... CHAPTER-1&2 CHAPTER-1&2 12.What are the effects of the memorandum and the article after they are registered THE LEGAL EFFECTS OF THE MEMORANDUM The Contractual Powers of a Company A Company or a Corporation is an artificial person created by law. It is a legal person capable of suing and of being sued. But the contractual powers of a company are limited in two ways : (i) natural possibility and (ii) legal possibility. (i) Natural Possibility The fact that a company is an artificial person leads to the result that a company must always enter into contract through agents, (ii) Legal Possibility A joint stock company cannot enter into any contract the object of which goes beyond the memorandum of association of the company. A statutory corporation cannot enter into any contract which is beyond the scope of its powers as laid down in the statute by which it was created Forms of Contracts and Deeds of a Company The Doctrine of Ultra Vires The Memorandum of Association determines the constitution and the powers of ‘the Company. It was observed by Lord Selbourne that the memorandum is the Company’s “fundamental and unalterable law”. ‘A Company is incorporated only for the objects and purposes expressed in the memorandum. Any act purported to be done by the Company which is beyond the scope of the functions of the Company as laid down in the memorandum is ultra vires i.e., beyond the powers of the Company, and of no effect. In Ashbury Railway...
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...Wk 2 Study: Social Media Policies, Concerted Activity and HR Management MGMT410 Human Resource Management 1.) Ethically, and in the spirit capitalism, few should question the right of an employer to discipline an employee who used Facebook, Twitter or other social media to complain about his employer, employer's business practices or to make disparaging comments about his supervisor or co-workers. As an employee, you represent your place of employment. Typically, there are routes to pursue complaints. If not, then it is just a matter of being an adult and discussing the issue to come to a reasonable conclusion. In this case, we will look at an unfair labor practice (ULP) charge filed by the National Labor Relations Board (NLRB) in October of 2010. American Medical Response (AMR), an ambulance service in Connecticut, fired an employee for posting deprecating comments about her supervisor on Facebook. Other employees joined in the conversation and added comments of their own. The NLRB alleged that the employee's comments were protected "concerted activity" under the National Labor Relations Act (NLRA) Section 7 of the NLRA states: "Employees shall have the right to self-organization, to form, join, or assist labor organizations, to bargain collectively through representatives of their own choosing, and to engage in other concerted activities for the purpose of collective bargaining or other mutual aid or protection, and shall also have the right to refrain...
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...constitutional documents (Memorandum and Articles of Association). In Fiji companies may be • Limited by shares • Limited by guarantee or • Have unlimited liability Companies may or may not have private company status. Legal advice should be taken on company structuring. Give official title of the body with the authority to grant the approval to investors Name of agency issuing the approval Office of the Registrar of Companies Registrar of Companies Office Level 2, Suvavou House Victoria Parade Suva. Telephone: (679) 331 2981 Facsimile: (679) 3318 830 Website: www.egov.gov.fj a) Availability of proposed name. An applicant must ensure that the company’s proposed name is available. This will require a search of the Companies, Business Names and Trademarks Register to ensure that the proposed name is not identical or too closely similar to another name already registered. b) The proposed company name must be reserved pending registration. For new company registrations, a formal application using the attached form must be made to the Registrar of Companies for the reservation of the name. Note that there are different forms for applying for: i. The name of a new company ii. A new name for an existing company c) The type of company must be chosen and constitutional documents – the Memorandum and Articles of Association – must be entered into. A company’s Memorandum and Articles of Association define the legal rights, duties and restrictions of the company. Legal advice should...
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...Cultural and Relationship Values Memorandum and Employee Handbook Memorandum TO: All Employees SUBJECT: Employee Handbook FROM: Boardman Management Group DATE: November 24, 2014 The purpose of this memorandum is to explain the reason behind designing the employee handbook that is attached. Subjects discussed include explaining the value and team-based culture, the mission statement, the main areas covered in the handbook and how this handbook will move us forward. The handbook will also cover employer responsibilities and employee rights. The company is a value and team-based culture. Baderman Island Resort aims to please the customers who cause employees to stretch the rules at times to make the guests comfortable. The company also conducts random acts of kindness, which also support a value-based culture. Boardman Management Group empowers its employees, which encourages a team experience as they consider all employees as family. The values of the company are articulated through the mission statement. The mission statement reads “…dedicated to managing leisure and convention focused resorts that provide a unique and quality experience to guests and visitors. The Board of Directors and operational leaders in the organization, empowers its staff to offer unsurpassed quality of customer service, through individual acts of random kindness and specialty services” (Boardman Management Group, 2012, p. 1). This mission statement reflects that the company is a value and...
