C ONTENTS Introdcution ...................................................................................................................................................................2 Definition of a Company ............................................................................................................................................2 Features of a Corporation .....................................................................................................................
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Case Name | Legal Principle | Facts | Held | Salomon v.Salomon & Co Ltd [1897] AC 22; Maclaine Watson & Co Ltd v International Tin Council 1989 | * A company is a legal entity separate and distinct from its shareholders and it not an agent of those shareholders * Lord Macnaghten pointed out that in an earlier case: Re Baglan Hall Colliery Co 1870 Giffard LJ had said that it was “the policy of the Companies Act” to enable business people to incorporate their businesses and so avoid incurring
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organization. What are the benefits of the merger to British Wallboard? US Corp? Canadian Wallboard? Stonewall? (10 marks) Mergers: The mergers of organizations takes place when two corporations combine their resources-assets and liability to become one entity. The willingness of the business relationship to take place should be mutual so that the merger can be a success and not an acquisition that will interfere with the operations of the corporations (Zain‚ 2008). Benefits That Will Be Experienced By
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start up a sole proprietorship‚ and more often than not it does not require a great deal of money. Another advantage is that the profits go straight to the sole proprietor who doesn’t need to worry about sharing or dealing with another individual or entity on the day to day operations as well as money. A major disadvantage would be the unlimited liability that is involved for sole proprietors. Creditors may come after person possessions to compensate for the business failures. It is also very difficult
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law from its owners. It is owned by shareholder who appoints Director to give direction to the business. We have three types of companies. These are Limited companies‚ Private limited companies and Public limited. Limited companies- This is a legal entity separate from the owners of the
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Research Paper: The principle of a separate corporate personality is a fundamental concept in Business Law. However this does not stop the courts from lifting or piercing the veil to see what lies beneath. Critically discuss this statement citing the relevant case law. As is evident with most principles of law there are exceptions to the doctrine of separate legal personality. The courts will generally depart from the principle separate corporate personality in certain instances where tools
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Table of content 1 | Acknowledgement | 2 | 1.0 | Introduction | 3 | 2.0 | Procedures to form a company2.1 Reservation of company name | 44 | 3.0 | Documents required to be lodged to form a company3.1 Memorandum of Association3.2 Article of Association | 555 | 4.0 | Company’s promoters | 6 | 5.0 | Natures of the company5.1 Company as a body corporate5.2 Can sue and being sued5.3 Perpetual succession5.4 Ability to own property5.5 Limited liability for its members | 8910101112 | 6
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company submits all of the relevant documents to the registrar‚ which‚ if approved; will result in the issue of an incorporation certificate‚ acting as conclusive evidence of its incorporation. The requirement for a company to have a separate legal entity is forever scrutinized by certain legal professionals‚ however this is an essential factor to ensure all of the legal liability a company can create is not directly connected to its members or shareholders. As a result‚ companies can own property
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Business Structures Ruth Whitehead FIN/571 February 23‚ 2015 Oscar Lewis Business Structures Three types of business structures exist; Partnership‚ Sole Proprietorship‚ and Corporation. Essential deliberations are dimensions of the commercial‚ the method in which revenue from the trade is a tax‚ the lawful obligation of the proprietors‚ and the capability to obtain monies to fund the business. Few businesses start-up as a large capacity organization. All business structures have advantages and
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CHAPTER FOUR SOLE PROPRIETORSHIP I. INTRODUCTION The sole proprietorship is the simplest form of “business association” we will examine. It is perhaps a bit odd to describe it as a form of “association” given that the “sole” proprietor will be the only “equity” investor and thus doesn’t “associate” with anyone else as a co-equity investor. However‚ there will almost invariably be “associations” that the sole proprietor will have in order to carry on the business. These can include associations
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