...Law 1. Define company? How many kinds of companies? Distinguish between private Ltd. and public Ltd. company. 2. What is Memorandum of Association? What are the elements of Memorandum of Association? What are the stages in the formation of a company? 3. What is capital? Describe briefly the source of companies’ capital? Define share? Describe briefly the classification of share? 4. Define contract? Describe briefly the essential elements of contract? Define Law? Describe briefly the classification of law? 5. Define partnership? The essential elements of partnership? Classes of partners and classes of partnership? 6. Short Notes: a) Article of Association. b) Difference between Memorandum of Association and Article of Association. c) Authorized Capital. d) Paid-up capital. e) AGM f) EGM. Q: What is contract? Describe the elements of contract? Ans. Section 2(h) of the Contract Act, 1872 provides that, “An agreement enforceable by law is a contract.”Therefore, in a contract there must be (1) on agreement and (2) the agreement must be enforceable by law. Agreements which are not enforceable by law they are not contract. Elements of contract: The essential elements of a contract are explained below: (1) Offer and acceptance: There must be a lawful offer by one party and a lawful acceptance of the offer by the other party or parties. “Lawful” implies that the offer and acceptance must conform to the rules laid down in the contract act 1872. (2) Intention...
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...Business Law is the legitimate field in charge of the locale, control, oversight, and approval of all communicated legitimate certain inside business rehearses business operations, and customer dealings occurring inside a business setting. Much of the time, Commercial Law will stick to the assortment of organizations, strategies for trade, and business endeavours that happen in a specific zone or district; these sorts of business foundations will regularly extend in size, staff, administration, and industry. Inside the domain of business and trade, there exist limitless varieties of organizations that are altogether required to hold fast to the communicated legitimate inside the fundamentals of Business Law. While the greater part of business...
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...CONTRACT LAW KENNETH D ROBINSON JR BUSINESS LAW 311 GARY GENTRY 9 JUNE 2014 Abstract A Body of law that governs oral and written agreements associated with exchange of goods and services, money, and properties is recognized as contract law. Contract law includes topics such as the nature of contractual obligations, limitation of actions, freedom of contract, privity of contract, termination of contract, and covers also agency relationships, commercial paper, and contracts of employment. Contract law is one of the many different aspects of business law and must be understood in the world of law. From valid contracts, to voidable, enforceable and unenforceable contracts they must all be understood and taken into account. If you were starting a business you would first need to know what contract law is, its history and why is in important in the world today. CONTRACT LAW Over the last several of weeks since announcing it was banning Los Angeles Clippers owner Donald Sterling for life, The NBA has had hopes of getting approval from the league's owners to force him to sell the team, little has been known of the NBA's exact legal strategy. While the league's constitution, publicly revealed for the first time by the league last Tuesday, made it clear that grounds exist to remove an owner if that owner "fail(s) or refuse(s) to fulfill its contractual obligations to the Association," it remained unclear what contracts Sterling might have violated when he made...
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...fundamental capacities of Human Resource Management, arranging and anticipating human asset necessities, recruitment and determination, evaluation, assessment and worker inspiration. The connections between fruitful business and Human Resource Management are analyzed and in addition how Human Resource Management procedures could be consolidated into business methods to enhance benefit. The historical backdrop of the improvement of human asset administration might be followed back to the early 1900s. Human asset director’s unique capacity was to fundamentally deal with the relationship in the middle of organizations and worker's guilds. Galbraith and Nathanson were among the first association scholar to examine unequivocally the idea of human assets systems in the setting of key administration (Mathis & Jackson, 2011). They created a model for the human asset administration work that partitioned the human asset administration capacity into four fundamental sub functions. Consequent audit of the human asset administration capacity partitioned the capacity into seven sections. Albeit human asset administration was initially seen as an essential malicious to manage worker's organizations as of now human asset directors are seen as a crucial piece of any effective association. Human Resource Management (HRM) concentrates on securing, keeping up, and...