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...Today’s communication methods are various and sometimes complex. Everything from paper and pens to computer communication systems, modern communication has come a long way since our parents’ days. We can take our phones with us and keep up on current events like the recent earthquake in Japan, or check our electronic mail, talk to someone from around the world, and even get information on ourselves. In the communication era we are so connected to the rest of society that we almost never stop communicating to someone. Healthcare uses a lot of different communication channels. We have focused on verbal vs. non-verbal, EMR and e-mail. Verbal communication is a major factor in an office setting, weather it is in the health care industry or any other office setting. Before a health care worker performs any medical procedure or care task with a patient, it's important they use verbal communication to inform the patient. This allows the patient to know what to expect. Verbal communication can also be used by the patient to inform the health care worker how they are feeling, what concerns they have and any other questions the patient may have. Non-verbal communication in the health care setting comes from eyes, hands and other parts of the body. Providing eye contact, not crossing the arms and leaning in when talking to a patient are non-verbal ways to communicate you care. Non-verbal communication is usually understood as the process of sending and receiving wordless message....
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...Tax Research Memorandum Peaceful Pastures Funeral Homes, Inc. Prepared by: May 25, 2014 May 25, 2014 TAX FILE MEMORANDUM FROM SUBJECT Peaceful Pastures Funeral Home, Inc. Peaceful Pastures Funeral Home, Inc. has contacted me for advice in regards to an audit notice rendered to them by the IRS. The incorporated funeral home wants to know if the IRS is correct when stating that Peaceful’s program has prepaid income that must be included in the company’s income and is subject to tax. FACTS Peaceful is an accrual basis taxpayer that offers funeral services together with products related to the services. The company created a program, after experiencing bad debts and losses, that gives customers the opportunity to pay for goods and services in advance that will be incurred by them at the time of death. The contract included a promise to the purchasers to refund payments at any time up until the goods or services are rendered to them. Because peaceful is an accrual basis tax payer, the pre payments from the customers and income gained from them are subject to tax. ISSUE Are the payments made in advance by the customers for Peaceful’s program considered prepaid income that is taxable at the end of the year? CONCLUSION The prepaid income from the customers is realizable as income only in the year that Peaceful receives the pre-payments. This means that income is not realizable at the time that the goods and services are rendered. Because of this, the IRS was correct in...
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... 2. All companies listed on the ____________________ are public company but not all public companies are listed. 3. In a meeting, ____________________ notice is required in order to remove an auditor or a director of a public company. 4. If a name is available to form a company, the Registrar will reserve it for ____________________ months. 5. One of the documents to be lodged with the Registrar to form a company is Form 48A, statutory declarations by promoters and ____________________. 6. Under Section 181 (1) (a) of Companies Act 1965, an oppression remedy can be applied where affairs of company or power of directors exercised in oppressive manner to one of the members or ____________________ to member’s interest. 7. The Memorandum of Association (MOA) defines the essential components of the structure of the company, partly for the ____________________ of those who do business with it 8. One of statutory exceptions for separate legal entity is provided under ____________________ of Companies Act where if a company breaches the prohibition against providing financial assistance for the purchase of its own shares, its officers and not the company, would be guilty of a criminal offence. 9. As affirmed in Khoo Choon Yam v Gan Miew Chee @ Gan Khuan Poh, Dato’ Dr & 6 Ors (2000), if all the directors are present together in ____________________ and consent to the meeting being held without notice, proceeding is valid despite the defect in convening the notice. 10...
