‘ageHTNENUE” storia Arecition “re Use lees Sunnah | then eleaeyguicence cannot be obicines ftom | be “Quon, o Jodge may Yom fo the, Sonndh to see bow the Goran wot inlerprolss ty the Aojheb. | he Sunnah may be died to. Confirm law in tne, Quran Constirumen Leg, trary uphaidt sDatVa tou s, Najor sebools of law CMadhabs + Shioy (ports of Irony + Honafl’ CPakislon) > Malti a = Hank sources “sof Boted on tbe writings of major joriuts. (Toglid) & the theory tha} onmoreninterprelation chomatiers of slegal or eligicor significance is (WEETED! This theory is the revel of whol way noun o¢ * axing thengates of ateiitibog \iiboo Thete ore processes by which anvoppropricle renin , incladi Na Clo) Hicoricol © * Moa! - tontensonefeopinion Procees A SYS snaogcksostuction REFEREED dudiciol reuiens Scio Some iclemic wonttier hove work to ensure Inhocoee ayrule where they Ouran fe silent enotted stobote conforms with shérig. Criminal 098 clit tow {grime isa condoel prohibited The detemprowemetes It the gickinctn ix nob the ack bol the 14 49. Crimes ove. ponithoble , Inos} prove beyond rentonatle ‘egal consequences. -xvally by fle or imprisonment. dood} that the actosed | here isa heauy burden of prof | ay exics fo regulobe Silas over the vighit ond > pbc cbligahiong of persons Gealing Committed the crime + Prove on bolonte of + bebwean clainron} Example. A drunk driver Gliding with o pesestrion tmoy create beth o ciull ond a criminal action, Gitinal, Proveuution yy the stote for Griung with execs oleabsd \ sith each ober There ls a * and gefendont Gul Regevtrianysves for compensa: lighter burden of root . Koy eneyas for “for personal injory. bosinesses je,conhoch Scanned with CamScannerInternational trode Hoy qpvernments ee from foreign etnpetition eg me - cemborgees i Nekiona laut an lio fom gs tener. >} However, whob mates aa legally Vag: Tote a controck) fr exemple. » Wapgshoken | Isaional loos vorg [ovtsact ‘ conflict of lowe 7 Con be solved by inkernotiondi—low) : stotes eg - onfcl ohyaweyeceur ubere spantiey from 4 ceirenationg hove o Jegaheinpele 0d A -———-- operofing eth eoch cher vtingmedellawsy ond is onan _snocling engentions ond reatiet fo regulate inlernotional trode belween geople and organisalions. \ Exomples ub + AEST ‘200 Ceboice of owed) a 1986 (COWBIMOHOND Intexnolional_ trode orgoti tations Mogelstatsx . conuentions on presen are he ow 7 wort of internotionol fede! ergontiotion bxier Amex every, iene slole in the world working for greater internation} eaoperction . is 0 gmemers . Examples Nim “The nites Wotions cows * Wointoin peave ond geesrity, International chomber of onmmeree C1Ce * Develop trienelyrelatlonssomeng notions Notld Teds Organisation” CTO? * (oxoperoteringsclsingsetenomic | socials wlhoro, “Orpprisation for Eecnstaten tosperation “Gra sbumonthaianm problems” Developmsft coecoy ‘Promote necqedts for honam tight ond “yuioneitl 3 pinternationatfreesorse” aa ower L al International Lew: (DN Commiscionon ‘Monmieeion” ‘/Intematienol trode Lava CONCITRALY There ore over 800 conuention# . tealies ons stundor toh legally bind the chotes ubich solify. them. = Hormonice £ unity “he remattora’ 10» ON ayode Scanned with CamScannerKe Generalcounel] is EnoDO “ice nh ue WTO, OR AIEEE. Boy ECO , fronses ote . inowbment Facilitates freeninlernationaitiode. Works on exononfic. and s6b%a: Atego cleat. orm fortreasirdentelueeny —-Lagay binding agreement ~ Rbpounte for bs dete * anstinsing TEAS Nex sovernment * Qharolesmpiaputenseiementy onerrRat, : ~ ooeeo. practice for! og The cawrlegandy of the res counoit i main a ib mone a ee 1 pned atone Cetin on ean remove cane "6P inherent Tote 16 Tinternational Chanter of HE | Groene % are Vote » orgonicational for Econom 5 wortd council is He > pean (o-operation and developrnent J Supreme Gteathorityo} the -cobbaleima . occ. Laternobional Institute for ‘he Unification of icate Lo? Fe generat axersly. Teth your enderstonding 4 » The legilchuve ic he primary tow motor of @ stele, Tesh your Underctonding 8 The. cenceph of separation of powers involues the derision behween citferent persone Gt exgonications Cor both) of the Hmee ' power’ of government: in a stale. These powers ore the legistature , who Toate the ian , ine execdbive, who implement H . ond the jediciony . who reolye dt poler ‘oncenning ih. The idea behing this divicion ie thot it will) make Haponny leat lively. Tait your uncerstonding « fds. H ica general principle. of dull low that thay ore not cuppored to interpre the law bal oppiy Wt. Test our onderstonding & Iba common low eystem , Lodger shave a nombor of role ond principle to apply in inherreting statutes, which will bave been drafted in greet Geloile. There inchwe the foe thal statuber do not override exiting low . ond do nob concern mers nat covered by tbe low ‘oa cull low system, jdges ore required nok 1 interpret the low but mnorely apply id. if interpretation ic requited 1, ivdges shout try ond Iroplement tne social purpose eebind the lata and S20k fo apply dhe inlention to the present dag . Scanned with CamScanner4 Court bored adjudication ong alternative ‘dispute resolution (ADR : Courk-boved adjog eoTO OFS BUENO: ORAUIEABOINONSLAGR > Vane and cone y : Seltiement A ordigpute” by the parties, ottictes by ‘Decision appeated Soeopen eerpeRAT ~ ‘Point of low! | Appelloter ADR ‘cour : = ‘Point of Foch [ZA Expertise of Zi ioforma «Court syctem Adjvoicator Goi Z] Hedplol regal [g-txpenditure Cheaper (cometimer) [BE] oct ol extobisbes solutions [X) sow" PD) Private -oppeal system and ae “alles joogee Role of international courts : “European Guth ofiductice (ees Internctional Court of Arbitration (1A), “Highest oppeal worl GF each 7 eb op by the IE. -imembor alate oF the Eoropeany s [Orion Scanned with CamScannerOK Court Systeme . ited Kingdom, > made up of England , Wales. Scotland and Werther Ireland in north erat totope. the fourle af the United Lingdom are seporcted into three separole joricdictions the Courk of England ond Wales. Court of Scotland and the (ourly of Norther Ireland , as he, Ot doer bot ve a single ofified juticial «uctom, ment fae leds]. Supreme Court of the United Kingdom I Court of Appeal Civil Division, t Criminal division | —_t High Court of dostice 1 i Chancery Hvision Conttache ¥ Tort \- [vogue torts | j |Hagichiote’s ond yout courts —> criminal court where all ‘titi proceedings stor} Trial for mot criminal offence: . Some civil matters ang certoin Ncecing appeal en are presided over by a bench of ‘oy mogichaler or a legally troines sisiviek {v8 ge, in each local jodlice aveos . There ore np juries, County Court > national courl with o Purely civil jurisdiction. Tot for mor civil coree . sitting across 89 different towns ond cher acrous England ond oles. viccis fooger, Recorders, Didtrcl dodger . depuly Dichict Judge In ccxes agoinel