- This topic has 7 replies, 2 voices, and was last updated 10 months ago by
.
- Posts
I am so confused in the following things, I would appreciate your help.
Q1. As we know, Administrator can report on director’s misconduct to BIS, does administrator have authority to fire or replace director?
Q2. In ordinary and special resolutions, 50% and 75% votes are the ones which are actually cast or just those who are entitled to vote?
Q3. If a company makes contract before obtaining incorporation certificate, is the contract Void, voidable by one party or voidable by both parties?Where you have multiple queries, please post them individually. Multiple postings is not a problem for me but the subject line cannot be helpful for other students.
Q1 ‘can the Administrator remove a director?’ ‘No’ is the simple answer. This is the right of the members in general meeting. The administrator’s job is to run he company in an efficient way.
Q2 ‘50% and 75%’ – strictly that’s >50% and 75%. The percentages are the applied to ‘those members who are entitled to vote and who do vote in person or by proxy’
Q3 I want you think about this! I believe that you are aware that not all pre-incorporation contracts are void. Now consider the possibility the such contracts could be avoidable by both parties – ie by the company and the third party. How can it be possible that the company should have the right of avoidance? The company / promoter KNOWS that the company is as yet unincorporated!
So the answer to your question has to be that such a contract is avoidable at the option of the innocent third party
OK?
- You must be logged in to reply to this topic.