ipl-logo

Case Royal British Bank Vs Turquand

1046 Words5 Pages

I. RELEVANT FACTS: • Turquand was a company which had a particular clause in its Constitution. This clause allowed the company to borrow money on its approval and on the passing of a resolution by the shareholders at a general meeting. • Turquand then entered into a loan with the Royal British Bank. Two of the directors of the company signed and attached the company seal onto the loan agreement. • The company had also given a bond for 2000 Pounds to the bank which secured the Company’s drawings on its current account. • However, the loan had not been approved by the shareholders. • The company then defaulted on the repayments. This made the bank seek for restitution. • The company refused to repay on the occurrence of this situation. It claimed that the directors had no authority to enter into a loan agreement according to the Articles of Association of the company. The company claimed that the bank had constructive notice of the shareholder approval clause in their constitution, no resolution was passed and hence the company is not liable. • Directors only had the power to borrow up to an amount that was authorised by a company resolution being …show more content…

Turquand came up before the Court of Exchequer Chamber through an appeal filed by the defendant, Turquand. Turquand was the official manager of Cameron’s Coalbrook, Steam, Coal and Swansea and London Rail Company. He was sued by the Royal British Bank (plaintiff), for the non-payment of a sum of 2000 pounds. The plaintiffs argued that the company was bound to pay the above sum since a bond bearing the common seal of the company was given to the bank. This was also attested by two directors. The decision of the Court required Turquand to repay the loan to the bank. The bank was allowed to assume that the loan document was legitimate in nature. The parties dealing with companies have the right to presume that the internal processes of the company have been properly carried

Show More
Related

  • Bounds V. Smith Argumentative Essay

    409 Words  | 2 Pages

    The case was heard in District Court and the respondents’ motion

    Read More

  • Husky International Electronics Inc. Vs. Daniel Lee Ritz Case Summary

    700 Words  | 3 Pages

    To recover losses from the debt owed, Husky filed a complaint in the bankruptcy case of Ritz, arguing Ritz’ transfer of assets form one company he owned to the other, is “actual fraud” under the Bankruptcy Code’s discharge exceptions 11.U.S.C.. §523(a)(2)(A), and does not negate his liability to Husky. The District affirms Ritz was liable under state law, however the debt did not originate by “actual fraud” and could be discharged under bankruptcy. FACTS In 2003 to 2007, Husky International Electronics, Inc., supplied components used in electronic devices to Chrysalis Manufacturing Corp., when the respondent was the Director, resulting in a debt of

    Read More

  • Case Study: Mcfadden V. Seagoville State Bank

    498 Words  | 2 Pages

    The regulation states, an employee must be restored to a position that is geographically proximate to their previous position. Furthermore, it is an interference of an employee’s right, to which he or she is entitled under FMLA, by failing to restore him or her to an equivalent position upon return to work. 29 C.F.R. § 825.215. In the case of McFadden v. Seagoville State Bank, the employee’s previous job before taking FMLA leave required a seven mile commute one way, which takes ten minutes to drive.

    Read More

  • Billy Buyer Case Summary

    506 Words  | 3 Pages

    The Plaintiff did not fulfill her contractual obligation to negotiate her claim with the Defendant prior to filing the lawsuit. The Defendant affidavit is attached herein. CONCLUSION Based on the foregoing fact, and as the Plaintiff did not fulfill her contractual obligations, Defendant requests the Court to dismiss this case complying with forgoing New York federal court decision. Date: New York, New York June 18,

    Read More

  • Summary Of Australian Competition And Consumer Commission V Ticketek

    1356 Words  | 6 Pages

    Michael Terceiro, 'ACCC v Ticketek - a non-event?' (2012) 64(3) Keeping Good Companies 158-161

    Read More

  • Case Brief Of R V Gudgeon

    902 Words  | 4 Pages

    Case Name and Citation R v Gudgeon [1995] QCA 506 Court and Judges Queensland Court of Appeal: Fitzgerald P., McPherson J.A., Thomas J. Parties Appellant: Maxwell Gudgeon, Defendant during the trial Counsel during appeal: C.E. Holmes Respondent: The Queen (State) Counsel during appeal: R.V. Hansom Q.C. with him D.C. Boyle Material Facts The appellant, a former New South Wales police officer, was sentenced to imprisonment in New South Wales in 1986 for his involvement in a serious drug offence, and he was in prison there from April 1986 until he was released on parole in January 1991. The present appeal relates to his conviction in the Trial Division on 31 August 1994 of an offence which was stated in the indictment in the following terms:

    Read More

  • How Did Roger Taney Respond To The Expiration Of The Second Bank

    357 Words  | 2 Pages

    Roger Taney was first appointed as Treasury Secretary after first being President Andrew Jackson's legal advisor and attorney general. Due to Jackson's distrust of financial institutions that occurred throughout his life, this fueled his concerns of the constitutionality of the bank in congruence with paper in placement of money. The distrust and belief led to Taney's advisement on how to terminate the bank before its charter would expire (The War Against the Bank, para. 4). Taney drained government funds by putting the funds into smaller, state chartered banks, thus rendering the second bank ineffective and ultimately the charter expired (Bank War, para.2-3). By assisting Jackson in the expiration of the second bank, Jackson appointed Taney