the police . the judge sik alone os o Irier of fack and law uithoub assistance fior ay Ne fonm'y our > hational court with jurisdiction fo bear all fom Sil ok the Gountry Court centres and magistrates couric , High conth lodges. Citeai} dogger , Recordere . pistsict Jogges ‘ Depoly Dichick Yodge afd Magistrates Scanned with CamScanner 'Y ier in tnglond and woler.il Rk Shit Chopler 2 j (> BABSS rornatonal commercial Atilration ONCITRAL_Hodel_Low of Infernational, ‘he Court i Compmerciol abitration COW, 2008) Avbilsation fe net carried ou} Io the an Settlement of 0 Sigpute! by cn independents perion bu} the Model Low roqolnes each ads pling, b i taunity 40 nomino'a 0 courk oF abthority 10 souly Sore Me emia “perform certain functions , iF required ‘An ogreemen} ic international if the: "(nn ft et BED written corpmonicalfons oye deemed to ROVE been reteloed on the doy of delivery if ogectetls iy. of 40 ern of orbitrati aifferoot ser the deliveredito theraddreuee personally . a Wage! Lous bis place of butiners ,hobilval reridence oF Obligation of he rkiocip are he r 4o te eomeoaubinafenatdle Sie FF none of thee can be found, is deemed “Portios ove ogresd (thal the olberwice . received if con} iP oonk by 1 | eishered teller to the ‘Ogreemen} reltes to-more Hhaniene ‘ai tnown af ‘nowy adsrecs of the percon CArh3.2. Coromereia! means * relthing to rode”. A lich of exulxiene te given in the Model Low. Arbitration apreemen) 1 AS greement by ibe portier . to submit to arbitration all or certain cispolee belween they in. their legal relotionship (contractual or atberwite) Nog be an atibfation clovse oT separate agreement . The arbitration agreement mos} be in tsibing). Relationship with cour) proceedings Contained in a document provising Ha motes i Brough before o court ond i} i fount | tien eidence of fhe opyeanert. to ortitrotion cgpeement.,, the | -Refertes to bya porly ina dovument court should refer tte matter to ) artilration . unles i “eldling to legol proceeding. ond the tne “the agreement is found to be pulland udid: i Other porly doer oot deny its Abilrl_proceedings may be, brghl where’a mses 1» A usiten controct between the ‘patios is subject to arbiltation , even even iP court proce proceedings notes reference to onather docarnent bove been inibiated . containing on arbitration ogreement Scanned with CamScannernar of obiraone Tre potti may deeming the nomber of arbilalae, IP they co not, tho number of arbitrators will be See fr ongoing the antag Eoch party shall oppaint one arbitrator within 20° ‘days. The 140 oppoinked artibrators wil then appoint covthing within, a07mmere da fales for oppointiog cole _arbitratore IF the parties have oqreed too «Hey rmost agree on who i} choll be. otherwise, mab be teferred tho nominated Gurl | outhrig Yo detide. Attilrolore Hud» q + Repimpartiol” "Be Indepenoent An arbittotor moy by either peaty if ‘ey are nak independent, impartial or 60 9 fob hove the neentry quolfletion. . Proceedings 3 | General rules i The potties chal be freoted with equality and each party ql ee The porte are free to" agree on the procesure fo be fellowes 4 oo Te _preceoure to be_fellowed IF the parties do nol agree on Procedure , the jpibinal Solement of doim ang sefence cee corm ang defence The dimant shal cole the fockr sopporig sir tim, on4 penk’ ab itzoe and ang rene ac Te Cefendont shall anewer there poinbr . The bibunal sll cide nhetnor hearings or ier oa Al otemenk, douomente and other information, from one gangithllobenpubicitey’ fp the ofper, arty shall be_given o Foll_oppurlunity to present their object fo the requirement & F the Motel low thall condor) the orbikolion ox ih sees fi Plove + determined by patie orf nob, he fbn] Longoage : agreeo by porties or, if no}, the. ribonal Gonmencemen} : agreed by poilies ot, if nO} . gp the ake shon referral ic received ty respondent. Eaperks ules the patties agree nol to , the fibooal may rake ove of experts fo ropnt to it. a errs ce Court asiiconee porties or the hibonal reper, guidance in foling evidence from competen) cour Scanned with CamScannera Aware Jeriding fhe dipole ‘eve ore carlin cieametances ete an arnt) 8) Arbitcofors be sel avide. Take mojrity.deeicion ‘Alowable_circumstonces Io accordance with Jawiepecifiesin agreerben +A poy fo The ogiernant wor onder incopacity, Or. iP nekspeified,aityJowstveer ft ooppy or the oreement ra ld onder eleven HP, If the portier settle the dicpule before. ‘bunal, A party wor nob given _propernotice of the oe, he tuna tall eord ob til Q latiholoresaabni or wo chee unable sellement. to preenl their care The atvergseball: © The ound cede with aller: oulside the greene : + Te conpoition of the bribonal voc ineorreeh : The wbject molter ig nob capable of being, seltled he whject meaflet 1 No* Ci ty arbttration under relevant low + The ausrd conflich’ with the public poligy of the . ‘ Test your onderstonding 2 “y True. Ad orbittalion agreement shall be in wording onder the Model Low. Test your understoncidg 2 Trye. A pathy may challenge the oppoinkmen’ of en arbitrator IF there, ic joeifioble doubh ‘about his itmporticlity or his qudlifications . . Test your understonding 4 Te language of the fibural proceedings shall ke ayes on by potlies or, iF not . the tritunol Ovation & © Overtion 6 © Qvestion 7 © A request for an additional oword nol mode in the official orbital decision must be mode tittin —* 20 days Scanned with CamScannerG Chapler 3 Cectiact = pet agp ee ‘ 1 anypot International borinest tronsaclions . formation of the can 4 Tap eral ti emai frelon ta cnn” 1 Conlvack for the International Sale of Goode (1a ’ 19 CLEG (OW, 20105 applies to /RAIBTENGSady between Sala of goode ‘ Portiee whoo pIOLeTANUNINOEE? ore in sifferont —-A conbrach by which the jelarctanafar, or uae Ay States when + agrees to honor Hopstifin goods, to 0 buyer io ~The stoles are eophracting lex state exchonge for monetary compensakion . calles the The wes of xiterintemehonaamrins AES! {he Jigsication of the low-ofstnestonhrcting fosss, -dgrtat 1 / Wok for paRtOnAl, family ehausalowse (tL) ce of bute tok FR ae Goh nolionsiy. (Fo party bor >A.Ro8 then the ok bought «© exeqbionrof aus Feleyorl one mock couelyeannetted: fo the ‘ob lock shore: che mien Isships ete / contra! (Art 109. Ginexafl) Lelectricity> . : Uk the supply of cerca: or provision of abou tala Suche contrac) ic formed when geceprone of on afer becomes effertiver CArt te) Thecconbtorh oes ol ove to be in aritingy unten thic is vequired by theoohonal law of one of the patties Chrte and 199 CSG will apply where tbe privole internotiondl law roles appoint the law of o cit@ alcke in a case of international cles, + | Asien = | stonocting dates ie | Nove Cporsgonlatwie |= [Set@ocger etn | Scanned with CamScannerWal Uist per Y’ Convention | Sooven sion " topvention Test your onderstonging 1 19 © Me coonlvier of both parties to-the tno ore controcting «totes (> Trye. both Edin ond chet ore in countries which are contracting states © © We unetl ic predoninanty thr the syny of lebour making the soverpoe. Ui Fale. Ac the contrac) i¢ nah for the see of qaoa iF doer nab come within The 360 Convention . (8 ® Airough © ie deo hoe. HH ke irelevant Lesuie of Ane fir ctolenent . pe of the \ (ee Incotertae i Nee Ineaterms Clee, 0103 ore * inlernotional contre) tems“, ubich ove stondord trode definilions ioroerhy| ured in infernctional nal trode cantor”. Corton Incoterms inclobe * —_ Hoin_couviage“onpald Ct ferme) » Bane {er non bgp. Wat ate | eras woe) Qeasenavoilable to the buyer only, Boyer.moter orrongerent for 4 abipging ond L Deporte Ce fess {Gller civeharges their duties by polling the ee _— geoc vn board the ship. Seller only hot out {free Alongside ship GFA) ‘tp provide” necexaony export) Vicente! 