profits or any other distributable reserve. [ACCA Paper F4‚ Page 248] Dividends become a debt only when declared and due for payment‚ however they are a source of taxable income to shareholders. A dividend can only be paid out of profits distributable by law. This means that dividends cannot paid by certain profits. A company’s undistributable reserves are its Share Premium Account‚ Capital Redemption reserve‚ any other reserve and also the amount by which its accumulated unrealised profits exceed its
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where a director is expected to be honest‚ vigilant and protect the shareholders trust in him. Shareholders own the corporation and elect the board of directors whose approval is required for major corporate actions. Liability comes into picture when directors or officers tend to cause financial harm to the corporation‚ commit a crime or try to breach their duty of care to the corporation. The directors often forget that they are elected or appointed to the position of the director by the shareholders
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Corporation‚ partnership‚ or sole proprietorship? Now that you have decided to start your own business‚ you will have to determine what business structure or form of organization suits your needs. The structure of your business will depend on whether you want to run your business yourself or with a partner or associates. There are four types of business structures: sole proprietorships‚ partnerships‚ corporations and cooperatives. On this page: 1. 1. Sole proprietorship 2. 2. Partnerships
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British Institute of International and Comparative Law Is the Doctrine of Ultra Vires Dead? Author(s): R. Baxt Source: The International and Comparative Law Quarterly‚ Vol. 20‚ No. 2 (Apr.‚ 1971)‚ pp. 301315 Published by: Cambridge University Press on behalf of the British Institute of International and Comparative Law Stable URL: http://www.jstor.org/stable/758032 . Accessed: 26/04/2013 02:48 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available
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ACW 204/3 COMPANY LAW AND SECRETERIAL PRACTICES SEMESTER 1 ACADEMIC SESSION 2012/2013 LECTURER: DR. HAZRIL IZWAR IBRAHIM PREPARED BY: NAME MATRIC NO. CHEE HUI JUN 114071 GOH XIAO YUING 111912 KOK JE SEN 111919 LEE CHIA YEE 111921 TOH SHER LYNN 111987 YEOH LI YEN 111996 1. “Incorporation is the bedrock upon which Company Law is built.” Incorporation means the process of legally declaring a corporate entity as separate entity from its owners. Incorporation
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A part (d) model answer Case study- a multinational company Name a multinational company and one country where it operates Nike‚ Vietnam‚ Southern Asia Explain how the MNC affects local people and the economy of that country. Use at least three developed ideas. Nike is the World’s leading supplier of sportswear. It has many factories in Asia‚ including 24 in Vietnam. It has a major impact on both the Vietnamese people and its economy. Thousands of jobs are created for local people which means
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DOWNLOAD http://www.supportonlineexam.com 1) Which of the following is a distinguishing feature of a common law legal system? A. An appeal process B. The making of law by the judges and the following of precedent C. The sole source of law is a comprehensive civil code D. Requiring guilt be proven beyond a reasonable doubt 2) Which of the following is true about litigatingcommercial disputes? A. A few states have established specialized trial courts for commercial disputes. B. Businesses generally
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Company Law: Assignment 1. Advise Sarah and Jane of the advantages and disadvantages of operating their business: a. Separately b. Sarah Jane Pty Ltd c. Sarah Jane Ltd Separately -less cost to set up the business -easy to comply with legal requirement under the corporation act Disadvantages: -you are there on your own unlimited unlimited liability her own asset could in danger as the result of breaches in contract and in tort The advantage of Sarah Jane Pty Ltd: Sarah‚ Jane and their employees
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The English word “law” refers to limits upon various forms of behavior. Some laws are descriptive: they simply describe how people‚ or even natural phenomena‚ usually behave. An example is the rather consistent law of gravity; another is the less consistent laws of economics. Other laws are prescriptive - they prescribe how people ought to behave. For example‚ the speed limits imposed upon drivers that prescribe how fast we should drive. They rarely describe how fast we actually do drive‚ of course
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LAW (PARTNERSHIP AND CORPORATION) GAMMAD‚ MARY JANE M. (Art. 1833-1836) ARTICLE 1833 Where the dissolution is caused bythe act‚ death or insolvency of partner‚ eachpartner is liable to his co-partners for his share of any liability created by any partner acting for thepartnership as if the partnership had not beendissolved unless: 1.)The dissolution being the act of anypartner‚ the partner acting for thepartnership had knowledge of thedissolution; or 2.)The dissolution being by the death orinsolvency
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