company lawpre-incorporation contractsproperty transferdeeds registration
legislation
Statutes Cited
Companies Act [Chapter 24:03]
Deeds Registries Act
ai analysis
Case Summary
Key Issues
{"issue_text":"Whether a company can ratify a pre-incorporation contract under common law as a stipulatio alteri without complying with section 47 of the Companies Act","issue_type":"mixed","dispositive":"yes","related_facts":"Contract entered by trustee for company to be formed; section 47 not complied with"}
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background
Facts of the Case
Background
The first applicant entered into a sale agreement as trustee for a company to be formed. After incorporation of the second applicant, transfer documents were lodged but rejected by the Registrar who required compliance with section 47 of the Companies Act. The applicants sought court order compelling registration without compliance with section 47, arguing the contract was a stipulatio alteri enforceable at common law.
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