    Read More

  • Court Case Of Harold James Blackburn

    1230 Words  | 5 Pages

    In 1989, former NSW police superintendent Harold James Blackburn was arrested and charged with 25 crimes under the Crimes Act 1900 which took place over a matter of nearly 20 years (New South Wales 1990). The charges included the crime of rape at Georges Hall in 1969 and sexual assault at Sutherland in 1985, as the Crimes Act 1900 had been updated during the periods of time that the alleged crimes took place (New South Wales 1990). When the case was presented to court in 1989, the Director of Public Prosecutions offered no evidence and the magistrate discharged Mr Blackburn on all charges (New South Wales 1990). A royal commission was established in 1990 to investigate the events and determine how an investigation could have failed to the

    Read More

  • The Case Of Thurman Vs. Torrington

    482 Words  | 2 Pages

    Thurman V Torrington is about a wife whom has suffered from many years of abuse and harassments from her husband. Throughout the many years of this abuse Mrs. Thurman has called out for help in which she never received. Even though her husband was arrest once it never ended until it was too late.   What is Abuse? It is the hurting of one mentally, physically, emotionally, and verbally.

    Read More

  • An Overview Of Canada's Exclusionary Rule

    695 Words  | 3 Pages

    Canada: A Comparative approach It seems fair that, following a critical analysis of the law in JC, another jurisdiction should be considered in order to facilitate a proper outlook on what may be needed, and what has worked elsewhere. This section is intended to outline the operation of the exclusionary rule in Canada. The Canadian courts rely on legislative enjoined exclusionary rules that are justified by judicial integrity.

    Read More

  • Principles Of Contract: Offer And Bilateral Offers

    3946 Words  | 16 Pages

    However, it must be determined whether Das’s promise to come until Monday constitutes sufficient consideration. Since, no deposit was made that is there was not sufficient consideration. Das would have to prove that he gave some sort of consideration to Ali to keep the offer open and if Das has taken a bank loan, the court may consider it as a valid consideration. Otherwise, the agreement does not stand according to the law. Therefore, Das cannot have any legal action against

    Read More

  • What Is The Case Of R. V. Bann-Verdict Rationale

    1822 Words  | 8 Pages

    R. V. Bann - Verdict Rationale In the case of R. V. Bann, Bobbie Bann, the defendant, was charged with second-degree murder. Around the 14th day of June, the year 2015, in the City of Mariposa in the County of Missinaba, Mr.Bann committed second-degree murder on Fallon King, who was in the bathroom when she killed by gunshots. During the trial, it was a little confusing, the defense side was making objections almost the entire time, and it is a little difficult to follow, however, I did manage to found some evidence that indicates that Mr.Bann has murdered and caused the death of Ms. King.

    Read More

  • Gnych & Anor V Polish Club Case Study

    879 Words  | 4 Pages

    Throughout the court case Mr Reynolds was asked quite a lot of questions and he replied to most of it with ease providing resources and proof to back his argument. Test applied: Firstly MR. REYNOLDS described to the judges all the laws that Polish Club limited breached.

    Read More

  • Court Case Study: R Vs. Kieran Loveridge

    800 Words  | 4 Pages

    R v Loveridge 7th July 2012 Introduction Kieran Loveridge, the offender, pleaded guilty to an indictment containing five counts of offending, all of which occurred on July 7, 2012 in Kings Cross, a suburb of Potts Point. There are three charges of common assault, one charge of assault causing actual bodily harm, and one charge of manslaughter by an unlawful and dangerous act. The offender was in Court on October 25th, 2013 to be sentenced for each of these offences. Offender's charges and sentence For the third count, assaulting Matthew Serrao, the offender was sentenced to four months in prison, beginning on September 18, 2012 and ending on January 17, 2013.

    Read More

  • Role Of Corporate Governance In Nestle

    1346 Words  | 6 Pages

    As stated in Principle 1, The Board of Directors directs the Group’s risk assessment, strategic planning, succession planning and financial and operational management to ensure that obligations to shareholders and other stakeholders are understood and met. The board of directors has a collective responsibility for the management of the group to make sure the group is on the way to approach to their objectives while the non-Executive Directors are responsible for bringing independent judgment and scrutiny to decisions taken by the Board of Directors and providing objective challenges to management. Besides, the board of directors also function as formalising and adopting a set of Code of Ethics through the Code of Conduct as Recommendation 1.3 as stated in the Malaysian Code on Corporate Governance 2012 to make sure its compliance, establishing an appropriate set of corporate disclosure policies and procedures and ensuring a whistleblowing mechanism is in place. The Board of Directors recognizes the importance of independence and objectivity in its decision making process. The Directors are professionals of high calibre and integrity and possess in-depth knowledge and experience of the business to enable them to discharge their duties effectively.

    Read More

More about Case Royal British Bank Vs Turquand

Open Document