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

Corporate Law For Managers - Essay ExampleIn the past, this type of contract was considered as rather risky the closing of the incorporation procedure was not always guaranteed - a phenomenon also common in modern market. The introduction of the Companies Act 2006 led to the increase of the safety of the unique(predicate) type of contract in the section 51 of the in a higher place Law it is noted that the person who acted in behalf of the firm or as its agent is considered obligated 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 protection of the interests of the party that sign-language(a) 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 framewor k for the protection of the rights 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 necessary to refer principally to the concept of incorporation in accordance with Cross et al. (2007, 13) the incorporation process requires the development of articles of incorporation (sometimes called the bodily charter or certificate), which is publicly available and becomes something wish 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 law as the finishing 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