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- 8 Marks
Question
Identify FIVE (5) situations in which a company can be ordered by court to wind up. (8 marks)
Answer
- Suspension of authorized business for a whole year.
- The company has no members.
- The business or objects of the company are unlawful.
- The company is operating for an illegal purpose.
- The company is unable to pay its debts.
- If the court determines that it is just and equitable.
(4 points @ 2 marks each = 8 marks)
- Tags: Company Law, Corporate Insolvency, Court Order, Liquidation, Winding-up
- Level: Level 1
- Topic: Contract Law
- Series: NOV 2018
- Uploader: Dotse