Question - Differences between a limited company form of business and a sole trader form of business ____________________________________________________________ __________________ Sole Trader A structure in which a business is owned by one person‚ acting under their own name or using a ’trading name’. This person is fully liable for the company’s debts and contracts and there is no distinction in law between the business and their own personal wealth i.e. unlimited liability. This means
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Case 1 Managers are most likely to step across ethical and legal boundaries when the pressure to perform is great. Pressure can be healthy but companies that set high-performance targets and grant large rewards for achieving these must have strong control systems to ensure that people are not tempted to cross boundaries. What are the four important control systems? Please identify each control by name. Strategy WorldCom never really had a strategic plan‚ committee‚ or framework. Their plan
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Foster v. Cross Supreme Court of Alaska 1982 Facts In the fall of 1977‚ Michael Stephens‚ sole proprietor of Stephens Construction‚ asked Warren Sanders‚ a local real estate broker‚ to find a large piece of land that would be suitable for development into a single family residential project. Sanders located several parcels and found a homestead staked and owned by Robert and Arlene Cross. Sanders contacted and met with Robert Cross in February of 1978 and stated that he was looking for land
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by way of case stated by one of the stipendiary magistrates sitting at Bow Street‚ before whom informations were preferred by police officers against the defendants‚ in each case that she ‘being a common prostitute‚ did solicit in a street for the purpose of prostitution‚ contrary to section 1 (1) of the Street Offences Act‚ 1959.’ The magistrate in each case found that the defendant was a common prostitute‚ that she had solicited and that the solicitation was in a street‚ and in each case fined the
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THIRD DIVISION |RODOLFO J. SERRANO‚ |G.R. No. 187698 | | Petitioner‚ | | | |Present: | |
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illegality‚ and no right of action exists in respect of anything arising out of the transaction. In such a case the maxim In pari delicto‚ portior est conditio defendentis applies‚ and the test for determining whether an action lies is to see whether the plaintiff can make out his claim without relying on the illegal transaction to which he was a party. Halsbury 2nd Ed. Vol. VII p. 173. Case referred to Bowmakers Ltd v Barnet Instruments Ltd (1945) 1 KB 65; (1944) 2 All ER 579 1953 1 MLJ 239
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San Fabian Supply Company Case Study Points of View San Fabian has been in the supply and distribution industry for almost three decades. They made its name through the quality line products that the company carried for over 67 firms. But during the early years of the company‚ 95% of its sales came from imports‚ however‚ because of the government’s control on import and somehow to patronize the locally manufactured products San Fabian became the distributor of products that are locally made in
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Supreme Court of the Philippines The Supreme Court of the Philippines (Filipino: Kataas-taasang Hukuman ng Pilipinas) is the country’s highest judicial court‚ as well as the court of last resort. The court consists of 14 Associate Justices and 1 Chief Justice. Pursuant to the Constitution‚ the Supreme Court has "administrative supervision over all courts and the personnel thereof".[1] The Supreme Court complex occupies the corner of Padre Faura Street and Taft Avenue in Manila‚ with the main building
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resolution to remove them as directors‚ such a right was valid even though this might in practice defeat the s 303 ordinary resolution power to remove directors. Re Richborough Furniture [1996] 1 BCLC 507 ‘…clear evidence that he had been either the sole person directing the affairs of the company [or acting with others all equally lacking in a valid appointment…) or‚ if there were others who were true directors‚ that he was acting on an equal footing with the others in directing the affairs of the
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Republic of the Philippines SUPREME COURT Manila EN BANC G.R. No. L-13954 August 12‚ 1959 GENARO GERONA‚ ET AL.‚ petitioners-appellants‚ vs. THE HONORABLE SECRETARY OF EDUCATION‚ ET AL.‚ respondents-appellees. K.V. Felon and Hayed C. Cavington for appellant. Office of the Solicitor General Edilberto Barot and Solicitor Conrado T. Limcaoco for appellees. MONTEMAYOR‚ J.: Petitioners are appealing the decision of the Court of First Instance of Masbate dismissing their complaint
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