between persons carrying on a business in common with a view of profit. In order to show a partnership‚ one should prove that 1) there is an existence of a business 2) the business is being carried on by two or more people 3) they share profits. A partnership is not a separate legal entity and therefore the partners do not benefit from limited liability. Section 24 of the PA states that a general partner has the right to take part in the management of the business unless there is an agreement.
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Difficulty: 2; Keywords: Goal of the Firm‚ Shareholder Wealth Maximization 5. Business owners who want to operate as sole proprietors must request sole proprietor status and get approval from taxing authorities to pass business income to the owner’s individual tax return. Answer: False; Difficulty: 1; Keywords: Sole Proprietorship‚ Legal Forms of Business 6. A general partnership‚ unlike a limited partnership‚ is an entity that legally functions separate and apart from its owners. Answer:
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proprietorship is statistically the most common business form for in the United State. The business is unincorporated owned and operated by one individual. An advantage of sole proprietorship is the business can be simple and inexpensive to start. A Disadvantage of sole proprietorship is being the only thinker for ideas for decision making‚ advertising‚ etc. 1. Liability- There is an unlimited amount of liability because nothing separates you from the business legally. This means the owner is held responsible
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solicits each of edna’s customers. Clem is most likely liable for Wrongful interference with a business relationship 7. Levon leaves his truck at Makeright Vehicle Shop for repair. When Levon refuses to pay for the work‚ makeRight refuses to give him possession of the truck. Makeright has committed Trespass to personal property 8. A Rhode Island state imposes fines on tire repair business whose pneumatic equipment does not include automatic shut-off switches to protect employees. Bob’s
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Corporate communication addresses the singular purpose of presenting a corporate entity to the world. It is effectively a management function which offers a framework for the effective coordination of all internal and external communication with the supreme purpose of establishing and maintaining a favourable rapport with its stakeholders. Being a complex process‚ it involves strategically orchestrating all types of communication. Apparently this requires some effective tools to be at disposal
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structure 4. A business owned by a solitary individual who has unlimited liability for its debt is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. limited liability company. 5. A business formed by two or more individuals who each have unlimited liability for all of the firm’s business debts is called a: A. corporation. B. sole proprietorship. C. general partnership. D. limited partnership. E. limited liability company. 6. A business partner whose
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Piercing the corporate veil describes a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders or directors. Usually a corporation is treated as a separate legal person‚ which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood‚ but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be
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from the conclusion of the Annual General Meeting on the remuneration as fixed by the Board of directors of the Company.” SPECIAL BUSINESS: 1. Approval for raising the ceiling limit for foreign investments To consider and if fit‚ to pass the following resolution as a Special Resolution: “RESOLVED THAT such increased limit of the holdings of all foreign entities be subject to such conditions as imposed by the Reserve Bank of India.” “RESOLVED FURTHER THAT the Board/Committee of the Board of
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Chapter 1 1.1 Introduction Definition Project financing involves non-recourse financing of the development and construction of a particular project in which the lender looks principally to the revenues expected to be generated by the project for the repayment of its loan and to the assets of the project as collateral for its loan rather than to the general credit of the project sponsor. "Project finance" is a method for obtaining commercial debt financing for the construction of a facility. Lenders
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PDF processed with CutePDF evaluation edition www.CutePDF.com THE HIGH COURT OF DELHI AT NEW DELHI (ORIGINAL JURISDICTION) COMPANY APPLICATION NO. (M) 123 of 2012 IN THE MATTER OF THE COMPANIES ACT‚ 1956 (1 OF 1956) SECTIONS 391 & 394 AND IN THE MATTER OF SCHEME OF AMALGAMATION OF BRAHMAPUTRA INFRAPROJECT LTD WITH BRAHMAPUTRA INFRASTRUCTURE LTD IN THE MATTER OF BRAHMAPUTRA INFRAPROJECT LTD APPLICANT/ TRANSFEROR COMPANY (A Company incorporated under the provisions of the Companies Act‚ 1956
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