 2nd group well.. My mail id is vinothvnc @ gmail.com
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