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...degree from an accredited college or university, unless one is using the provisions of the foreign rule. The Board accepts degrees from schools accredited by the following associations : Middle States Association, New England Association, North Central Association, Northwest Association, Southern Association of Colleges and Schools, Western Association of Schools and Colleges, Association of Independent Schools and Colleges who have been approved by the Florida State Board of Independent Colleges and Universities, and Canadian Schools who have been approved by their provincial educational bodies. 2. The accounting education program must consist of 36 semester hours of upper division accounting courses including coverage of tax, auditing, financial, and cost accounting. The business education program must consist of 39 semester hours of upper division general business courses with some exceptions. One micro-economics, one macro-economics, one statistics, one business law, and one introduction to computers course may be lower division. As part of the general business hours, applicants are required to have a total of six semester hours of business law courses which must cover contracts, torts, and the Uniform Commercial Code. Excess upper division accounting courses may be used to meet the General Business requirement. Elementary accounting classes are never acceptable for credit. Courses for non-accounting majors and any MBA courses that are equivalent to elementary accounting...
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...Code of Ethics Comparison Abstract This paper is a comparison between the codes of ethics of the American Counseling Association (ACA) and the American Association of Christian Counselors (AACC). This paper aims to present the similarities and differences between the two codes of ethics. There are two main sections on this paper. The first section presents the general similarities and differences of the two codes of ethics. The second section presents the similarities and differences of the two codes of ethics on three specific areas: Confidentiality, Sexual Intimacies and Informed Consent. The author used the codes of ethics of both organizations in the process of comparing and contrasting. The general comparison reveals that the codes of ethics of the two organizations apply to the same profession but they differ in the foundation upon which their codes of ethics were crafted. The comparison on three specific areas reveals similarities in contents but differ in depth and details. Introduction The code of ethics is the heart and soul of any business or professional organization. This code of ethics sets the standard to which all business or professional activities of all of its members are measured. This code is the ultimate guide on how members of the organization should act in connection with the performance of their duties and obligations. Likewise, it is the basis upon which disputes can be settled or decisions are to be made. This is the protection of each member...
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...5/8/2014 Most important document in constitution of a company is Memorandum | Law Teacher Need help? ☎ 0115 966 7966 Enter your search terms... Search Home Services Prices Order Quality About Us Law Help Contact Us My Account You are here: Law Teacher » Company Law » Essays » Most Important Document In Constitution Of A Company Is Memorandum Of Association Company Law Essay Most important document in constitution of a company is Memorandum Search all our free law essays... These essays have been written by students for you to use to help you with your studies. If you need your own custom law essay then we can help.... Get a quote for your own law essay... 0 Translate this page Select Language ▼ Order Your Law Essay Search Share & Download Like 0 Print Download Email Order your custom law essay today to help you achieve the grade you need. Tw eet 0 Order Now Introduction The most important document in the constitution of a company is the Memorandum of Association of the company. The Articles of Association is the second most important document that needs to be registered by any company for its incorporation, registration and subsequent operation. It is a public document laying down the rules for the internal management of the company and it does not have the force of ‘law’. The provisions of the article amount to public notice, known as constructive notice. This is the doctrine of constructive notice. The...
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...Lecture 1: Introduction to Company Law Lecture 1 Introduction to Company Law Master in International Business International Business Law Francisco Aránega 1 Lecture 1: Introduction to Company Law A.- WHAT IS A COMPANY? An association of persons or entities formed for the purpose of some business or undertaking, which: (i) (ii) has legal personality (the capacity to be independently subject to rights and obligations) separate from that of its members (shareholders); is entitled hold property and enter into contracts; and (iii) sue and be sued in its own name as if it was a natural person. Therefore, a company is subject to rights and obligations. In general the liability of the shareholders of the company is limited to the nominal/face value of the shares they own. That is why, by forming a company it is easier to “isolate” a particular business activity from the rest of the assets owned by the shareholders and the rest of the business carried out by them. The circumstances in which the cap on the shareholders’ liability can be lost vary from jurisdiction to jurisdiction. In general, companies in most states may be categorized as follows: (a) Limited Liability Companies Members of the company will hold shares in it and, as commented, in the normal course of business, they will be under no obligation to contribute to its assets; that is to say, they will not be held accountable for the company’s debts. In most of EU member states...
