Protecting Creditors: Share Capital Maintenance in Corporate Law
Doctrine of Maintenance of Share Capital
The doctrine or principle was developed primarily to protect the company’s creditors.
- Creditors have the right to be assured that the company’s capital is applied solely for the purpose of operating the business of the company.
Key Case Law on Creditor Protection
Re Exchange Banking Co – Jessel MR
The creditor lends money to the company based on the promise that the capital will only be used for business purposes. Because of this, the creditor has the right
Read MoreIndian Constitution: Fundamental Rights and Duties
Understanding Fundamental Duties in India
Fundamental Duties are the moral obligations of every citizen of India. These duties help in promoting a sense of discipline, patriotism, and responsibility towards society and the nation. They act as a guide for citizens to behave in a responsible manner and uphold the values of the Constitution.
The 11 Fundamental Duties Under Article 51A
As per Article 51A of the Indian Constitution, there are 11 Fundamental Duties for every Indian citizen:
- To respect the
Civil Procedure Code: Return and Rejection of Plaint
Return of Plaint (Order 7 Rule 10 CPC)
Introduction
It is a general principle of law that courts cannot entertain a suit unless they have jurisdiction to do so. When a suit is instituted in a court that determines it lacks jurisdiction to entertain the matter, the plaint must be returned to the plaintiff under Order 7 Rule 10 CPC for presentation to the proper court.
Meaning of Plaint
Plaint is not defined by the Code, so it must be taken in an ordinary sense:
Read More“It is a written memorial tendered to
The Structure and Sources of English Law
The English Legal System: An Introduction
In most European countries, judges interpret the legal code. In the English legal system, however, judges have a dual role:
- They interpret the existing law, which is found in legislation and previous decisions of higher-ranking courts.
- They create the law by establishing legal principles that courts lower down the hierarchy must follow.
The Hierarchical Structure of English Courts
The English Court System is arranged in a hierarchical structure. The Supreme Court
Read MoreCanadian Charter of Rights: Application and Limitations
The Canadian Charter of Rights and Freedoms
The Canadian Charter of Rights and Freedoms guarantees certain basic rights and freedoms. It limits the law-making power of legislatures and the decision-making powers of courts. In some cases, it can be used to prevent abuse and unfairness in administrative actions and delegated law-making.
Courts can use the Charter to:
- Strike down or amend statutes that violate Charter rights.
- Invalidate a statutory provision that weakens fairness protections.
- Read into
Essential Requirements and Special Clauses in Labor Contracts
Labor Contract Conditions and Requirements
Essential Requirements for a Labor Contract
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Consent: The external manifestation of the parties must match their internal will. This consent may be vitiated, which can cancel the contract. Causes for vitiated consent include:
- Error: (In the person or their characteristics; this is the most relevant cause.)
- Violence and Intimidation
- Fraud
- Object: The contract must have an object that is lawful and defined.
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Cause: The cause must exist and must be lawful.
Example: