JSB171 Lecture Notes - Lecture 1: Advance Bank, Aequitas, Nba Coach Of The Year Award
Document Summary
Company has legal capacity of an individual so can enter contracts: s124. But company may be wound up if directors conducting affairs in own interests rather than interests of the company: s461(1)(e: constitution. Objects in constitution: s125(2) (an act of the company is not invalid merely because it is contrary to or beyond any objects in the company"s constitution) Generally by two resolutions (northside developments v registrar-general) That company will enter a particular transaction. Only bound if used the common seal: ar wright & son ltd v romford borough council (1957) Fixing of seal witnessed by (s127(2)) | document signed by (s127(1)) . 2 directors of the company: s127(2)(a) (witness seal) | s127(1)(a) (signed) Director and company secretary: s127(2)(b) (witness seal) | s127(1)(b) (signed) The sole director of a single director | secretary proprietary company: s127(2)(c) (witness seal) | s127(1)(c) (signed) Company may enter contract through an agent without a seal: s126(1)
