Foreign companies iv. Trade organizations v. Societies‚ and vi. Partnership firms RJSC accords registration and ensures lawful administration of the entities under the provisions of applicable act as under: i. Companies and Trade Organizations: Companies Act‚ 1994 (Amendment of Companies Act 1913) ii. Societies: Societies Registration Act‚ 1860 iii. Partnership Firms: Partnership Act‚ 1932 The major functions and activities of RJSC are
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The partnership act 1890 governs the relationship of the persons and the outside world. And in respect of dissolution; if there is no partnership agreement‚ the partnership act set out the rights and duties of the partners. Such rights and duties (by act or agreement) may be varies by the consent of all partners. (S 19). ‘The relation which subsists between persons carrying on a business in common with a view to profit.’ Under S24 (5) ‘in common’ means every partner has a say in the firm. The members
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Chapter X : Overview of Business Finance • In the olden days knowledge is acquired through apprenticeship. • Today‚ business ability is acquired through classroom instructions and study of textbooks. What is business? • Business’ purpose – production and marketing of every possible article and service that will help human wants at the most convenient and reasonable manner at a profit. • Main purpose of businessman – make profit out of which to support himself and his dependants. Categories
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The Civil Code of the Philippines AN ACT TO ORDAIN AND INSTITUTE THE CIVIL CODE OF THE PHILIPPINES The Civil Code of the Philippines - At a Glance Preliminary Title Articles 1-36 Book One Articles 37-413 Book Two Articles 414-711 Book Three Articles 712-1155 Book Four Articles 1156-2270 \REPUBLIC ACT NO. 386 AN ACT TO ORDAIN AND INSTITUTE THE CIVIL CODE OF THE PHILIPPINES PRELIMINARY TITLE CHAPTER I EFFECT AND APPLICATION OF
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before the marriage 2. by provisions of this Code 3. by the local custom the couple before marriage may enter into a marriage settlement that they want: a) Absolute Separation of Property b) Absolute Community of Property c) Conjugal Partnership of Gains or Relative Community of Property d) Dowry system and others... If the parties entered into marriage without executing any marriage settlement as in the common practice among Filipino couples‚ then the SYSTEM OF ABSOLUTE COMMUNITY
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There are several types of Limited Liability Companies (LLC) but to understand the differences between them an LLC needs to be defined. “An LLC is an unincorporated business entity that combines the most favorable attributes of general partnerships‚ limited partnerships‚ and corporations” (Cheeseman‚ 2010‚ p. 613). LLCs were first seen in 1977 in the state of Wyoming and are currently available in every state as a form of business entity. They are regulated under state laws and are considered its
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Art. 1767 - By the contract of partnership two or more persons bind themselves to contribute money‚ property‚ or industry to a common fund‚ with the intention of dividing the profits among themselves. - Two or more persons may also form a partnership for the exercise of a profession. Partnership: A partnership is a joint undertaking profit and loss A partnership is the status arising out of a contract entered into by two or more persons whereby they agree to share as common owners
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This exam covers general legal knowledge relating to the business environment‚ a basic knowledge of the law of contracts‚ and an understanding of the responsibilities and risks that arise in business‚ with particular regard to the law relating to corporate entities. Topics: 1. Sources of law 1.1 Identify the sources of different types of law 1.2 Identify the features of the different legal systems 1.2.1 Common law 1.2.2 Civil law 1.2.3 Sharia law 2. Common law and legislation: precedent
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Q. What is a general offer? How is a contract created through general offer? Refer to leading cases. An offer may be made to the world at large. Such an offer is a general offer. However‚ a contract is not done with the whole world but only with the person who comes forward and accepts the offer. The acceptance might be express or implied. As per Anson‚ "An offer need not be made to an asertained person‚ but no contract can arise until it is accepted by an ascertained person". Case of Carllil
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SCHOOL OF BUSINESS STUDIES DIPLOMA IN BUSINESS STUDIES (ACCOUNTING) YEAR 3 - SEMESTER 1 ABBL 3144 CORPORATE LAW AND GOVERNANCE COURSEWORK 1 LIEW MEI MEI 11SBD01697 OOI TZE CHI 11SBD06409 SYNDHRA SIMIN 11SBD06051 WONG YEE MUN 11SBD00641 TUTORIAL GROUP: SDAC2 (B) TUTOR: MS CHONG PIT KEE DATE OF SUBMISSION: 17TH JUNE 2013 TABLE OF CONTENT Cover Page | 1 | Table of Content | 2 | Plagiarism Statement | 3 | Assignment Questions | 4 | Content
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