The Significance of Promoters and Enforcability of Pre-Incorporation Contracts

We will be discussing promoters in detail and pre incorporation contracts along with its enforceability in light of important case laws and Pakistani legislations.

Table of Contents

• PROMOTERS
• PRE-INCORPORATION CONTRACTS

Objectives and Key Themes

This text aims to explore the role and legal implications of promoters within company formation. It delves into the nature of pre-incorporation contracts, examining their enforceability and the associated liabilities of promoters.

• The Definition and Fiduciary Duties of Promoters
• The Legal Status of Pre-Incorporation Contracts
• The Liability of Promoters in Pre-Incorporation Contracts
• The Ratification of Pre-Incorporation Contracts by the Company
• The Legal Framework and Key Case Laws in Pakistan

Chapter Summaries

• PROMOTERS: This chapter provides a comprehensive definition of a promoter and their role in company formation. It examines the historical development of the term and analyzes the key fiduciary duties owed by promoters to investors and the company.
• PRE-INCORPORATION CONTRACTS: This chapter explores the legal status and enforceability of contracts entered into by promoters on behalf of a company before its official incorporation. It examines the challenges associated with such contracts due to the company's non-existent legal status. The chapter also investigates the potential liability of promoters for breaches or fraud in these agreements.

Keywords

This text focuses on key concepts such as promoters, pre-incorporation contracts, company formation, fiduciary duties, legal liability, enforceability, and relevant case law in Pakistan.

Details

• Grade: A
• Author: Ayesha Masood (Author)
• Publication Year: 2019
• Pages: 9
• Catalog Number: V1353837
• ISBN (eBook): 9783346874009
• Language: English
• Tags: Promoters Company Pre-Incorporation Contract Enforceability General Rule.