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...structure and language should fit the relevant “cultural intelligence” – avoid pomposity, hectoring, overly academic language. Keep it simple, follow a logical order. You should use Numbered Paragraphs and use Paragraph Titles. The style should be professional and courteous but in view of the many issues that need to be addressed, brief and to the point. You have been asked to act as a company promoter and to this end there are forms (Company Constitution and Memorandum of Associate) to find and fill out. NB If you are unable to find an IN10 Form do your best to make one up bearing in mind the need to set out Co. Name, Rules in relation to the conduct of meeting (AGM) and most important the allocation of shares, the voting rights attached to the shares and the distribution of profits. These should also be included in an Appendix. Ensure that you understand your responsibilities and liabilities as a “Company Promoter” This is a legal advice it should not contain generalised business / entrepreneurial advice The Mark...
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...COMMUNICATION PROCESS AND PROCEDURES AT THE WORKPLACE IN REFERANCE TO PUBLIC SERVICE A PAPER PRESENTED DURING THE INTERNAL AWARENESS SEMINAR : UGANDA INSTITUTE OF INFORMATION AND COMMUNICATIONS TECHNOLOGY BY HAJJI BOGERE ABBU PRINCIPAL HUMAN RESOURCE OFFICER MOICT OBJECTIVES OF THE PRESENTATION: At the end of the presentation participants should be able to: Define key concepts; Be familiar with the ways in which to communicate in the Public Service; Be familiar with the communication protocol in the Public Service, and Appreciate the do’s and don’ts of communication in the public service PRESENTATION OUTLINE Introduction, Hierarchy in the Communication, Do’s and don'ts in Communication; Channels of communication in the Public Service; Communication language in the Public Service and Conclusion. INTRODUCTION Communication is the process of transferring information from a sender to a receiver with the use of a medium in which the communicated information is understood by both sender and receiver. It is a process that allows organisms to exchange information by several methods. Communication is like a double-acting hinge, swinging outward to release your own ideas and swinging inward to receive the worthy thoughts of others. – Stacey Huish A two-way process of creating, transmitting and interpreting ideas, facts and feelings. There must be a sender (source) who facilitates the communication and a receiver to receive that message; ...
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...Muhammad U Khan DeVry University ACCT 429: Federal Income Taxation Professor Deanna King Research Essay Assignment 1 Passive loss limitations were introduced in the Tax Reform Act of 1986, and were designed to limit a taxpayer’s ability to use rental or business losses to offset other income. The regulation limited losses to a fixed dollar amount, and also limited the total loss exposure to the amount of investment and leverage commitment (basis and at-risk limitations). By taking such measure the regulation did succeed in limiting such investments but still did not completely eliminate them. According to irs.gov oil and gas activities in which the tax payer has a working interest with the entity with an unlimited liability is un-effected by the passive loss limitation. What that means is that if the taxpayer owns interest in an oil and gas activity via a joint venture, his liability will not be limited. The passive loss limitations will not be applied. Losses or income will be non-passive. Energy Investments, Inc. Energy Investment Inc. with its online offering at http://www.energyinvestmentsinc.net/index.php?&page=why&keyword=oilgas&gclid=CJvJ-OrxwLgCFYyd4AodZicAHw, is offering an annual return of 20-80%. As mentioned on the above website the return rate is determined from a ‘depletion allowance’, ‘high financial rewards’ and a “hedge against inflation”. The company also mentions “Return of Capital in 6 to 12 months Better than 10 to one Return on...
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...Protect Your Information Personally identifiable information or PII defined by Department of Commerce as “Information which can be used to distinguish or trace an individual's identity, such as their name, social security number, biometric records, etc. alone, or when combined with other personal or identifying information which is linked or linkable to a specific individual, such as date and place of birth, mother’s maiden name, etc. (OMB Memorandum M-07-16, Note 1). The definition of PII is very broad and makes no distinction between “sensitive” and “non-sensitive” PII. Terms not specifically defined within this Memorandum (e.g., sensitive) should be considered to reflect the definition found in a commonly accepted dictionary. (OMB Memorandum M-07-16, Note 7). Examples include direct references such as name, address, social security number, and e-mail address. It also includes any information that could be used to reference other data elements that are used for identification, such as gender, race, and date of birth.” This has been around for a very long time, it can cover many topics for example employee monitoring, information privacy, (the biggest) identity theft, etc. Every single topic mentioned go hand and hand in a general converstion of PII. I wonder from time to time where does my information go, who hands it in, are they responsible, how can I trust that anonymous person? These questions can go on forever and ever but, I can worry less about my information now...
