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Company Law Law 30023 Assessed Coursework 2005-6 Legal Positions A company does not come into existence until the promoter/s have completed the registration requirements and the Registrar of Companies issues a certificate of incorporation. Prior to this a company cannot be bound by contracts entered into in its name or on its behalf. The common law addressed this problem by applying settled principles of contract and agency. Charles signs a contract on behalf of the company with Clucknosh on February 1st, this was carried out before the company became incorporated on March 1st. This is known as a pre-incorporation contract, this is a practice that is quite common with new businesses when establishing suppliers and premises etc. before the company is officially aloud to start trading. In the case in hand, William and Harry refuse to pay Clucknosh. The problem that arises from pre-incorporation contracts is whether or not promoters can avoid being personally liable...

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