FOR INDIA'S BEST CA CS CMA VIDEO CLASSES CALL 9980100288 OR VISIT HERE
PREDICT YOUR RANK!
Answer below questions and predict your rank
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

“A company cannot enter into a contract before it has come into existence” comment.

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

Hi, Can you explain me about “A company cannot enter into a contract before it has come into existence” comment.

    0       0 Answer Now Comment Report
6 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Lot of companies had their own updates on contracts for having an existence. That may possible with the 123helpme com reviews for their business developmentt. Every update is help them to get the new answers for all classes.

    0       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Since the pre-incorporation contract is a nullity, even the company can not sue the vendor of property, if he fails to carry out such contract. In India, However, Section 15 and 19 of the Specified relife act, 1963 have considerably alleviated the difficulty.

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Pre- incorporation Contracts are contracts purported to be made on behalf of a company before its incorporation. Before incorporation, a company is non- existent and has no capacity to contract. Hence a contract, by a promoter purporting to act on behalf of a company prior to its incorporation, never binds the company because at the time the contract was concluded, the company was not in existance, The promoters alone, therefore, remain personally liable for any contract they purport to make on behalf of company. Evev a company can not rectify a pre-incorporation contract. However, it is always open for a company to enter into a new contract after its incorporation to give effect to a contract made before its formation. That is called novation of propmoter's contract.

    1       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Evev a company can not rectify a pre-incorporation contract. However, it is always open for a company to enter into a new contract after its incorporation to give effect to a contract made before its formation. That is called novation of propmoter's contract.

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Evev a company can not rectify a pre-incorporation contract. However, it is always open for a company to enter into a new contract after its incorporation to give effect to a contract made before its formation. That is called novation of propmoter's contract. Since the pre-incorporation contract is a nullity, even the company can not sue the vendor of property, if he fails to carry out such contract. In India, However, Section 15 and 19 of the Specified relife act, 1963 have considerably alleviated the difficulty.

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Pre- incorporation Contracts are contracts purported to be made on behalf of a company before its incorporation. Before incorporation, a company is non- existent and has no capacity to contract. Hence a contract, by a promoter purporting to act on behalf of a company prior to its incorporation, never binds the company because at the time the contract was concluded, the company was not in existance, The promoters alone, therefore, remain personally liable for any contract they purport to make on behalf of company. Evev a company can not rectify a pre-incorporation contract. However, it is always open for a company to enter into a new contract after its incorporation to give effect to a contract made before its formation. That is called novation of propmoter's contract. Since the pre-incorporation contract is a nullity, even the company can not sue the vendor of property, if he fails to carry out such contract. In India, However, Section 15 and 19 of the Specified relife act, 1963 have considerably alleviated the difficulty. Section 15(h) provides that where a pre-incorporation contract is warranted by the terms of incorporation of company, The company may, if it has accepted the contract and has communicated such acceptance to the other party to the contract, obtain such specific proformance of the contract. Similarly, Section 19(e) provides that specific proformance may be enforced against the Company by other party to the contract under similar circumtance.

    0       0 Comment Report
Similar Questions
Get Notifications
Videos
Books
Notes
Loading
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.