What are the contents of the articles of association?
Q: The pre-emptive rights of stockholders in a corporation are not statutory rights, but are…
A: Answer 1 inherent rights any rights or freedoms that now exist by way of land claims agreements or…
Q: Partnerships and most LLCs are known as pass-through entities. What does this mean for their…
A: Limited liability companies (LLCs) are going through substances naturally. Except if the proprietors…
Q: concepts of the appointment, duties of directors as well as to whom these duties are owed together…
A: As I had been welcome to travel to the 35th worldwide meeting on a law change to speak about some…
Q: Which of the following statements is correct regarding a limited partnership?
A: Correct statements regarding a limited partnership:
Q: In view of the many advantages that the law affords to business corporations and similar entities…
A: Without the support of government and law it would have been very difficult for the corporate…
Q: Which legal form of business will allow the perpetual operation of a business? Choose one answer.…
A: At the point when you start a business, you should choose a lawful structure for it. Normally you'll…
Q: Based on the inference of the responsibility of directors, they must sure know that the business has…
A: Corporate governance is a system that lays down the rules, policies and regulations the board of…
Q: Which of the following items is NOT to be placed in the articles of organization of a limited…
A: In соrроrаte gоvernаnсe, а соmраny's аrtiсles оf аssосiаtiоn is а dосument whiсh, аlоng…
Q: Promoters or incorporators remain liable for contracts made by them on a proposed corporation even…
A: Promoters or incorporators of a company start working before the corporation is registered or formed…
Q: Unit - 1 1. What is Join Stock Company? Discuss its types in detail. 2. Explain the difference…
A: While starting any company memorandum of association and article of association, both are important…
Q: Describe corporations, discuss their advantages and disadvantages, and identify different kinds of…
A: A corporation is a large company or group of companies that act as a single and legal entity…
Q: The distinguishing feature of a corporation is that A) their is no legal difference between the…
A: A group of people coordinating and working together to achieve a pre-defined mutual goal is called…
Q: Smith, a shareholder, filed suit against the board of directors of a corporation in which he had…
A: A shareholder, also described as a stockholder, is an individual, corporation, as well as…
Q: describing the obligations of corporate directors to a business corporation. include a discussion of…
A: Corporate directors oversee the affairs of the corporation in order to protect the interest of the…
Q: Sayre learned that Adams, Boone, and Chase were planning to form a corporation for the purpose of…
A: Summary of the case- S sold his gas tank cap patent rights to A, B, and C for cash and shares in the…
Q: What is the relation among persons who attempt but fail to form a corporation and who carry on…
A: Corporations can earn, be charged, and be held fully accountable. Corporations provide the best…
Q: Examine special types of corporations, including S-corporations, limitedliability companies, and…
A: Business forms are elaborated as sole proprietorship, partnership, cooperation and cooperative…
Q: What are the general principles of personal property ownership? Describe three of the types of…
A: Answer 1 The property law governs many sorts of ownerships in personal estate and land property.…
Q: Chapter 11 bankruptcy provides for: a. adjustment of debts of a municipality b. reorganization of…
A: The chapter 11 of the bankruptcy law deals with the reorganization process among businesses. It…
Q: Ali incorporated his business so that he has unlimited liability to shield him against personal…
A: NOTE: As per guidelines, we are only allowed to do one question at a time. please post another…
Q: a. If the owner of a business becomes died, explain in words your own the continuity of business in…
A: The three forms of business organization are: 1. Sole Proprietorship: This is a legal form of…
Q: Explain briefly, the following. (At least one paragraph each) Public company Private company A…
A: A corporation can be defined as a legal entity which is separate and distinct from its shareholders…
Q: The concepts of the appointment, duties of directors as well as to whom these duties are owed…
A: \Answer:In simple language, the word Directors during a company is an embodiment of task, intellect,…
Q: Which of the business structures (Corporation,Partnership,sole Proprietor) has limited liability…
A: 1.Which of the business structures (Corporation,Partnership,sole Proprietor) has limited liability…
Q: Describe the processes required in registering a limited liability company
A: Limited liability company refers to those form of business whereby the owners will not be held…
Q: entity
A: A corporation is a form of organization that is different from its members and has perpetual…
Q: When a new corporation is formed to acquire two or more other corporations through an exchange of…
A: A Merger refers to the combination of one or more business entities into a single business entity in…
Q: Imagine Ali, an Omani citizen, and Sara, a Canadian Citizen, decide to start a Limited Liability…
A: A liability company (LLC) could be a business structure for personal firms within u. s., one that…
Q: Do corporate shareholders have an obligation to make certain that their business corporation acts in…
A: The different ownership in business implies about distribution of business profits/losses and…
Q: Evaluate "ease of discontinuance" as an advantage of the proprietorship form of legal organization
A: A sole proprietorship is the most basic form of business that connects a business's owner to their…
Q: Company is artificial legal person, having perpetual succession and common seal.” Explain the…
A: The company can be defined as an organization which is set by the group of people to operate…
Q: What are the characteristics of the Quasi-Corporation? Describe 3 types of Quasi Corporations.
A: A corporation can be defined as a legal entity created by individuals. The establishment involved…
Q: duties of directors as well as to whom these duties are owed together
A: Law and order can be defined as a set of certain principles and rules that everybody should follow…
Q: ownership by the trading of shares c. has a single owner but has directors who are responsible…
A: Sole proprietorship:- It is a type of business for which is owned, run, and control by a single…
Q: Which of the following statement describe a sole proprietorship? a. The sole proprietorship business…
A: Sole proprietorship refers to the type of business incorporated with one owner paying the income tax…
Q: Which is true about a limited partnership (LP)? a. General partners are exposed to liability for…
A: A partnership is a venture wherever 2 or more people have control. Partnership contracts must be…
Q: A general partnership would be the best choice of legal entity for a business such as a…
A: One of the biggest steps in starting a business is determining its structure. Choosing the right…
Q: State the difference between a closed corporation and an open corporation.
