This paper examines the type of corporation which meets James’s best
interest.
Abstract
This paper examines the type of corporation which meets James’s best
interest. A company can be set up with or without shares available to
the public, divided into the public company which is expensive to
obtain and maintain, and the private company which is appreciated by
most businesses to begin with. Also, there are limited and unlimited
companies. In addition, a company can be classified as limited by
guarantee or limited by capital shares which are in most companies’
favour. These are governed in the main by the Companies Act 1985 and
relevant case law.
Introduction
There are several types of company. The most common company is a
limited company, the liability of the members being limited to the
amount they have previously agreed. According to Denis Keenan (1996),
a corporation is a succession or collection of persons having at law
an existence, rights and duties, separate and distinct from those of
the persons who are from time to time its members.
This paper explains the reasons to form a company, and the reasons why
a private company is more preferable than the public one, together
with the discussion of the company limited by guarantee and unlimited
company. Finally, the cases in Salomon v. Salomon Co. (1897) and
Marcaura v Northern Assurance Co. Ltd help to evaluate the principle
of personal succession which is the unique feature of being a
company. Across the paper, James is given recommendations to the type
of company which best suits his needs.
a) Advantages of Incorporation
Incorporating a company offers James many advantages, even if he is
doing one-person business. Some of these advantages are:
- Separate legal personality. A corporation is by law recognized as a
separate legal person. Since a partner in a general partnership
represents an agent of the business, when a change happens about
partners, it in most times differentiates the partnership. On the
other hand, a corporation is not dependent on the life of
shareholders, directors, and officers, and will not be affected by
changes in, deaths and retirement of its members since it is by law
recognized as a separate ‘person’.
Furthermore, the day-to-day business is running unaffected. As a
separate person, a company can enter into transaction i...
... middle of paper ...
... states that a shareholder is permitted to change the contents of the
article and memorandum by special resolutions. A quick company may be
born and improved to best meet James’s needs. It should be mentioned
that the company is better to be limited by a capital share, as the
limited by guarantee is not very keen on the profit-generating
process.
Bibliographies
Books
Andrew Hicks & S.H.Goo (2001) Cases & Materials on Company Law (4th
ed.). London, Blackstone Press Limited.
Denis Keenan (1996) Smith & Keenan’s Company Law for Students (10th
ed.). London, Pitman Publishing
Geoffrey Morse (1999) Charlesworth &Morse Company Law (16th ed.)
London: Sweet & Maxwell.
Janet Dine (2001) Janet Dine Company Law (4th ed.). Palgrave Law
Masters
Paul L. Davies (2003) Gower and Davies Principles of Modern Company
Law (7th ed.). London: Sweet & Maxwell.
S. Kunalen & Susan Mckenzie (2001). Blackstone’s Law Questions &
Answers- Company Law (2nd ed.). London, Blackstone Press Limited.
Stephen Mayson, Dereck French & Christopher Ryan (2000) Mayson French
& Ryan on Company Law (17th ed.). London: Blackstone Press Limited.
Web materials
www.businesslink.gov.uk
In conclusion the 1918 Representation of the People Act was a huge turning point in women's rights and allowed brand new opportunities to come forward as well as that it showed the rewards from the campaigns that had previously been performed. This Act would have encouraged the suffrage movement to continue what they were doing in order to achieve even more results and changes to the system to give women even more chances than they had already been given.
Moran, J. J. (2008). Employment law: New challenges in the business environment. New Jersey: Pearson Prentice Hall.
Bratton, W.W. & Wachter, M.L. (2008). Shareholder primacy's corporist origins: Adolf Berle and the modern corporation. Journal of Corporation Law, 34 (1): 99-152.
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Bibliography: Turnbull, S. (1997). Corporate governance: its scope, concerns and theories. Corporate Governance: An International Review, 5 (4), pp. 180--205.
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In today’s society, it is acknowledgeable to assert that the concepts of race and ethnicity have changed enormously across different countries, cultures, eras, and customs. Even more, they have become less connected and tied with ancestral and familial ties but rather more concerned with superficial physical characteristics. Moreover, a great deal can be discussed the relationship between ethnicity and race. Both race and ethnicity are useful and counterproductive in their ways. To begin, the concept of race is, and its ideas are vital to society because it allows those contemporary nationalist movements which include, racist actions; to become more familiar to members of society. Secondly, it has helped to shape and redefine the meaning of
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The definition of the Internet put in one sentence is: A worldwide network of computer networks that use the TCP/IP network protocols to facilitate data transmission and exchange, where anyone with a computer can access the internet through an ISP (Internet Service Provider).
[7] Cavendish Lawcards Series (2002) Company Law (3rd edn), p.15 [8] [1976] 3 All ER 462, CA. [9] Griffin, S. (1996) Company Law Fundamental Principles (2nd edn), p.19 [10] [1990] Ch 433. [11] Lecture notes [12] Lecture notes [13] [1939] 4 All ER 116.
The WWW incorporates all of the Internet services above and much more. You can retrieve documents, view images, animation, and video, listen to sound files, speak and hear voice, and view programs that run on practically any software in the world, providing your computer has the hardware and software to do these things.
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