Match Each Word with Its Definition

question 24

Multiple Choice

Match each word with its definition.
-Extempore.

• A) The court did not reserve its judgment but gave its decision and reasons as soon as the parties had completed their submissions to the court.
• B) Meaning 'the court wishes to be advised'. This means that the court took time over reaching its decision by reserving judgment to a later date, rather than providing a decision immediately after the parties had completed their submissions.
• C) This is the equivalent of cur. adv. Vult. used in reporting decisions of the House of Lords/Supreme Court.

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Definitions:

Pre-Emptive Right Provision

A clause usually found in a company's charter or bylaws that gives existing shareholders the first opportunity to buy new shares before they are offered to the public.

Authorized Capital

The maximum amount of share capital that a company is authorized by its corporate charter to issue to shareholders.

Treasury

A government department responsible for managing the financial resources, including revenue collection and expenditure.

Corporation Not Bound

Indicates a scenario where a corporate entity is not legally obligated or tied to an agreement or contract.