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Total Marks 5
Starting Date Wednesday, July 16, 2014
Closing Date Thursday, July 17, 2014
Status Open
Question/Description

 

Fast Fly Company is a manufacturer of small sized commercial aircrafts located in Karachi.  Company’s memorandum clause contains that the objective of Fast Fly Company is to manufacture and sell commercial aircrafts to other companies whereas if the company has to take any decisions beyond the conditions contained in its memorandum, than alterations can be made through special resolution.

Fast Fly Company agreed with another company that they will provide them loan to build facilities for the expansion of business. Later fast fly company disowned the agreement and got sued.

Question:

Is this agreement between Fast Fly and other company valid, void or else? Discuss in the light of Companies Ordinance 1984.

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Replies to This Discussion

I think void hoga because Fast fly nay withdraw kar diya hai

nahin kion k kisee dosree company ko qarza dainy k liey Non banking finance company hona zarooree hay. es liay viod hay

yeh notes main kidhar likha hai

mainy is dafa koi 1 b lecture kisi b subject ka nai liya 

is liye kuch b samjh nai aata

Lesson 28

Establishment of non banking finance company & winding up of companies

i think this contract is valid contract bcz valid contract is an agreement enforceable to law. In such contract of a contract as mentioned in section 10 are required to be fulfilled.......

And in this case the contract by one party the other party has a right to file a suit for this breach......

agar ya void ha to plz aur explain karyain but mara khyal main this contract is valid and main na explain bi kya ha......

navid ahmad

agar ap 28 lecture kah rahan to usa phr explain bi karyain kasa ha ya void contract....

lecture#28 is non-relevant for this GDB discussion 

void ku k companies ordinance main aisa koi concept hi nai k 1 company kisi 2osri company ko loan dy dy mujhy to lagta hai yeh agreement na to void na hi valid ...avain eee hai....amendment b comapny ny apni resolution my ki na act main...

likh do pher ye koi b agreement ni ha 

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