under the Companies Act. It means and implies a division of the share capital into defined shares of a particular value or or of different classes and assignment of such shares to different persons. What is a share? A ‘share’ means a share in the capital of the company. Section 82 of the Companies Act, 1956 describes share as A movable property, transferable in the manner provided by the articles of the company. What is a share certificate? Section 84 of the Company’s Act, 1956 describes a
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which a transfer of any such shares, debentures or debenture stock is lodged with the company, complete and have ready for delivery the certificates of all shares, the debentures and the certificates of all debenture stock allotted or transferred, unless the conditions of issue of the shares, debentures or debenture stock otherwise provide. For the purpose of this subsection, the expression “transfer” means a transfer duly stamped and otherwise valid and does not include such a transfer as the company
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RBI Act 1934 2. Banking Regulation Act 1949 3. Negotiable Instrument Act 1881 4. Indian Contract Act 1872 5. Indian Partnership Act 1932 6. The Companies Act 1956 7. Consumer Protection Act 1986 8. Banking Ombudsman Act 2006 9. Transfer of property Act 1882 10. Foreign Exchange Management Act 1999 11. Indian Stamp Act 1899 12. Code of Civil Procedure 1908 13. Banker’s book Evidence Act 1891 14. Information Technology Act 2000
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Article 1458: Contract of Sale By the contract of sale one of the contracting parties obligates himself to transfer the ownership and to deliver a determinate thing, and the other to pay therefor a price certain in money or its equivalent. A contract of sale may be absolute or conditional. Essential Requisites The contract of sale, being a contract, has the same requisites, namely, consent, object, and cause. 1. Consent - Also called meeting of the minds. mutual agreement, or consensus
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between Environinvest Ltd versus their former directors, members of the Pescott family and associated companies that are owned by the Pescott members and associates. There are two types of proceedings in this case, the Properties Proceeding and the Options Proceedings. Properties proceeding relates towards the lands formerly owned by Environinvest Ltd that had been allegedly sold or transferred to the defendants without receiving full purchase price of the land or receiving less than the purchase
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South Africa © 2011 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org All rights reserved. 1 2 3 4 08 07 06 05 A copublication of The World Bank and the International Finance Corporation. This volume is a product of the staff of the World Bank Group. The findings, interpretations and conclusions expressed in this volume do not necessarily reflect the views of the Executive
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Property Outline 1. Concept of Property a. Res = a thing or object, a piece of property b. 6 theories used to Justify the private property system i. The Economic Theory 1. Private rights arise in property based on external cost factors seeking to maximize societal efficiency ii. The Occupation Theory 2. Occupation or Possession of a thing justifies legal protection iii. The Labor Theory 3. Moral right to ownership
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Flat Ownership Act (Mofa) Home ›› Resources | Flat Ownership Act (Mofa) I. Introduction 1.1 The Maharashtra Ownership Flats(Regulation of the Promotion, Construction, Sale, Management and Transfer)Act,1963(“the MOFA”)has been enacted to regulate the promotion, construction, sale, management and transfer of flats sold on an ownership basis within the State of Maharashtra. The MOFA is an important piece of legislation as it lays down the responsibilities of real estate developers / builders in
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This question requires the consideration of the rules relating to the passing of property and risk in consumer contracts. ‘Dealing as a consumer’ was defined in the section 12(1) of the Unfair Contract Terms Act 1977. Passing of property means passing of title and ownership of the goods from the seller to the buyer. Usually, passing of property happens when some sale is made. In this matter, it is very important to identify when exactly the ownership/title has passed from the seller to the buyer
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Code (UCC) Legislative History On September 21, 1957 Massachusetts adopted the Uniform, Commercial Code. Effective October 1, 1958, the Code replaced the Uniform Sales Act, the Negotiable Instruments Law, the Uniform Warehouse Receipts Act, the Uniform Bills of Lading Act, the Uniform Stock Transfer Act, the Uniform Trust Receipts Act, and numerous other statutes. Massachusetts thus became the second state to enact the Code, following the lead of Pennsylvania, where the Code, enacted in April 1953
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