MGMT3046 Company Law: Course Wrap Up November 2012 We have come to the end of formal instruction in Company Law‚ so it is useful at this point to review the main learnings from the course. This will be somewhat long! Unit1 Salomon v Salomon and the corporate veil. This is a foundational case in company law which enunciated the principle of the separateness of company and its members (shareholders and officers). The principle makes it quite clear that the separation of the company from its members
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get a dissolution of marriage either from their wife or husband. They also help individuals who are responding to the dissolution of marriage. A dissolution of marriage is when two people who are legally married‚ and one or both wants to have the marriage terminated. The dissolution of marriage is done through a court process‚ and the whole process is about six months. The self-help clinic is a free service offered to those who are unable to afford an attorney‚ and need help with the dissolution of
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business entity that will serve as the vehicle in pursuing the business that will affect the company’s and owner’s legal liability and income tax treatment. The three most common legal forms of business organization are the sole proprietorship‚ partnership and corporation. SOLE PROPRIETORHIP Sole proprietorship is a business owned and operated by an individual for his or her own profit. It is considered as the most common form of business ownership. Typically‚ the proprietor along with a few employees
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therefore it’s not a good idea Duty to Creditors (39-49) Blackburn 3P reasonably believed A was acting with the authority of P‚ P did nothing to discourage her belief Sennot All partners are agents for the principal‚ by default PARTNERSHIP Partnerships and other Non-Corporate Forms GPs An association of two or more people to carry on‚ as co-owners of a business for profit A lot of litigation is
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LAND (DUTIES AND TAXES) Act 46 of 1984 – 16 July 1984 ARRANGEMENT OF SECTIONS PART I – PRELIMINARY Short title Interpretation PART II – REGISTRATION DUTY 3 Duty leviable PART III – LAND TRANSFER TAX 4 Levy of land transfer tax 5 Exemption 6 Declaration by transferor 7 Penalty for incorrect declaration PART IV – CAPITAL GAINS 8 Interpretation 9 Levy of capital gains tax 10 Sale price and cost of infrastructure works 11 Contents of deed PART V – 12-15 PART VI – CAMPEMENT SITE TAX 16 Interpretation
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manage enterprises Article 14 Contracts [signed] prior to business registration Article 15 Procedures for registration of business Article 16 Business registration documents for private enterprises Article 17 Business registration documents for partnerships Article 18 Business registration documents for limited liabilities companies Article 19 Business registration documents for shareholding companies Article 20 Documents‚ procedures‚ conditions for and contents of business or investment registration
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differs from sale 9. Goods? As per Sale of Goods Act 1930 Types of goods 10. Distinguish btwn condition and warranty. Discuss the implied condition in contract of sale 11. Partnership. Elements. Diff btwn partnership and firm 12. Dissolution of firm. Discuss rights and liabilities of partners in dissolution of firm 513 BUSINESS RELATION 1. Economic relation 2. Socio-Cultural relation 3. EU/NAFTA/WTO 4. Tarrifs Effects‚ types‚ meaning 5. SAARC & IMF 6. SN
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. If I only knew then what I know now Often times in life we come to a point where negotiations must take place in order to resolve issues that have come between contracted parties. In 2001 I formed a partnership with a local group of entrepreneur’s to open a new restaurant. They owned the property‚ financed the building and were responsible for most of the startup costs. We made the usual contract arrangements for profit share‚ building and equipment costs‚ and operational controls. I set up the
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taxes: [What are the features of each business entity that affect the amount of federal‚ state‚ and local income taxes paid by the business and/or owners?] • Longevity or continuity of the organization: [What features of each form relate to forced dissolution of the business organization?] • Control: [Who has ultimate control over important decisions? How much control does the owner have to grant to others?] • Profit retention: [What portion of the profits does the owner have to give up because they
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CPA Law Exam II Notes Chapter 19: Formation & Terms of Sales Contracts Sale of Goods: UCC Article 2. Applies only to transactions involving goods. (Personal Property: Depends on how property is used. Ex: Brick in building = Real Property. Brick in riot = Personal). If it’s a mixed trxn‚ the predominant part determines which law is applied. If goods are the incidental part‚ common law applies. Common law is for services and sale of real property. Lease: UCC Article 2A. Transfer of the
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