A rule of external human action enforced by the sovereign political authority Established habits and thought of mankind which has gained distinct and formal recognition in the shape of uniform rules backed by the authority and power of govt. The technique for the regulation of social power ( ...

A merger is a process by which two companies join and one new company continues to exist. Also called a consolidation, a merger occurs when two companies combine together to form a new enterprise altogether, and neither of the previous companies remains independently. Acquisitions involve ...

Ultra vires in company law is used to indicate an act of the company which is beyond the powers conferred on the company by the objects clause of its memorandum. An ultra vires act is void and cannot be ratified even ...

The Companies Act 2006 s.172 introduced a directorial duty of promoting the success of the company. This new session purports to encapsulate the ‘enlightened shareholder value’ (ESV) approach in common law. This article argues that s.172 merely codifies the common ...

The pari passu principle means that all unsecured creditors in insolvency processes, such as administration, liquidation and bankruptcy must share equally any available assets of the company or individual, or any proceeds from the sale of any of those assets, ...

A wholly owned subsidiary is a company whose common stock is 100% owned by another company, the parent company. Whereas a company can become a wholly owned subsidiary through an acquisition by the parent company or having been spun off from the ...

Generally, defamation is a false and unprivileged statement of fact that is harmful to someone's reputation, and published "with fault," meaning as a result of negligence or malice. State laws often definedefamation in specific ways. Libel is a writtendefamation; slander is a spoken defamation. A person who has ...

‘A company is an association of at least two or more persons (except for “one-person” companies) who themselves possess a legal personality of their own, so that there is nothing inconsistent with attributing to companies many of the legal characteristics ...

A pre-Incorporation contract is a contract that is entered into by a person who is acting on behalf of a company that does not exist. The person entering into the agreement has the intention that once the company comes into ...

When people form a company, they decide whether to limit the members’ liability by shares. The memorandum of association (a document required in the company’s formation) must state: the amount of share capital the company will have; and the division ...