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...Company Law 2.1.1 Separate Legal Personality of a Registered Company Currently at Page & Plant, neither person has been able to reach an agreement as to how their business should be organised. Under Scottish business law, their current business relationship would be classified as a Partnership, which results in both partners being liable for any situation e.g. account defaults, liquidation or lawsuits. Not only would the liability extend to the assets of the business but would also include personal assets e.g. their homes and cars. In order for Page & Plant to limit or minimise their liability, they must separate the legal personality and legal consequences of the business. In order to do this, Page & Plant can become a registered company as a corporate body. They must be incorporated under the Companies Act 2006 or previous company legislation. Private and Public Limited companies must be registered under the Companies Act in order for the company to become an independent legal person which means the registered company becomes a person capable of taking on duties recognised and enforced by courts. A separate corporate personality means: * The company is able to raise its’ own legal actions and be the subject of legal actions * The company’s members enjoy limited liability * Even with changes to the company’s membership, the company continues to exist, as opposed to a sole trading business or partnership, as the business would change in these...
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...the refrigerator door or on standard height shelves; and packaging which is easy to open, resealable, reusable, microwaveable and/or pourable. Some consumers also have a strong preference for environmentally friendly packaging that is recyclable or biodegradable. Any of these features may persuade a shopper to purchase a given brand of a product and should be considered when designing product packaging. SEE ALSO PARTNERSHIPS The Uniform Partnership Act (UPA) defines a partnership as “an association of two or more persons who operate as coowners a business for profit.” The creation, organization, and dissolution of partnerships are governed by state law. Many states have adopted the UPA. Partnerships that are created under the UPA are referred to as general partnerships. Business partners are fiduciaries to each other under the UPA. The law recognizes the partnership to be all of the partners acting together and does not recognize it as a separate distinct entity. It is a form of business enterprise. PARTNERSHIP AS DISTINGUISHED FROM OTHER ENTITIES Marketing; Promotion B I B L I O G R A PH Y Arens, William F. (2006). Contemporary advertising (10th ed.). Boston: McGraw-Hill. Hoffman, K. Douglass (2006). Marketing principles and best practices (3rd ed.)....
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...means body. A corporation is therefore a legal person brought into existence by a process of law and not by natural birth. Owing to these artificial processes they are sometimes referred to as artificial persons, not fictitious persons. Company law can be described as the body of laws and rules that govern companies created under the United Kingdom Companies Act of 2006 (hereafter referred to as the Act of 2006). Section 1(1) of the Companies Act of 2006 states; “what company means as a corporation that is created, formed and registered under the aforementioned Act, which is one that was registered after such commencement of the Part in the Act or before such commencement.” It can also be one that came into existence under the U.K Companies Act of 1985, or the Companies (Northern Ireland) Order of 1986, or was a company in existence for the purposes of any of the Acts or Order, and is thus to be treated as if created by the act (Companies Act 2006). This is however a very vague definition. In the statute, the word company is not a legal term hence the vagueness of the definition. The legal attributes of the word company will depend upon a particular legal system. In legal theory, a company denotes an association of a number of persons for some common object or objectives. In ordinary usage it is associated with economic purposes or gain. A company can be defined as an association of a group or several persons who contribute money or money’s worth into a common stock and who...
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...Executive Summury Harmonization of the rules relating to company law and corporate governance, as well as to accounting and auditing, is essential for creating a Single Market for Financial Services and products. In the fields of company law and corporate governance, objectives include: providing equivalent protection for shareholders and other parties concerned with companies; ensuring freedom of establishment for companies throughout the EU; fostering efficiency and competitiveness of business; promoting cross-border cooperation between companies in different Member States; and stimulating discussions between Member States on the modernization of company law and corporate governance. This report is a diagnostic assessment of the corporate governance regulations and practices in Bangladesh. The assessment is measured against international norms and current practices as recognized by the OECD Guidelines on Corporate Governance. The report identifies critical areas where institutions, regulations, or other economic factors in the corporate sector could be strengthened to improve corporate governance (CG). As such, the authors identify strengths and weaknesses of legal requirements, regulations, and corporate practices. To identify the current strengths and weaknesses, the authors drew heavily on a review of laws and a survey of businesses organisations carried out by the research team as well as a series of interviews with key stakeholders. This analysis will serve as a basis on...