A: When operating with a corporate client, it's significant to recognize the corporation's ownership…
Q: Compare the actual governance of closely held corporations, the actual governance of publicly held…
A: Corporate governance is the combination of laws, rules, and processes in which businesses are…
Q: The “Compliance with Standards Rule” requires that a member who performs professional services,…
A: Compliance is the state of adhering to or obeying the rules set by a particular council of area.
What are the contents of the articles of association?
What is Table A?
What is meant by a company registered office?
What is an objects clause?
Explain the nature of a company limited by shares.
How can the articles of a company be altered?
What is the legal effect of a company's constitution?
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- SECTION D Read the following extract and then answer the question belowA client is interested in setting up a business and does not know which form of business to use. He has been told that he can form a sole proprietorship, or partnership, or a limited liability company. He comes seeking for business advises on the advantages and disadvantages of a registered company. Make a comparison between a sole proprietorship, partnership, and a limited liability company.The pre-emptive rights of stockholders in a corporation are not statutory rights, but are ____________ and exist even when no specific grant or recognition of such right is provided for in statutory law. inherent rights common law rights provided by the Corporation Code implied rights A share held by a third person to be released only upon the performance of a condition or the happening of a certain event contained in the agreement. Common share Preferred share Escrow share Treasury share One of the attributes of a corporation is that it is an artificial being with a separate personality. As a result of this attribute, the corporation: is not liable for torts committed by its officer or agent. is liable for torts committed by its officer or agent. is liable for torts by its stockholders. is liable for torts committed by its stockholders and officers or agents. The “Grandfather Rule” in Corporation law means that: corporate stockholdings would be traced from the nationality of the…Michael is a newly appointed director of a public listed company. He seeks your advice on some of the latest changes in the Companies Act 2016. Advise Michael on the following matters which he has raised:(a) Rules on passing of ordinary and special resolutions.(b) Removal of directors of a public company.(a) How to determine that a corporation shall be deemed to be a subsidiary of another corporation?
- BUSINESS LAW (263) Which of the following statements is correct regarding a limited partnership? Group of answer choices The general partner must make a capital contribution. It can only be created pursuant to a statute providing for the formation of limited partnerships. It can be created with limited liability for all partners. At least one general partner must also be a limited partner.What is one of the primary roles that agency law plays in partnerships? Group of answer choices: A. Controls formation of the entity. B. Dictate how the partners can operate the business. C. Whether or not a partner can bind the partnership to obligations or liabilities. D. Dictates what the operating agreement must state..The distinguishing feature of a corporation is that A) their is no legal difference between the corporation and its owners. B) it is a legally defined, artificial being, separate from its owners. C) it spreads liability for its corporate obligations to all shareholders. D) provides limited liability only to small shareholders.
- Evelyn, Francis and George, run a business buying and selling wigs. They have been advised by their lawyer to form a private limited company to run the business. They have contacted you for a second opinion, particularly in respect of:1.The extent to which they will have the same right to be involved in the management of the private limited company; 2.Thepublic disclosure to which the business would be subjected to as a private limited company. Having discussed these aspects with specific reference to the Companies Act, 2019 (Act 992), advise them of the choice they should make between the two alternatives, or any other options available to them.Noodleoo, a struggling restaurant chain, wants to enact a franchise agreement with Stephen to sell its product through a chain-style franchise. Stephen agrees and opens the store, and 6 months later Noodleoo goes bankrupt. Which is most likely true of this situation? Stephen was not responsible for looking into the financial status of Noodleoo before making the agreement. The Franchise rule does not apply to struggling companies. If Noodleoo was not transparent with its financial data, Stephen has no recourse. If Noodleoo was not transparent with its financial data, it has broken the Franchise Rule.Partnerships and most LLCs are known as pass-through entities. What does this mean for their partners (in the case of partnerships) and members (in the case of LLCs)? a. The businesses themselves are not subject to income tax; the individual partners/members pay income tax on their share of the businesses’ profits b. Partners and members are subject to double taxation
- Smith, a shareholder, filed suit against the board of directors of a corporation in which he had owned stock. Smith claimed that he and other shareholders had not received top dollar for their shares when their corporation had merged with another. Consequently, they sought either a reversal of the merger or payment from the directors to make up for their losses. The directors, Smith argued, had violated their duty of due care because they based their decision on a 20-minute speech by the CEO. Also, the directors had not even looked at the merger documents, let alone studied them. Furthermore, the directors had not sought any independent evaluation by outside experts. For their part, the directors argued that because their decision was made in good faith and was legal, they were protected by the business judgment rule. Were the directors correct?A school of thought is of the view that a limited liability company is said to be best in respect of setting up a business, others are of the opinion that a limited liability just shifts the burden of the failure of business to a non-existent person called a company and its creditors.a) with the aid of the Company’s Act 1960, Act 179 and decided cases, discuss what is termed as a limited Liability Company b) According to case law and statute, at what time is a company liable for acts committed byits directors. c) Discuss the Mechanics of Incorporation d) Explain the Ultra Vires PrincipleCompanies A and B differ only in their capital structure. A is financed 30% debt and 70% equity: B is financed 10% debt and 90% equity. The debt of both companies is risk-free. a. Rosencrantz owns 1% of the common stock of A. What other investment package would produce identical cash flow for Rosencrantz? b. Guildenstern owns 2% of common stock of B. What other investment package would produce identical cash flows for Guildenstern?