A Ltd. Co. issued and published its prospectus to invite the investors to purchase its shares. The said prospectus contained false statement. Mr. X purchased some partly paid shares of the company in good faith on the Stock Exchange. Subsequently, the company was wound up and the name of Mr. X is there to pay the unpaid amount? 1. Whether Mr.X is liable to pay the unpaid amount? 2. Can Mr.X sue the directors of the company to recover damages for containing false statement in prospectus?
Answers
Answered by
0
Answer:
(a) Mr. X is liable to pay the unpaid calls.
(b) Mr. X can sue the directors to recover damages.(a) Mr. X is not liable to pay the unpaid calls.
(b) Mr. X cannot sue the directors to recover damages.(a) Mr. X is not liable to pay the unpaid calls.
(b) Mr. X can sue the directors to recover damages.(a) Mr. X is liable to pay the unpaid calls.
(b) Mr. X cannot sue the directors to recover damages.(a) Mr. X is partly liable to pay the unpaid calls.
(b) Mr. X can sue the directors to recover damages
Similar questions