1 Sellor hac ‘hear pat. thages but hoc | subosiution. Buyer bor rexpensibilitien for | Celie ey ne slon | he gant onip. | alongsige: the ship at the por. Royer ig Poo report for geling them 50 fhe skip and | | {om eco. b [Mager w od Seller bo sessed | bic bligolene when he. diteharged Gelivers the geode , cleared for_expor), to a orier cr.sther agent nomed ty the | | Scanned with CamScanner‘ i : chao anys tation 0@ cur 00 gq __ Yoin-camvioge peid Ce fone —— Os 4 eueninina alse - sellel / out ond frelgntccrR Carriage Peid 40 ccera® | cect mal 0g the cath og igh oud tele pot for croge! io mores Jali, Bek | io geting the got to o named. destination, fave to- buyer when, goods seach thol? Dub the tise pasegcto the ayer tahen the setination , fa : ode are shi oS LGortioge and Inwtence Fold Yo, cciP Seller pays for carrioge ¥ ond inxurone@ for the ? jonot coring cartioge atewts reir to bear he ty ‘ectoee on goioge (egy) | eoranee | for ite gpd, GT an6_AP moy de vied ierespective of the Comiage ik to be paid op uso terme to tpode of Ironiporh of the goods | Hamed pot of geslindion ty the usd rule | O'8 monet. nsuianee mock be The sininora” Stoteo in the wonhact Bomtor ” Delvereo ob Terinal CoAT) | Selier beats all tie inadved in cbsioging =| he goodeto ond unloadi oF Pamed port or place of destination | . » CBelivered af Ploce coAP) oe iy cams : ee Seller hos moximommobliqations : cigcharger delivery when goock are mode avoiteble at homed Place ip a coontry of_itnportotion ano tor pit ole clan _toniage chonges . duty ond tox . ey Neyer has un chaiyatonn Tett your under onding 4 Te mort appropricte Intoberr would be OOP ¢ delivers OUKY paid) . og thle tepretenby the ° lowes Teaponsiitiy ond wrt for the buyer Scanned with CamScanneroer ; , offer nvitolion folfer Ltreah A proposal for concluding 0 gonirathy asdrecses Any otber_propoual, onlecs {Hiclenily indicate, 'o_on8 oF mores speienpersone=thalnie lone ooh, ” sufficiently definite ong thot indicate the £00 of offer aD of the offeror 4o.be bound by accep An offer tnoq end in one of three WOKE 5 t oe ht wy), “(Mien Only it” the withdrawal renchec ‘OM incicoes the gootisimqucstion the olfeten before, ot ob Ine same Hine at, GH mavee Moulton for vite) quonthy oovalln (Ast 189 : fe eee fee! wen it yeother he J ee : onl alferee (Anh 15 collereerbeforaraweptonce is daspatcnay, i iF offer was ob irrevocable’ CA} 16°) GOW ic mode ral ton ‘Relecton: soullght or by counter offer” Unt 1 hi | fo itn ly ot is _ business oF moili IF the notice of no longer wnnting fo be bewtA in Ht there is Do butinets oF onkroc) aniver before the Original off er site with ib it delivereg to him Betwnaly of IFib ortives offer the original offer tui vefore feidenges - acceptance hac been deipatthed iit ic revocation . Tet pour under Honding 8 An offer i¢ a proposal for concluding a_wobroch. I mtb be Goeretced 40 coe or more apecificn prone” : 5 ingicake intention tobe teu5d" in contrac itty those pertone fix or Moko provision for determining the “quankik |.0F goods fixer ‘rake provision for delermining the juice oF the goods Teat Your understorsing 6 An invitation to trea} ix o Mere _proporal tho door not meet the Tequiremants of an offer, Teal Your ngersbonding 7 An offer reaches the ffetee when: iF is mode otally to hitn ib ie Geliveted to nim pereonahy (ot bic business oy railing “cadre > . Scanned with CamScannerAccoptance , modification | termination Av optonce Aounhersaffer, ; — | ag e_ byt . of ahr A replg’to an offer which purports fo be_oxeeplontt (onourl-of the clferee Avoteinsigalerscusenisto fF whith contoine stgibions, iikakiont or on offer Coutsclonseroyinacivig? CW 1¢>. gas HEBIBHE fo Ah. erm of the alee cas 199, Accoploncerbecomes affective when : 6 u A reply which éoet nol SABE ec 6 . : Oe si > mutt be within : Lioketial alterations might inclose « + Sgnificant alter abi alibaugh conection ~ qReovonabtentine® Cart 26) 4 — a {nY be Imminatental 97 eee a? © aise yviantsienton fo colly gue sila ames) _sE-erorinaetiaiy The period of reatonoble time commences + Accoptance moy be juitherowny iF thetwithdrawal from the dole shown in the document contra, _resches tne efferor before or ol the some fime as theaffer toro ihe envslopey (helctedptumee: Uh 32, When the offs ic wont * Weilieaion /Lemrinaion wien iL reathesstheretferaey , Once found, the contrac) may be + Official holidays and nonsbusinee Soy. form pork ugaittea . : of the time perlod. bul when ocoplonce connal be delivered becuvee The tuk day of the Hime period is one, the time period is extended dyo. business Say LTerminiteo eyayeoment sles saengayohucles he oben onelyon ther centot intone way ArL 98 Aole accoptants moy be valid if accepted Ny thewaflonsi CAs ary Test your underdtanding 10 Acceptonee.it nob effective if the indication of omen! door not reach the offeror ~ before the Hime Fixed by ihe offeror i reasondele titoe of the offer being mode Cossuming no fixed Site wor apedifted 9 A notice of revocation hot to reoth the offeree before the offeres Gispatches the acteptonce to be tffective. The offeree does nob have to ote the samme mettod of Gispateh as the offeror , but the acceptance must reach the fferor within reaionable time . ond method of dicpoleh will be foken into arcounh when determining udetber occeplonce hot arrived wilhin reatorsble ttne Scanned with CamScannerChapter & Inlernational business lrontactions : obi ations International business “or ig * getier ob gation petivery. The celer nutt deer ther goods: ont ovet-angy ie IF the ceotrach goer Doh sey te place of ‘ic tnuendion_CAnt 80) (00, 20109 delivery. hee “Gobind estos gamiage cf gente every + naingigonts => feb comes, Additional requirement If goods are Not doorly ideolifiea to the SS “coupment pe fing he qoute. The meant of tronport mod be sewondble /lupieal 9) oberivice , glinany + placing goods ab tne’ Soa The aller mus) delves goods which ore