https://www.taxtmi.com/caselaws?id=97027 Pre incorporation and post incorporation expense claims were assessed against the statutory rule that contracts entered before a company is entitled to commence business remain provisional and do not bind the company until entitlement is attained; applying that principle the article concludes there is no basis to imply a promise to pay pre commencement expenses where the company never became entitled to commence business, and therefore such claims cannot be admitted in liquidation. The operative effect is deletion of the claimant's pre incorporation claim from the list of debts and claims and denial of recovery under general contract principles when statute precludes a binding obligation. en-us Wed, 09 Feb 1949 00:00:00 +0530 Fri, 13 Jan 2012 17:02:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97027 Pre incorporation and post incorporation expense claims were assessed against the statutory rule that contracts entered before a company is entitled to commence business remain provisional and do not bind the company until entitlement is attained; applying that principle the article concludes there is no basis to imply a promise to pay pre commencement expenses where the company never became entitled to commence business, and therefore such claims cannot be admitted in liquidation. The operative effect is deletion of the claimant's pre incorporation claim from the list of debts and claims and denial of recovery under general contract principles when statute precludes a binding obligation. Case-Laws Companies Law Wed, 09 Feb 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97027