Corporate Law For Managers Essay Example | Topics and Well Written Essays - 2500 words

Corporate Law For Managers - Essay simulationIn the past, this type of come down was considered as rather risky the completion of the in mess procedure was not always guaranteed - a phenomenon also common in modern market. The introduction of the Companies Act 2006 led to the augment of the safety of the specific type of contract in the section 51 of the above Law it is notable that the person who acted in behalf of the firm or as its agent is considered responsible for the performance of the specific contract the successful incorporation of the company in the name of which this person acted is not of particular importance regarding the guard of the interests of the party that signed this agreement along with the companys agent. In this paper the role of the section 51 of the Companies Act 2006 in relation to the problems of pre-incorporation contracts is critically examined it is proved that the above provision had offered an important mannikin for the protection of the rig hts of interests of the parties (individuals or firms) that enter a pre-incorporation contract.In order to identify the problems related with the pre-incorporation contracts it would be demand to refer primarily to the concept of incorporation in accordance with Cross et al. (2007, 13) the incorporation process requires the victimization of articles of incorporation (sometimes called the corporate charter or certificate), which is publicly available and becomes something like the constitution that governs the corporation the founders of the corporation are free to choose the terms of the corporate charter however, they are bound by the integrity as the application of specific rules, usually represented by the commercial ethics moreover, it is required by the law that the corporate charter addresses specific issues the rest of the content of the corporate