the aos. _quoblily and_description required by Ide woiracl O16 bleh ore ontoine’s or pactageotlin twenmannery ‘eqn ty the cooks , | soe ipa Uoble for lock of uonfasaatye iF ob HHermgtion of conbiodlathesbuyer sine, or ough) 10 +bot ‘he_qoodd]éid ol conform. (Ar asd. Seller ic abe for tock of conformity tok coy becomes opparany offer ‘be tine of delivery, (ash 363, (cdeeadaer te ay cored |e aiden he-renoinge. pulsing Hic i | decency “eure the buyer “unrencnatierinwnvenence « xh 81D. G) sf entact doe oot iomlae_cssiage «004 goods are spacific goods o or goods ate. fromm — oh ace inp te fine cf Sip ene Types — goons _Spouiig goods: jyoce identified os the. gooss to be iin ge fm el sh ai ee Timing Cof delivery | document) Tho Wuyor eee a soon ax poctibie offer delivery, tart 369 If the contract_inooluer carniage . the good: should (hevexomined ex/ sean ax they onitve . IF the sellex_knowe thal the goods are being Eresaiapalebed, they ebovld be examined Imneooiey on enival ot the next defination The buyer lover right to tely on lock of conformity they conobigioza rearonoble notice of it fo the seller tbe cellersackoaly kam toes of lock of conformity. {6 nob tell buyer, then the seller CHIL hag Ot 0 _rexponsibiltge CAsb YO, Scanned with CamScannercofity requirement be ‘godt are_fif for_tne_porpase for which gos of the sere_deuripon so oidinatly be ues be godt are fl for cy. portiolon pampore expressly or inpliedly, move Hou lo ‘An tho gatier a Ihe | enteph where citeomslancer show {hal the buyer dd to rely. oF Wot i 20: unreaionodte fo rely of tbe selley’s_still_and. gga ae posses the uel jee_of any carjle ov tye ed) Io be Fonnablon of The cool _ = we sam el ov where fen ie to eo) Manner, The buyer ros! poy the prica for the goods ond jake de qn sthanvention) Can) $83. } }) fcc naswrloed. tgemeo to teiptn lating Ifthe clon goeinobigety the. fine ond ce | gonbrauteforite carl 58). sf_payment. the folowing olor apply 3 Drive by weigh sf there iv ang dub nel )_frieduiberpaidual seller's plore of busines or weigh icwed tant 869, ‘ited time of handover . where qoads are hordes Buiog delivery powers (het 879. Ibligetion Tnlodex requirement to Qo all reatonablye ad @ frive fo be _pold ob Hime.of handover snag * cat 8) Breath of controch arene park Remedies for buyer Lseller foiled Remedian for seller Chuyer foilure> i) Performance Cunles. an incanuiclent comedy @ Poy 0) occeptance of goods Cumless an pelea songh. buyer toy sek on additional He inconcicient remedy already cought». keller toy period for_porformange | ropeir or ubstitution of fixon additional ine ported within which the eo conforning got Cr ue). “bayer shoold poy CA >. ) Aucidanre. Buyer may declore contratl avoided @ Avotdonce. seller may declare Wye contrac! “Hf foilure to perform is o fontomental_ breach. cocided if_buyer fail to actopl goose or yy for They Wxe the righ HP good cre delivered unas ther. They lore th igh} tbe buyer pegs onlay they cre late, ora different preach of controut ba Payton ic late ora different breach of contrat}, Scanned with CamScanner“peed commrty can 499, Hoy peeny COMME EATL OH) } Redoction of the price. IF the goeds do oat ; cenform fo tng requirements of tho contact , ‘te bayer it entities fo mmdoce the price, io proportion . onlese the seller remasies the defect tart 809. . apipartie ore clays entities to cloim damages iF the other pathy fe I drench, regarolew of any + Jonoget W the gellge told the gende Crejecled by the boyer \ monelory som equal to the lose ms loee —fQ.anafner patty « he precceds of _sueh 4 cole wonis 4 ect ve deel tem any damages lame quoted _sequeice of the breach Cart 19, Thi fe torn o¢ mitigation of loss and He injored potty is required toteleoneaconabla. easter Jin thc yeapeck tA 77. Breath of contract pony best inlowy Damage sbicatory beats is when it becomes clear tbat sfeturor are: overdue), Vibe doe a} th _Stutolony tole, 4 Tele obligaions doe fo selon defences inte ‘revernion of te gongs = contoch fr prepering for their contract, tot gordyes be hoe ado foe nia tone party committ anticipatory breach , tue oinery yetepeitorencure: thatthe qoogs ara _prevere sory may sucpendepertoumanceof tbe conta, tranplet, IC anticipatory breach furor into fUncomentl breach, Seller t ben huyer delays taking celtvery dat ic, the party octoally, foils to_perfortn the. het gonde transfer / payne ato be coach of the oppsinles tine , haiiirs 204 cedare the contoch_aucl Scanned with CamScanner, wena Vv Now or doriage tothe goats afler ik Yas faced ty the Wayer doce ne dionye BaD froro Wigton fo poy the price , lew Ia ot dng ix doe 10 an oth or emian of ebvork incating fomge ® Controo speites the place : Rick porter when goods are given to the Cantey of thal place, {Contract doer nat ‘posit the place « Rick pouter when cellerpatces goose fo the Fish conten. © either wie tisk doee nok par umlete gosde are. Clearly identifies to the contract. Chapter \nlernotionn| bovine fonction ve and gaye Ob \ ir eller (Art 669, Cohroctt nck inetodion carrion Rick pote to the bayer when ‘ey take ovet the good sor, when the Goode are flow) of HA disposal 06 hey toni each by ne oucopting, them WF they ore placed ob theit Cicpora) erreuhene thor than the seller's place of toviness . the buy’ most be aware of it. IF the gowde 60 nob conform to quality ctondowde and the buyer is nob awore until ofter eh hot posted fo therm. the seller will clill be able for the Uock of confornity « Bille of laaie A Goods ore vival Kroniported fromm buyer fo volley by 0 itd pty, Che cen). fle, in padive the pichune i conplcted ty the fod) thal delivery an, be cobcontrocted . giving frie auction Bill of loging 1 coismeniKEUHS by the dthoehnorrin of the govdentortbempensorstthipper vith wiiermmtiey _Rejie"o-eonhoet to honependtherqooter International business fransactions Tit ad page Test yous vonderstonting 448A, 20, 22 and 28 Ovastions and Anwwets - Ovestion 16 “000 47 KAT 15. 18-490, 195, 87, 14D (ML aN 286 PP 1-2.9-3,74.7.5, 110.714, Bagh CDA ns ilo lagi ‘hipper 8 >| Woliv seller oe ly Buyer Lae 19) sey 7) — hransFer oF goote —— =>. A til of lading det Hares Frings : * Provides evidence thot the carrier reteived tne post trovides evidence of the contrac of carriage ~ Can be 0 doxument of title 40 goods The bith of lating fc therefore important in ascertaining when rice pavied to the. byger ernenbs Ateording to the model low , Hit Is when goods are yasied fo the fitct cortier ), Scanned with CamScannerPoyreent by tone fenefer : wy fork trnsfere WWCITRAL Model lean on Inlernottonel (redilTronafers+ \ Werora buyer intock, Cou, 190) ‘ heir bonk to dtonsfer ¥ i ing and receiving book ore in -Toaney 40 o'reteing bark, Aegulohes cesil troncfere when sending and % tuhore ib ic crediteg fo the ifferant elolec + seller. 