https://www.taxtmi.com/caselaws?id=102086 A company may be bound by a family settlement and partition agreement, even if not signed in its name, where later conduct and corporate records show acceptance or ratification of the liability. Balance-sheet entries describing the sum as a current liability, together with notes reflecting acceptance of assets and liabilities under the settlement, were treated as strong evidence of acknowledgment of debt. A bare denial in reply, unsupported by facts, was rejected, and an ultra vires objection raised without proper factual foundation was not entertained. On that basis, the company was treated as having acknowledged the debt and its refusal to pay as unjustified. en-us Mon, 19 Nov 1990 00:00:00 +0530 Mon, 13 Feb 2012 16:38:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102086 A company may be bound by a family settlement and partition agreement, even if not signed in its name, where later conduct and corporate records show acceptance or ratification of the liability. Balance-sheet entries describing the sum as a current liability, together with notes reflecting acceptance of assets and liabilities under the settlement, were treated as strong evidence of acknowledgment of debt. A bare denial in reply, unsupported by facts, was rejected, and an ultra vires objection raised without proper factual foundation was not entertained. On that basis, the company was treated as having acknowledged the debt and its refusal to pay as unjustified. Case-Laws Companies Law Mon, 19 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102086