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...To: Attorney Valdes From: Paralegal Goines Date: 01/06/2016 Re: Natalie Attired claim for wrongfully withholding unemployment compensation against (NMESB) Memorandum Statement of Facts Natalie Attired was an employer at Biddy’s Tea House for three months. She asked another waitress about getting a tattoo. The waitress advised her not to get it where it would be visible or she would be fired. The waitress that gave her the advice was working there for ten years. Natalie did not take the other waitress advice and still got the tattoo. The tattoo was not fully covered by the uniform. The tattoo covered her entire upper right arm. The length was shoulder to elbow. Biddy Baker was not pleased with the tattoo. He asked her to remove the tattoo if she wanted to keep her job. Natalie refused. After the week was finished she was given a termination notice. She applied for unemployment compensation but was terminated for “misconduct”. Questions Presented * Can Natalie Attired file a claim against New Mexico Employment Security Board (NMESB) for wrongfully withholding her unemployment compensation? * Should Natalie be able to receive unemployment compensation? Answers Briefed * No, Natalie cannot file a claim because she was technically in the wrong. She knew that the tattoo was not a good idea for the environment and was warned. * No, Natalie was terminated for “misconduct”. She also was proven to show actions of misconduct. Applicable Statute ...
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...NCC BANK LTD. ANNEXUR- ‘A’ Loan Documentation Checklist |Borrower : |M/S.Chandra Spinning Mills Ltd. CD A/C# 0210008345 | |Registered Address : |240 Tejgao Industrial Area, Dhaka-1208 | |Status : |Private Limited Company | |Loan A/c. No.: |SOD(G) -0140000771, LTR, PAD,LFS. | |Sl No. |Nature of Facilities |Amount |Validity | |01 |LC/PAD |750.00 lac |30.06.2012 | |02 |LTR |700.00 lac |30.06.2012 | |03 |SOD(G) |50.00 lac |30.06.2012 | |04 |LDBP/FDBP |1000.00 lac |30.06.2012 | 01. General Documents: |Sl No. |Description ...
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...MEMORANDUM To: Anna Rieve From: Kristi Helmer Date: November 5, 2015 Subject: Audience Analysis Memo I have chosen to contrast two websites that deal with Women’s Health, more specifically health during pregnancy, childbirth, and newborns. The websites are BabyCenter.com (http://www.babycenter.com/) and the Association of Women’s Health, Obstetric and Neonatal Nurses (https://www.awhonn.org/awhonn/). The Association of Women’s Health, Obstetric and Neonatal Nurses is a website that promotes an organization. “Promoting the health of women and newborns” is the mission statement of this organization. (AWHONN, 2015) The primary audience for this website is obstetrical and neonatal professional nurses and nurse practitioners. It is an...
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...MEMORANDUM TO: FROM: DATE: September 17, 2013 SUBJECT: Advice on Purchasing a Set of Reference Books Introduction I find that colleagues in the financial department have a problem when looking for the latest official sources. We need to have some good reference books or periodical in the field of accounting, and a complete set of Wiley CPA Exam Review 2013 is a good choice to begin with. There are several reasons for this recommendation including: Published annually. Based on the current standards and requirements provided by AICPA, the reference book will create or upgrade the latest information a new edition every year. It includes all the situations that happen in business and the proper way to solve these problems. Enhanced Job Performance. The content in this book is divided into several parts, and its unique modular format makes people easy to find the situations they meet in business. Some of latest information which is not free to download also can be found in this reference book. It reduces the times of looking for and purchasing sources on the Internet, thereby saving time for employees who work in financial department. Develop abilities. The book also is a handbook for those people who want to take CPA exams, and our company will advance if there are more professional employees in the financial department. The more professionals we have, the higher reputation our company has in the same industry. Conclusion ...
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