7 Article 1. tb tc nok a mondotayy low Advontoge Creail tronefere Strolghhferteand to Tre see. of epealone msde Yo plea fond or benefony dipole. orange ond cary wu Leen order #0) incrporoler infection by a ender via th tk tg caer) 0. easung tent in onset couniry to place « fixed ot deteminebe mwerge Munk cF money of the eneFiany's dispoul of the benePeciony bene, %] Does nol have fo be arranged. ip persen, aig herefore scope for ont + frauds Higations of arin io pstentioh cred honsfer itdinn ado Sender Cinduding sender's bank) : Receiving bonk To poy the Texting tank, Th exztoe the sence, payment ore. ttt i The mmecel low ako slr out the porter Abigatione —_“art@pt’ ond fo tue a payment thok wil properly : implement the. payment orter rete ved. hen somebing goer wrong . such of: Mplemonk the poyment ore Ficlony. Laaution ef on unaired past te feos tine x Adiont relalng to 0 datecive pent tex To ploce the funoy ot the disposal of the boeneficiony Oey in payment Non: completion of a credi} fronufey Scanned with CamScanneryf Pen inutioment containing an order {8 0 bank to pay. eine vom Yo the POyee. vsvally en demand. 1 is ‘fernational and covered by the Convention if at least two of the drawer the bark or the poyce specified within ind ove in gifferent stotec Sctoontoges Convenient method af calletion [2] Provides immediate Finance / allowwe period of credit Ack ac a receipt Mag be ied fo pelea ation Payrun may be quoroieed Ay arrangement bebeen boots . buyer ond sllere to omrankee payment Arrangement oust be mode before the actuol stle of goots tober place Adoanager and disoouontages Solter receiv2s immediate payment Ruyerbor peiod of credit from bark >] [J J (N Combersome administration Aetiore of comfort Given by, porent company fo o'lender fo a sabidion. Papers 40 copperb fuhue oF cobsidiony yh inet Owwally binding: fomissoryy wate Essential with new. unknown cutlomenc Doge bil of enchage. - of_txchange 00 Injernationc (9 Convention on Internationa} i 0 fou othe bil Te poyge , whom poignant will be mode (eg {he seller > The homer, uo hot Invocled the gaynen) Cag the ye fhe drawee, who ig instiocled by The dower to poy ord uno ic nob Woble ontil the poytnent is owepted Too xteptor who acceptr liability 40 poy (o bok) 4 guorantor ray also be a forty. guorontecing pour” by the drawee! acceptor Transferring ‘an inbernational bil by Indead of recog poypent, the payee ag, hentfer the Hight to paypen to samebayy Yo whem they oue Taney, 1% thet oun copier) by endoreemen. endorsement Actert of cregit/ comfort Types of leer of credit Confirmed : ton will poy eyenit it te pol reimbursed : Uncefirned : there ino guarentee of poyinent. bub Loe it authentic Revocable + buyer con amend or cancel Loc cl ot time Irrevecable + cannes) be Omended without agreemt of alt Sondlyy + ured in conjunction uit other pogment ryelbeds, bub only call in iF hove payment. mer fail Reyeluing = wed in a wiinse of devling behweer pr ond eer. LC is clay. open ‘Tronsfe rable + allan payment 40 be honaferred 4o anoltor jewon Bock to bock + Fi} Loe from buyer fp seller ack o¢ seaurity for Loe from edie to bic supplier Scanned with CamScannerwow « Agengy. A relationship which exicl between two legal Peron: (principal a1 OF he agent la to form o conlract between the RAiBelpol ong qin parte . Agency, toy be created by: Agreement > Exprece Agent ic expresely appointey ey the prinsigal Cas in the example above’ Linplien Two poredne nly svxb relationships by Theit = conduch galiications- 4m eroviele offer! vale A principal can sotify the actione of onather to érente an, agency relotiontip offer tho event. Principal mock + _ Exisk when the contrac is moder Hove Legal copacity at thol_time+ Ratify within a reasonable time aaithio_o_ressonodle ee Rolify #he_whole conkrach- Coromunicole ratification clearly. estoppel ent) in wich the fonebion ” Chaplet & International business forine — agency Example govks A 40 tate p's shoes fo be 2 mended. har expressly osked Ato be bic agent for the purposes of mating t thot controch_uith the shoe, repairer. Types of agent * Rartoere ~ Promoters _ _Directore Factors Aprioneers + commercial agents Brokers Agony of necity” eae Where o_person who, when S faced with on emergency situation. inter | wmmere © pripcipal_holds oul to o bint parky ¢3P> expres rofcation Tiplied) _tetoppel eu "pot «person I their agent, = ove_estopped from denying: the agent's » Tic is agen ty extoogel » Jofernoton bbtiness Fray ageoeg. : “Poestions % Answers ~ Qoestion 18. 19.20 000 a BPP 8.3.97. “910000 83, z 5 Scanned with CamScannerAuthority of the oyent w ‘hy " Pr . . Te onto made by te opent je tintin. cn tbe principal ond the_dP only if he ogo nt ati Withio“ the inte “oF their g hotly from_the_prine pol. Hype of outhoty Acton! authori ® (epee A legal reciontbip Sotneen_prieipal 000.agon_ @ Lmplieo rocco | —] created by ccontensnel sgreemert to which they - alone ore_porligs © Caran) teen fe ogrt nt rina, np ary { Apparent / octencible authori he vaval avtronity of coch an agent ) can ever The authority that © princiol Cpe the agent) ee eee as greed between holds oul bro AP thot their agent boc, cae —+ The agent con therefore have more authority, than Te a moc} bave relied on the representolion , their oclval authority Gro resell oF what their even if this is joe) by altering theit_position Principal hos represented to 3p, Relationship wilh thira parties (2p) Pripcing Agent ‘be principal ie able 4o the: 8 for contact An agent generally hos no liobiliby’ on the centroct oa ; : formed. by on agent within their ado or 00 is not entilea to_enforce it. ostemible auth iy. Exceptions « Agent inteodeo 46. tote eronl_liobili Deval business Pochice for agent bo be lind y Ss "Ae i erkocion on it oun bho nt fer principal » | U 195 40 Ogent who exceeds their ovthority will hove. 20 lotility to the principal, bub the ggent will be liable to the thins forty ‘or breach of warranty of authority, Scanned with CamScannerChopler 7 Types of Basi ness Orgarisalion ‘ . ‘1 i such Lite ity fortnerhipe Cuter ove on tnosianl_ form af .pasnerbin for_pofesonls sue? Of ace vats. Too Key pigces of legislation are.» The Povtership Ack 190 CUNEO. 18909 The Limiled_liobility tarlnerzhip Act 2000. CT¢0,, 2000 Portnerchips The fortoersbip Act tego CHMIO . 1890), PANO CHO 1880), K portersbip is the relation which subsist betveen persons, arsying 06 a business in common with © view of profit, Lorporations con There most be ot Includes every trode. _Partders mutt be —_Portnerchlp con. i joiok proprietore’ - \bé lots. mateing » be portnere least, two porinere octypotion and joint pr X \ profession. Con be a ~_the jerk cone : single tonroction of intention Terwination Portoerchips con be very informol - in extence Wolets the porinerchip agréement state: ofbousise \ states ofporaice ‘bey ore formed when the forties agree tooth in porknerchipe may tevisinole = business togelber. 