In private sector, an individual can gain control of the entire business firm. A guarantee company substitutes share capitals with guarantors willing to pay a guarantee amount upon the liquidation of the company.
However, the manner in which such transfer of shares is to be made should be provided and it may also contain bona fide and reasonable restrictions on the rights of members for transfer of their shares.
The shareholders are liable to donate whatever sums are required to pay the outstanding debts of the company, should it go into formal liquidation and if there is any need to meet the insufficiency of assets to pay the debts and liabilities and the fixed cost of liquidation.
However, it cannot be considered as a citizen as it cannot enjoy the rights of a citizen. The directors supervise the day-to-day work and progress of the company. A Prospectus is issued by the public companies to invite people to buy the shares of the company. Individual members cannot be sued.
It is advisable not to form public company, as it is risky to do so. Shares are always transferrable subject to the restrictions and liabilities offered by the rights to transfer shares.
The Income Tax Act also recognizes company as a separate legal entity. The members of the company can enter into contracts with the company in the same manner as any other individual can.
Common Seal A company cannot sign documents by itself.
Perpetual Existence A company is said to be a stable form of business organization. However, you can search for other information on "your" company by visiting http: The common stock is usually denoted in terms of money and is the capital of the company.
To be legally binding on the company, a document has to carry the company seal on it. You may need to use the "investor relations" link from the main company home page to get the kind of information we will be dealing with.
These persons will subscribe to the memorandum of associations and also comply with the other legal requirements of the Company Act in respect of registration to form and incorporate the company, with or without liability.View TLAW Company Law Tutorial 1(AH) (1) from LAW at Macquarie.
TLAW COMPANY LAW Tutorial [ 1] Topic: Business Structures [based on Class lecture materials] Answer the following. Company law tutorial questions. year 3 Semester 1 Students are required to review all questions for tutorials/ week commencing 16th November, Company Law Tutorial Group Assignment.
Name: RUTH LAU HWEE LING KJC TANG POH YEE KJC MARYLEN JUSENTHA KJC ARUNA A/P MUNIANDY KJC View Notes - TLAW Company Law Tutorial 1(AH) from ACCOUNTANC accountanc at College of Accountancy and Management Studies.
TLAW COMPANY LAW Tutorial [ 1] Topic: Business Structures [based on. Business Law Company Law - Learn Business Law starting from Company Law, Principle of Separate Legal Existence, The Corporate Veil, Liabilities and Rights of Promoters, Memorandum of Association Concepts, Articles of Association, Shares, Directors, Winding Up of a Company, Company Meetings, Various Laws and Acts, Law of Contract Act, Law of Sale of Goods, Law of Arbitration, Law.
compano law tutorial questions what are the main differences between proprieto companies and public companies? outline the brieflo the procedure of registering.Download