Aritcle Of Association| Lawyers

1. Concept Of Articles Of Association Articles of association internal affairs or rules of a company. Articles of association of a company are terms of contract between the members and these terms are legally binding upon the members. Sec 2(1) (26, 28), 34 of company ordinance 1984. The articles of association are the regulations or by laws which governs the internal  organizations and conducts of company. 2. Procedure Of Aritcles Of...

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Conversion Of Company| Law

1- Concept of conversion:               Conversion of a public company into private company and private company into public is basically to change the liability of its members and their rights. Company ordinance provides the procedure for conversion along with its effects. Section 44 to 45 of Companies Ordinance 1984                There...

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Conflict Of Interest| Law

     Conflict of interest means incompatibility between once interest and his public duties. Once person shall be deemed to have an interest in a matter, this interest must give rise to conflict between his duties to perform his function. Sec 16, 17 SECP Act 1997  A real incompatibility between once private interest and his public duty. Means the act or process of making interest that was previously unknown...

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Formation Of Company | Education

                      Formation of company is an act of registration a corporate body for the purpose to build an artificial person. A company can be formed through its, permition, incorporation, subscription and at last commencement of business  i- Company ordinance 1984 ii- SECP 1997 “Union or association of person for carrying...

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Indoor Management| Legal Education

              Doctrine of indoor management is opposed to the doctrine of constructive notice. It is a check on the management of the company. The persons who come in the sight to deal with the company may presume that the internal affairs of the company are running smoothly.  It means that a person instead of having knowledge may presume the internal affairs of the company...

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Debenture| Legal Education

                     The public company issues share and debenture for raising capital. A share holder becomes the member of company while debenture holder is not a member of company debenture is a contract of debenture.  Debenture includes debentures stock, bounds, finance, certificate and any other securities other than a share of company weather constituting...

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Asylum| Law

Asylum is quite opposite of extradition. A states liability to grant asylum is of ancient origins. Every state has preliminary right to grant asylum unless it has accepted some particular restriction in this regard for example a treaty of extradition would be reasonable check on the right of asylum to the extent of the treaty. The word asylum is Latin word and derived from a Greek word asylim which means unavoidable person.  A sanctuary...

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