0n death or bontroptyy of o patiner However, they can be pub into place more So gyreament bebueen the purer: formolly, wild writen portnership opreements ond ~ Rocuing of Hime, the adoption. of a firm nome Porter aii Ce Mable for_eath other's ack Portners gre Wable for each other's ack under the roles of agency. ew partners: Liable for dette Howunred_ofter they become o poriner only. Retiring portners : Lonkinve to be liable for debt unless they have _givon_notice of retirement to each crasiton, 7 Scanned with CamScannerXe Fitm alt pan QW the patter’ haue Sctoal_ovibortly a BG We tron eaction relate to the Aino’ bouinert 2? No Noald a partner to a ir Foe eth item v1 0a 5 KL bove_ the authority vee to do thie 2 _ > Oid the other Potty koow . or hove Fearon the‘ pariner Wat no} o partner > | ; Yes \ : a Vio the ofber party know oF believe tho} tbe * tHe” wat poriner ? = 2 = i I NO 4 UNdividool ‘partner’ Hable Limiteo viability portoersbipe CLLPT Ao "UP" fs cots behoeen a company on6 a portnertbip. Curly partners have lnited lability» $0 LPs are_more, Tegulated thon p orinerchips To be incorporated, the subseriberc fo te LLP Companies + * The ome of the Lie The Locotion of its Tequtered office 110 fogland and wolee , ot in woler , arin scotland) ond ihr erase he Homer ond addresses of ql LLP 's inembere - : Who the Gesighated_members ore Fibo lake reapenibility for the _LLP's publicity requirement Invi} file the following defrils with. the Regio of Scanned with CamScanner\XQ TO poonerny tne Lu cerignotes memeert Wut fileScertain oclices with the egistrot . . Sign ong file_occounty Appoiok ovcitore # opmseptiotes Loony teen. pvtoe a ales oc om age of Ye plait (jo he 9 titer of ormpang > OOS Wherefore ¢ Othe (UP ty Yheit_acltone Scanned with CamScanner, Chapter $ : Casrotons an ig poy 8 Glmpanier Ack 2006 CTE, 26069 04 Nhe Sunll Boxinest , tulerprice ond _nployeneot Acl_ 3008 "C140. 90189 apy fo tic choplet ones ofterwice lab, MA Sole aders « 04 legal identi Sole haters Coinpanies Sole hadere_un ond ton iueinedies which are Companies ove legotsentibiesn separates fromthe hing churolepereonsyeonnecled ath tein. for example Aneltatnembers . Legal stabs of fole Nadere ‘Srporale legal personally Nov forwaltg The law vecognices 0 compong is « giahisehallegal? ‘ndeoandentenor9-veif--accountaility —_ * Betton coperwicto The camnpony i lidlesftalsadebleyond bos il Allprelitesacrventocownery ‘Cudnmnighimanaettyadioney y (Gener s wealtbalpricks Loi of « camping ond its members Sa | Core box, ‘| ~~ solomen Vso nore? The Enlowwon cave exabiehed to oxempangete key points to remember: “The corppany {s oblenwitboobplimn bom, roworeetic Momisate of the Company, do nol have to PO the deble of the Compong if iY feile Membert will bove to Pay any money still » oF ppden Toe te i Scanned with CamScannerTypes of company . ie i . Gnidia Public _ ) tao be i Fqvarniee = Sng oer guitar i Member diaitiyalimiadsan Cina} Winimom shore capitol 802000 empany's) Minimo omenininnsel / dworoinectond Tro Types + privates ond pubic Vorne mail end with ph | | fe Hou} hove a dragingucenibieahentosbrac : Vv - | Sasa a nite Noy nokapiiermwemrittew 10 he publies S| Members have anhimibeainirabl tity Wo sbinimomicopitolregoirementy tan only ever be « privaieacompany WninRRTONENNANNGTT cneiginelnr >» —_—Redoced giselagure and mayupuTenarensbores ome mest end ath cord AARON ‘ffomemmemnbore early . leaf Stototory examples of Cove low exoroples of, es «hing terueily Wfking the voll. givfora ator Co L40 v Horoe 193! Liabiitysfonsinadiogewithoutsa ——Tospravetheeuosionsols : | F— fe W ond others 1986 Wrasiogrcertificatecpubticy ilegalrebIigokion alt -Conshietion Go Ud v Bollock: FrSbOERAY one 1960 — ——— Re FG films Ho 1998 Diryeoufrennarettor ‘Pobliceinterante ~ Ebrahim! v Westbourne Galleries avorisspartnerships — _ > Groupentagant = Memo ond article: - Fee TERI Woy nee0 to chonge. the come, = shotements of proposed officers, complionce [BR] Need to transFer subscriber shores 0nd copital BD vo cisk of iiopitity avistog on pre incorpo folion controc! ‘ivale_compony : may commence bosiness FOMTCOMOMIROPOKON syystateomanmtbencertificate ; . sblic company . mush oblotn a IodingeeThFicake from the eRepiekrarmboforenitiswallowedtoatrode Scanned with CamScannerKey sooree 8f information 66.0. OF company, Sully gies wily tie 11 Componienenaie, Companies cre alse yoqite by "| oqoited by low to Leep a -Reg\slersof-amernbare oe of gaye aaganay oc) plan Ueguber of enple=ilty tgncantcenboh chs Woy toad be Keph al the compongy + rege Oreo Regier ol aiectore ona raeretation i MHA onother egivleted glace known 3.4 negara fat rectane vaxizen\ioh"arenoner ae Recars of ditetore” ueruce contrac snd Moate companies ore jernited lostielbaie sdndernitiesmy ee ee clahanmcnasseerttrioe, ennai “ sc men eee company somty >) The ve iter of irectore rresTdephial Tadd resteny is No} avoiloble to the public 40 Ube vegicher of director a director MOK Provide o gerBigeNGddTEtinslead of theif residential axiotore ‘Anpual-accounty : Actounting records The directors most for each accounting period : ‘The director ne The company, smosbosend ccrelorn-To-tne=Regitor? Girecloress=seerebaryrond=shorer " Scanned with CamScannereS OMB my 7 ‘ . POMES AG fOU0, WL LompOnY ¢ uoMLAiUHNUL) wINpINNS Hs UIEURS OF i auociabion os amended by Ax Yevlvtions of ogreemeni that t mates. - . \. \ COMPONY'S Objecl describe the octivities jy tmay take por) in. for most companies they are unlled but income companies {ney tay be reslicted. tb i important to understand the implications of breaching the objec . © The Companies Act 2006 , (180, 20069 and the Small gosinett . Enterprise ond Employment, © Ach 2015 Cho, 0189 Opp ly to Abe constitution of a compony, nec othermice. skoled. ° ‘Accompany entities The Neworandum of Aso Content of articles | : il pay | Te artides provide ine Centitotion. They define themulexsand meetings reglaane qoverirgetvertonogementacfsne, —- Menetenighen airsaotaeccompang . therrighicoftbey Memberssand thexpowerofethe:directorey A company troy adop} all or port of the relevant aololorg modeltatlicles . These contain oll toe items - mentioned here. | When a compony fails to cegisher mites . iF will be ovtormati cally given cagfaormmmagay ‘@tivley relevont to the type of the company formed. Companies may alto chooce to adOpHARGEMEticles onduamendmnem if ‘negruichsbynepesiolny (eealution. Scanned with CamScanneriRe aiitles may be omendedsbyrarcpeciol=, TEtolutionsor ataviNenereTlUtG with a 187 oqlori#YA owever, alterabii iy can be reduced by: © frovioing:memberewityeaditenar notes cd {HEY Can lek G5 “aeration! 