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...(a) List out 5 legal differences between a company and partnership (10marks) A company is society or association of persons, in considerable number, interested in a common object, and uniting themselves for the prosecution of some commercial or industrial undertaking, or other legitimate business. (The Law Dictionary, n.d) While a partnership is a voluntary association of two or persons, who contribute money, property, time, care or skills, to carry on, as co-owners, a lawful business for profits and to share the profits and losses of the business. (Rizwan Ahmad, 8 May 2009) I. First is the dissolution. A company is dissolved by winding-up and liquidation which is a formal procedure. A partnership may be dissolved informally, for example by agreement of the partners. II. Second is the registration. The Partnership Act does not require the registration of the partnership with any authority. However, a partnership business must be registered with the Registrar of Businesses. While the company’s memorandum and articles of association are lodged with the Registrar of Companies (“ROC”) III. Third is the number of members. Private Limited Company shall have at least 2 members and maximum 50 members. But for a public company are at least 2 members with no limitation. Partnership firm shall have at least 2 members and maximum 20 members and for banking business, maximum 10 members excluding lawyer firm, accounting firm, and architectural. . IV. Fourth is the...
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...Articles of Association Of Chongqing, China Date: [ ], 2005 Table of Contents The present articles are hereby formulated by . (hereinafter referred to as the “Investor”) in accordance with the Law of the People’s Republic of China (“PRC”) on Wholly Foreign-Owned Enterprises and other applicable Chinese laws and regulations, for the establishment of the wholly foreign-owned enterprise (the “Company”) in Chongqing, PRC. Article 1 - Name of Company Name of the Company in English: Name of the Company in Chinese: Legal Address: Legal Representative: Position: Nationality: Article 2 - Name of Investor Name of the Investor in English: . Legal Address: Legal Representative: Position: Nationality: Article 3 - The Company 3.1 Legal Person The Company shall be a legal person under the laws of the PRC subject to the protection and jurisdiction of PRC law. All of the activities of the Company shall comply with applicable PRC laws and regulations. 3.2 Limited Liability Company The Company shall be a limited liability company under the laws of the PRC...
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...Mallarr Law Associates LLP PROFILE OF PROF. RAM MALLAR 3 Silver Cascade, 110AA, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. PHONE ; 91-22-2432 8413 (2 Lines) FAX : 91-22-2431 8193 Mobile No: 98210 90950 E- Mail: mallarlaw@vsnl.net www.mallarlaw.com Blog: rammallar.blogspot.com Prof. Ram Mallar is a veteran Corporate Lawyer; currently heading Mallar Law Consulting Group, which includes Mallarr Law Associates LLP. Mr. Mallar was the Executive Vice President & General Counsel of Johnson & Johnson Limited until he set up his own practice in September 2000. His law qualifications are: Lawyer Fellow of the Institute of Company Secretaries of India Practising Company Secretary Leading faculty in Business Law, Business Ethics & Corporate Governance in major Business Schools in Mumbai. Industry Experience: Over 30 years of experience in the industry in the fields of Corporate Laws and General Management. Worked for Johnson & Johnson (J&J) as General Counsel and a member of the Management Board for nearly two decades. Last position held as Executive Vice – President & General Counsel and was responsible for Legal Functions, Total Quality Management, Imports, General Administration, Corporate Security, Safety, Health & Environment and administration of Branch office all over India. Was also a Director in all the nine subsidiary companies of Johnson & Johnson. Before joining Johnson & Johnson, Mallar worked for more than 11 companies as a Law Counsel including Parke-Davis, Knoll Pharmaceuticals...
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