The company that is limited by shares issue shares to the owner. A company limited by guarantee owners are not refer to as share holders but members. There are no shares issued; the members contribute for the formation. A memberis limited to the total amount of money contributed to the company. Private company has more capital compared to a sole trader and partnership firms, which have less capital.
All the members of the company contribute for the start-up capital. The company can also borrow money from the financial institution using the company assets as a security. The company name of the marketing consultancy firm is Eagle marketing consultancy limited.
Thename of thecompany should unique to the company alone and need approval from the registrar of companies. After the approval of the name, Sane is required to file a memorandum of association and the article of association with the registrar companies. Memorandum of association is a document that explains external environment and the company.
Article of Association states the company and employee relationships. The company solicit or should verify the two documents before presentation to theregistrar of companies.
The documents should be properly dated and have the company seal and direct or signatures. Sane should state the total number of members of the company. A young man called James was hurt in a white water rafting accident due to the negligence of some staff of WRL who were acting under the authority of the then Managing Director of WRL, Richard.
Richard had been trying to run WRL down, because he knew that the claim would break the company and he told me that he didn't want to give James the satisfaction of taking WRL's money.
He transferred some of the money to another company which Richard's wife owns, called Active Breaks Ltd. And the rest of the money was transferred to DSP which we were happy about as DSP was having some cash-flow problems at the time. I've heard that James is taking further legal advice and now I'm worried that DSP might suffer because of Richard's actions.
Finally, we have bad news from CCL. We recently found out that CCL has been put into insolvent liquidation. During the months before its liquidation, the Managing Director of the company, Linda, had been making increasingly bizarre attempts to keep the company afloat, including spending huge sums on advertising. She also made some outrageous claims about the company's ability to fulfil some large contracts for holiday companies, and as a result secured several large deals which were then breached by CCL.
We are wondering whether the liquidator or the holiday companies could place any of the blame on her, as she has loads of cash and DSP is still hoping to recover some of CCL's assets after all the creditors have been paid.
Please prepare some written advice for David Matthews. January, Date submitted: November 04, Coursework ID: To provide a critical answer to the above statement it is important to look at the concepts with regard to incorporation, firstly the history of the incorporated company and its case law, May, Date submitted: April 05, Coursework ID: Nevertheless, the need for a special limited liability company regime for owner-managed firms has been reviewed and rejected for clear and convincing reasons.
The temptation to create a new legal form because other jurisdictions have something of this type has been resisted, rightly. In March of , the DTI, concerned with the performance of the UK in the new global economy, and with the aim of creating a more competitive and efficient company law regime, November, Date submitted: March 30, Coursework ID: In January , British October, Date submitted: April 16, Coursework ID: February, Date submitted: The general idea behind the Community Interest Companies CIC is to have available a custom made legal vehicle for community and social enterprises where the profits are to be made available for public work.
However, a more focused Community Interest test is in place which has been said to make the implementation of such Companies impossible. Further, it has been said that the Regulator of CIC does not seem to have proper guidance as what constitutes a Community Interest Company.
Do you agree with the above statement? A Community Interest Company CIC is a type of limited company specially set up for social enterprises which want to use their profits and assets in favor of the public. April 23, Coursework ID: Discuss corporate personality and limited liability. While that legal system imposes obligation on the legal person it confers rights. In essence humanity is a state of nature and legal personality is an artificial construct which may or may
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