5 Requiring « particolor member fo be presenl for @ qootum to exish. The member ‘Mog prevent ‘te meeting from being eld by absenting themeetues “ tabienchingys provisions. iowthencrtiles, Bis means speciligvarticlescan only be amended oF Temoveds if juertainsconditions Cibabsore:tnore w Restrictions on alteration Aterationt roy pol otonflich ufth he Kompom' Ades Wembers may nob be compoliedmito sobscribe f additional: shores or to accept increased: loviNiy Certain alterations -requite the cortech ight? \vesighionsprocsioro® 4s hove been followed iterations cannot alreooy acquired oy, performing oxeontrocb A person whose coptracbrisiicontained in the articles canno} prevent ib from being altered Ai allexations ate \aoidhitf tho: majority «PO (eatriclivestnan:a'spetialntesolation 2 arexmeh. “QPPREDETAHEIBore. nol aching sbonav fide i0 the ‘vberctterea obliva oited . Where © company ach in COnbOUEHHEnTotony relriclion: placed on the objects . the actions ore deemed «ultronuiresy” Stolutoy find porly protection re ular Sections 34 200 40 oF the Companies Ack 2008 give secoritystoncommerch,, ‘troncactioneiforslhindspatties, co they con.enforceroniulkarvina caotoc}. Were a fbitheparty deals with a company to good fails, uatstnereante ‘iwpoltvamuirerifor the Compony,. tde compongyicanndby argue’ thot the thing \Potlynsheuléshovesktown that the conhoc! wosjoltrarvitest irempontione Gre nok requiredmtonenquiremwhetbor» or nobthemobjectv ore teshicledandicary Company dbject i Ack 2006 0 companiyihias tupsesbrichecyobjects. This Tie olha vtec tle ei works kernal sbehoeen the Company 000 its Members. Ulha vires hoMiactions witha ditector, or i connechion witty l © citeclor . are woitable of the instance of the. company. oth people are deemed fo Enow they are ultra vitec, Scanned with CamScannerGare box ~————— Hicktoon uv Lent oF Rome The avicles bind memderestot Motch Sheep breeder. {nstheinscopocitnossngmbays Association 1915 E ‘Aebiosenatbarreapeet ae ceymentatsanan af oo Fleg v Positive Government COMPODMSAicitOF Aeoority Life Assoronce Co 1876 Wembors to members Ray Fieto v Hanae 1856 he atlicletsbinosthesmenbers-tomeoeh oh! Fang oubider motes. Leporotemcontrocbewith the Company, which ic silenbronio: point wuereanin ther articles , the oo thal specific: point’, ompony name : Stotutony rélec on company Nome Fatting off ~ . usasnomttamtinjeo> or pte) qustentaiteyy A Compony which ebelieveemitserighkibave-been, , ; Used sOnesnonesoKonoher ty) ‘cnoltersftormucingramnome, ~ 2 ealvenregicterscincidental words ore ‘qnored » i IF ih coucer ‘anfocicn inthe eyer of contmerg : He4 to be ‘offensive, * sonative: ina *Oplese butinesres oFeretfferent. : (GoseLboxy day if} topmpeed Ewing v Botfereup Margarine Co Lid 1997 ‘sr orqocteniemticensoeforosseeasIqy0%) A company can oT appeal tonine company womey Ushose objecit ore 40. promate commerce art {Aejovicators) it 0n08T, the _—— science , education , religion or charity ona i: Owels ore spenl promoting them z ' it ner sec - Scanned with CamScantid 4 Chapter 9 E : Capital and Fin THE Componien Rel 2006 Cfo, 2006) apd the Small Business, Enterprise and Employme Act o008 Gta, 20089 Oprly to thie chapter onlere otherwise sloled, Shores and capital Share capital N Ware is the interest of « shoreholder in jhe Company meavored by com of taney . for orpases of o Tobiity io the fitek ploce. and of intere’t in the feeond, , bub alio consisting ‘erie ef motool covenant entered info by all the shareholders It modl be poid for iabtity> 16 giver entillemenk to ieende ong teloro of copital Cinterec}> a rehalders (mubvol covenants > ic a torgein a The term Copitol. is used in several sense: in Company’ tegiclation . Loan capitol ——_ewed ond ll capil Cae. pod yp she" eopito Lovo capital cance. ewe shore cpl He ype, "Caled up chow epi ic he ebenturer or olber class, Auinber ond ammount of shares | amount “which ‘he’ company os iong term loon. issoe9 ond allied to specific, hover feted. Paid op shore capil shoreboldere . |i the moun} which -thoyeholdert Trove ackoniy. paid on the shore » ‘iscoed:on¢, called ope Equily shore capitol Preference shares, Eqoity ebove capitol it a tampang's istued shore _, treference chai Como fixed rate of diuigeny opitol lets capitol which corvies.preetentoh nie. paid in priority to any other dividend Eqotty shore copital noma, ‘comprises ordi ary tv [ shores.” Ordinary share “Orin shores ene the der foo conan reinoining divieble profike ond assets after prior investors Curesitore and preference shareholders ) have been palé in q liquidation. ™ Scanned with CamScannerRedeemanie shares Rede Smable ghater ore sbarec ireved by the COmpany thal is entitted to Ve purtboue ato later cote oN Rigi of proference snoa cS + The right to 0 dividend is bucally oe and doet nol mean the dividend most be ha annually In liquidation , holéexe are’ soally enti to unpaid dividend arreate ‘ There i no entitlement to participate ir dividends above tha fixed role bpt 107 Tre shores b or out of distributable ‘profi. The compony con reir thete shaver without the orval formdlitier . Class rights Companies have siceretion to iétve shaver whith have special rightc atloched to them. for e Teercing eulgende, elura/of capital in windiog’op . bollng 008-9 Vortotion of clase nights Variation of class rightt ipuslves an olteration “of the position of shoreheldere with regard to ‘hove benefity or dotiet wich they hove dy uirboe of their shores, Such a variotion con onl be made by the content of: The holders of their shorer ~ Remojority specified in the articles The stondord procedure for a variation of class rights ito special: revolotion C787. majority Cast al 0 aeparale meeting oF the holders or by uritlen conser! . : enn! of ein, Minority sight A minority ‘of holders of the, close of chore mow appeal to the court about a variation they: + Together hold > 154. of relovant: chaves * Hove nok contented to the variobion * Reply te the court within at days In order to be succecfol , the mainoriig ave | iN 0 seeking, advantage different clate, Whed variation Tights_do not apply etuing shares. in The close’ to olbers Sobdividing other clossee of chores Returning capital to preference sharebadet Scanned with CamScannerPublic componies and private companies with >1 clas of share * Tower given dg .rembere or general authority to allot, - Valve of shores Hse yale. They ean Be Tisued oF a premiom to the nominal value. Pre-emption righkt Fre- emption right ore the nighitiof texictingy “Sharebolderc)to ber offered any new ieeuer of «Ordinary shares prorrobapto theif existing” “balding : There ic Gererally a dobvtoy duty for companies ‘steeper fi ere Holeinge. This meant tho} thet UolingTpewer does” . Dob become dilvbed by the Issue, “Acroe-empony ny germaneny exude ‘Eieceuaonanbir In its ovticles by special reioltion UBitemojority For incividua iscuec Consideration for shares AL leost the nomincl value of the shores Share premsiom account, When shorer are ited of a premivm , Qccounl. Vier of share Pretmivin account : the premium is accounted for in Sharet have 4 nominal value ond musk nok be istued ab a discounb toy Rights iccoes A rightt cue. ii a Fightigiventorshoreholoy subscribe for forther shares in the cofhipeny . Bonut iseues rede “Arbonut istue is the Gpitolisationyofthe re ‘ssoiog abores at premium Sharer toy be iscved at a premio fo their Pominal velve but ‘Dever “ako discount, + plus the whole of ony premium touck be abloin io money or money's worth cath ot non - eqsty) . the shave premior To create folly paid shoret- under a. bonve iste To poy Teive’ eecle and commiccion in. rapeeh of a Dew share issue Scanned with CamScannerBorrowing ond . loan capitol ‘ — ed borrowing powers ~ % 4 ndve impli AN companies formed ender the Campane Ack 2006, Wve exon ni re eit ovvally Br HUTPotes incidental to Ihe trade oF burinese » TH in Me Fo: 1) Hl rectore breach Wat given to directore contained 19 Ihe articles. fuer if the direc aay SH os rights to enforce it loan copitol i ML long. term borrowing < Pevmonent overarofte ca red on cotn Secured ond unsecured. leant Debenture trot deed | Advantages of debentara bust The tey-advanboge sig Thabo body of - det aoe stock, holders are: represented, by one tres [Z] Trodtee intervenes ip defovlt, &l Troctee can congult all holders and ¢ agreement . setlirity can be legal “t Truslee appointed for: prospective hel ders + of debenture stock: Romina! amoonl ond repayment details sefined . Company enters covenants , eq about Secured ossets agreement thal certoin octivitier will a weg 4 il ook be canted ouk. Limits ot . Yoresholdc for cettoin financial ratios ‘hal tbe tompang may nob. breach, Rights of debentureholders ea Aitaegh totp cunstronferable company sewities, the Helpfoltpicanghaid ine nights of Cebenturehaldere with those of shareholder : . Factor Shareholder Debenturebolder fole |5 0 proprietor or owner of the Ik 0 ureditor-of thevainpong company ote Moy vole oF general meetings Hay oot vote Cost of investment Shares may not be iscued of a Debentures tay be offered at dicount disegunt Return “ Dividends only poid fiom dicti . Interest ‘mast be paid when butable ‘profile when directore it doe I declare them 4 Scanned with CamScannerft shareholder eevénturebader & ~ ‘ Premptian, Statutory, rerltictions of 1e6d- No restriction on redeeming . redeeming, chores debentures Liquidgtion tharehotdere ove the lax) peopla Debentures mutt be poid pack to be paid ina winding op before shares Advantages of debentures Dicadvorhages of devonturee TS) Eauity traded [x . Hoy, have to poy high interact rolet Terms cleat ano specific make them allractive vk Attelr under a Flooting, chorge may be toded Fopelor due to gooranteed income loterest poyments mondatory, "4 Inkeves} payments to dobentaretolderc Interest tax -dedddlible by, company optel shorenoldert if dividends Fall [7] wo resitictions on istue ot redemption ty Debentureholderc’ reroedies of oppoinue ng 9 wompany liquidatore or receivere: moy ‘Le cicoct . for the company Crystollisation of a loging chayge (am, trasing difficatties for o company oe Bel : ocr chorges Fixed charger A-charge is security over company casio which A fixeo charge is given to shepned creditor is given fo a tender. It is often given in the form ing to specific asset of the company NW giv ~ of o legol mortgage and giver the lender righir holder the ight ‘of enforcermen, agains) th cuer the ascels. Changes musk be registered to be specific ascel. VE ronke fitch in order of pr Valid. However, the debt ic stil valid even if the ip liquidation. Charge 16 ooh registered, Floating charge A Floating charge i given 00 a close of auselt which changes all the time due to itr noture ey stock). The actels may be vied in the cource of utinese until the holder enforces the chorge Fhe: Scanned with CamScanner/ . oe Temedies . ! Moating chorger eystonige cecomir fixed) io _‘indipa éuadvantoges of flon Until crystallisation: : ostets making. secarily, of uncertain : Achive ink i lewention of the charges log [x] Chargeholder is lest Itportonl thor creditors Certain -sitvotions | | , Scanned with CamScannerf fi f Pi pact f £ * Mavis prieuce Stati om pouty pois Sharoy Foy af part of poid ep thawe al out of surplus, auek Cancel paid -ep share Gpitot which hot been lox} So longer represented * by available aiseh The reduction must be approved’ by the Whal_noppant Lg. Company bar nomincl value 44 shores 19 paid op. Lilher (ay teduce nominal valor fo 1S¢ or Cb) reduce fotninal value to figure between THe and 44 Tq Compong redoces nominal value of fully poid shore from $1 Io Joe ana repoye thi ameucl to shareholders ty Compan bas $1 ominaliy fatty paid shares bul nel osrels only worth 80¢ per share, difference + debit balance on Teserves. Company reduces nominal value fo 50c . and applies amount to wtite off edit bolonce Dividends Compony giver op © for omaunt nol paid (no retutn to shavehot Acrets of company ot resuced bby aoc ied | Company can reiume poymenks out of fulu profiby witho) having mote. gore post lowes. hor gout profeck tres inberest of creiton lable reierves ore: shove preitiom ‘et Ue 0nd an ober reIUe- mode? . ~ Untibees by tou or tne company's Scanned with CamScannerWU rye 3 Chapter 10 a 195-9 4 fok + Bere . ¥ aw & See yet 4 See Diveg Ral un tbe company ox ike agents Wey ove officote of the company, and may be “AeLallioe or nop. erecutives, Wormatiy one director acts ai Managing: citevor. { Diectors’ powers ore wvallyy sel by the articles : : Members have some control though theit oppoiolmenb! 1 removal of directors and by Shapaiog_ toe antes Directors are ogenkeroF the compony. Third parkies have protection dealing with Yem Directors have Gates) os agents of the compang . They alo hove duties under voriovs Diveclors ee ori at © ComponieiTRch) 2006 CSO, 26069. ond etool-eocines., tnbrprse and Employed! | Aci 201 C180, 20159 apply to this chopter unless otherwise elated . Directory de jure director N’ person who i¢ recponsible for the overall A person who is expressly appsinled by the Gxrection of the company's offaise. al companies company as 0 diteclor. tock have atileaskiong. Public companies 283 De facto gicector hoo. A director is an officer/of tbe company. A percon a hold ou by & company to be. AL leost ope divector most be oxpoturaliperon: §—g director ond who performs the. functions of Shadow direclor @ director although they have not been wolidl J person whose ioshoctions the olber directors ApDoinved-at such. ave_accustomes to follow. This tole ic in place ‘De facto non-executive / shogoin divtlows to prgvenlio person fiom nol toting op Sill ewe stoubory og fidoetony sectors’ apgrintinent os a director , bal ocing their ‘duties. position Céng ox major sharebolder) to eo ia manipulate. the boar of direclore. Scanned with CamScanner