Create a 6 page essay paper that discusses A case of Company Law.
n Telecomms Plc, a public company limited by shares on the potential legal consequences of an anticipated complaint against its subsidiary company Mobilestoyou Limited, for loss of health and property by one of the customers of the subsidiary, under the provisions of Company Law.
The Company was formed with 30,000 fully paid ordinary shares of ₤ 1 each subscribed by Peter, Paul and Mary While Peter and Mary pays the value of the shares by cash, Paul pays the cost of his shares by transferring the ownership of his 10 year old car to the company. The legal position with reference to the issue of initial shares is as under: