SINGAPORE MANAGEMENT UNIVERSITY LGST201 COMPANY LAW Topic 1 - Introduction to the Company General Reading: Woon‚ chapters 1 and 2 (you may omit paras 1.73 – 1.1041). Note that Woon references below are to the Revised 3rd edition (2009) (corresponding references to the 3rd edition (2005) are footnoted). Legend - Very important. Must know! - Less important (but doesn’t mean can ignore!) 1. General Themes The company is essentially an artificial person created by law
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features of limited companies A limited company is a business that is owned by its shareholders‚ run by directors and most importantly the company liability is limited. Limited liability means the investors cannot held personally liable for the company’s loses. This encourages people to finance the company‚ and/or to set up such a business‚ they know that they can only lose what they put in‚ if the company fails. For people or businesses who have a claim against the company‚ “limited liability”
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effect of common law and the Companies Act 1965 on pre-incorporation contracts. Pre-corporation contract is one which is entered into when the Company is in the process of being incorporated but is not yet completed it. At common law such contracts were held to be void‚ as the company is not yet in existence. - Newborne v Sensolid Ltd. In the common law effect‚ Pre-incorporation contracts cannot‚ in theory‚ be made by the company or by its promoter since the company or the principal does not exist
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Company Law 1) Explain the background to the case Salomon vs. Salomon. Mr. Salomon was a leather merchant in a large establishment. Solomon converted his business into a limited company as Solomon and Company limited with his wife and five children becoming members. Each member took one £1 share each. The company bought the business for £39‚000. Mr. Salomon subscribed for 20‚000 further shares. The company also gave Salomon £10‚000 in debentures (i.e. Salomon gave the company a £10‚000 loan
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| | | | |Sole Proprietorship |Partnership |Un-incorporated Associations |Companies | | | | | | | | |
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1. Introduction to Apple Company Steve Jobs alongside Steve Wozniak and Ronald Wayne founded Apple Inc. under the objective of nurturing innovation in the computer business. Like any other company‚ the starting of Apple Inc. involved challenges of dealing with competition‚ winning the market share‚ unfavorable response from customers‚ lack of innovation‚ and lack of recognition by potential clients. With all these challenges acting against the ability of Apple to thrive in the computer business
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study-The 3M Company Insert name Insert institution Insert instructor’s name Insert the date Case study-The 3M Company Initially known as the Minnesota Mining and Manufacturing Company‚ this company was pioneered in 1902 at Minnesota near Lake Superior. It was set up to sell mineral deposits which were later proved to be valueless and this initiated early research and development of this company while in Duluth. This saw its success in selling sandpaper products. The company later increased
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Mr. Jarvis was a solicitor for Barking Council. He chose to go for Christmas holiday in Switzerland. He got a brochure from Swan Tours Ltd‚ which for Mörlialp‚ Giswil said the attractions were‚ "House Party Centre with special resident host. ... Mörlialp is a most wonderful little resort on a sunny plateau ... Up there you will find yourself in the midst of beautiful alpine scenery‚ which in winter becomes a wonderland of sun‚ snow and ice‚ with a wide variety of fine ski-runs‚ a skating rink and
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THE COMPANIES ACT‚ 1956 (COMPANY LIMITED BY SHARES) MEMORANDUM OF ASSOCIATION OF K M RESIDENCY PRIVATE LIMITED I. The name of the Company is K M RESIDENCY PRIVATE LIMITED II. The Registered Office of the Company will be situated in the State of Rajasthan Ill. The objects for which the Company is established are:- (A) THE MAIN OBJECTS TO BE PURSUED BY THE COMPANY ON ITS INCORPORATION ARE: 1. To carry on the business as promoters‚ dealers‚ owners‚ investors‚ developers
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Introduction The Kellogg Company is the world’s leading producer of cereal and one of the leaders in the production of convenience foods. The company reported sales of nearly $11 billion for 2006; sales revenue has steadily risen over the last decade. Kellogg’s products are made in seventeen countries and are sold in more than 180 countries. According to the company website‚ “Kellogg Company has a rich history of corporate social responsibility‚ a history that has grown and evolved to meet the
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