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1. “As an economic entity, a firm fundamentally serves as a nexus of contracts: a single contracting party that coordinates the activities of suppliers of inputs and of consumers of products and services” (HANSMANN AND KRAAKMAN).
Discuss the core feature of a company which facilitates the above function. Analyse the instances when courts have upheld exceptions to this feature.
2. Critically analyse how the courts have interpreted the right of a company, as a separate legal personality, to enforce certain fundamental rights.
3. Discuss the role of a promoter in the process of incorporation of a company and issues relating to enforceability of pre-incorporation contracts.
4. “The Turquand’s rule is in direct contrast to the doctrine or rule of constructive notice.” Analyse this statement with the help of case laws.
5. “This Court has taken the view that provisions of the Shareholders' Agreement imposing restrictions even when consistent with Company legislation, are to be authorised only when they are incorporated in the Articles of Association, a view we do not subscribe.
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