a)James and Shem proposed to form a company by the name “Micromine Limited”. On behalf of the proposed company, Shem entered into contracts to purchase office furniture and stationery.
Required:
i)What are the company’s rights and liabilities under such contracts after incorporation? (6 marks)
ii)What provisions for the protection of Shem are found in such contracts? (4 marks)
b)Discuss the doctrine of ultra vires and state the exceptions to the doctrine,
(10 marks)
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