1. Meaning of Winding up or liquidation The winding up or liquidation of a company means the termination of the company by stopping its business‚ collecting its assets and distributing creditors and shareholders‚ in the manner laid down in the Act. 2. Mode Of Winding Up According to section 234‚ the winding up of a company)‚ may be done in any three ways: one of the following (I) Compulsory winding up by the Court (ii) Voluntary winding up b)‚ the members or by creditors (iii) Voluntary
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UNIVERSITY OF KWAZULU-NATAL – PIETERMARITZBURG SCHOOL OF LAW: FAMILY LAW WORKSHEET MODULE AND CODE: FAMILY LAW (LAWS2FM/LAWS3FM/LAWP2FM) PART AND FULL-TIME ------------------------------------------------- Question 1 Mr and Mrs Grumpy were involved in a serious motor-vehicle accident. Mr Grumpy has fully recovered from his injuries‚ while Mrs Grumpy is still in a state of unconsciousness caused by head injuries she sustained during the accident. Mr Grumpy tells you that he had discussed
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Ouestion (a) Sole Proprietorship Sole proprietorship is a business owned one person‚ who has full control of the business and how it is run. They also own all the assets of the business and any profit that it makes. In the same vein‚ they are also responsible for all the debts and liabilities the business accrues. There are lots advantages by being a sole trader. The first advantage is easy formation. The formation of sole proprietorship business is very easy and simple. No legal formalities
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| |This Law provides for the establishment‚ management organization and operation of limited liability companies‚ joint-stock companies‚ | |partnerships and private enterprises (hereinafter referred collectively to as enterprises) of all economic sectors; and groups of companies.| |Article 2.- Subjects of application
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and David Bowie. By far its biggest celebrity endorser in this time period was Michael Jackson. The singer and PepsiCo struck a $5 million partnership that linked the two together for the rest of the 1980s. With Jackson as its prime celebrity endorser‚ PepsiCo was able to set itself up as the hip‚ trendy drink for the new generation. Pepsi’s celebrity partnerships enabled the company to gain market share even as Coca- Cola’s market share was dropping. Another notable achievement in marketing history
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CONCEPT OF EDUCATION Education involve training of entire person to enable them not only to read‚ write and calculate or to be proficient in a given job but also to enable them to fit themselves for living in the society‚ therefore‚ it is the training of a person intellectually‚ morally and physically. It is also an instrument for social development or social reform through individual development‚ education is a companion‚ it chastens vice and it guide virtues. Unarguably‚ education provides the
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business requires some research on licensing‚ state laws‚ and regulations. Opening a business requires choosing an entity‚ taking control‚ taxation methods‚ and liability issues. The most common types of business forms are sole proprietorship‚ partnership‚ corporation‚ and S corporation. Each type of business has its advantages and disadvantages when related to obtaining a start to a business‚ tax information‚ and liability. Lou and Jose are planning to open a sports bar and restaurants where customers
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earliest examples of bodies to be incorporated by Royal Charter (prior to parliamentary democracy). Commercial Development The 17th and 18th Centuries led to the formation of large‚ partnership-like structures known as joint-stock companies‚ so that pooled investments could be made. At this point‚ partnership and corporate law were fused. The Bubble Act of 1720 attempted to stop the rampant growth to joint stock companies (excessive speculation)‚ particularly in the Dutch tulip industry. Such
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1. The accounts of the partnership of Erwin‚ Ralph and Mon at the end of its fiscal year on September 30‚ 2013‚ are as follows: Cash P15‚000 Loan from Mon P10‚000 Other Assets 130‚000 Erwin‚ Capital (30%) 45‚000 Loan to Ralph 5‚000 Ralph Capital (50%) 30‚000 Liabilities 50‚000 Mon‚ Capital (20%) 15‚000 If Mon received P9‚000 on the first distribution of cash‚ the cash realized from the initial sale of asset was 65‚000 2. JM and PK‚ having capital balances of P245‚000 and P131
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P 205 case 7 Mary McDonald‚ an 86-year-old woman‚ was frequently complaining about the high cost of maintenance of her house and high property taxes. She decided to cancel her fire insurance to reduce expenses. Mary’s daughter was aware of her mother’s concern about the property‚ and she took Mary to the lawyer’s office to sign some papers that would protect her mother. When Mary came to the lawyer’s office‚ she was advised that the paper she was going to sign was the deed to the property. Mary
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