Company law for accountants Essay Example | Topics and Well Written Essays - 2500 words

Company law for accountants - Essay Example Promoters are involved in the formation of a company and deal with formalities of a companys registration, finding share holders and negotiations for new company business contracts. However, companies which are not yet been incorporated cannot enforce contract because they have not attain a legal status to attain contractual rights or sustain contractual liabilities existing from a pre-incorporation agreement and therefore the pre-incorporation agreements cannot oblige a company or the other parties involved. No action could be taken against candy because of the following reasons. First, the company directors knew that candy was bankrupt pursuant to the court order dated 23rd June 2011 and therefore, he was legally prohibited from managing, forming or promoting a limited company unless he gets an explicit permission from the court. But Becky, one of the directors, knew candy’s plan (of promoting the company) but did nothing to stop or inform candy about the court order regarding his bankruptcy and the implications thereafter. It was therefore unlawful for Becky that even having known that candy was bankrupt, he went ahead and allowed him to negotiate with yuenshiu on an exclusive agreement on behave of the company (gallery company) that once formed, it would take yuenshiu’s output and sell it in return for 50% commission on the first year and with opportunity to extend for further five year and at 40%. It was illegal that candy had to use the inside knowledge of the company to profit at the expense of other investors’. Candy seems to both a share holder and a promoter of the company. Has a promoter, candy must not make secret profits out of promotion of the new company. For example she ought to have disclosed to the company that he had received a gift as a result of the transaction between her on behaves of the company and yuenshiu the investor. Candy was also

Pen Profile of the Client Essay Example | Topics and Well Written Essays - 3250 words

Pen Profile of the Client - Essay Example According to the paper, this evacuation lasted months, and it definitely had a psychological impact on Dereck. A man named Alexander who was evacuated at 11 years of age recalls. â€Å"We were dumped at a roundabout with our labels on. People pulled and tugged at the children they wanted. It was a bit like a cattle market... people just waded in. I went with a lady and her daughter - she was like a second mum† . Dereck feels disappointed with numerous aspects of his life. Whenever Dereck is faced with a challenge, he gives up. As a child, Dereck was not performing well in his studies, which is evident from the fact that he failed his 11 plus exams thrice. As an adult, Dereck once owned a pub, holiday flats and a shop. At the moment he doesn’t own any of these properties because he got rid of them. Dereck is intimidated by his younger classmates. When he is faced with a problem, he does not ask questions because he believes that he will hurt his pride. He feels that it i s too late for him to change who he is. Dereck is vigilant in pursuing his interests. This is evident from the fact that he likes counselling. Dereck has consistently attended classes and has been pursuing a degree in Psychology for nine months now. While growing up, Dereck realised he was good at sports. He played football at elementary school, where he eventually played for his town, his county and London. After school Dereck proceeded on to become a professional football player for 3 years. Dereck currently plays golf two or three times a week at a golfing society called Elderly Gentlemen’s Golfing Society. Dereck does not think he needs any counselling because he believes he has no problem. He believes that he does not need anybody to help him because he has nothing to complain about. Dereck thinks that he is conceited, proud and confident but all these traits can be attributed to the fact that he is insecure.