eyes of law.” The system of joint stock organization is very useful for large undertakings for which large capital is required. It is an incorporated association created by law‚ having distinctive name‚ a common seal‚ perpetual succession‚ limited liability etc. formed to carry on business for profit. Characteristics of Joint Stock Company The most distinguishing characteristics of a joint stock company can be stated as follows – 1. Incorporated association : A company is an incorporated
Premium Corporation Stock Types of companies
1 Active & Intelligent Packaging 2013 Copyright © 2013 by Clear Seas Research/BNP Media. All rights reserved. Results of this study cannot be used in whole‚ or in part‚ for promotional literature or otherwise without the expressed written permission. ICS Carpet Cleaning Chemical Market Study Copyright © 2013 by Clear Seas Research/BNP Media. All rights reserved. Results of this study cannot be used in whole‚ or in part‚ for promotional literature or otherwise without the expressed
Premium Copyright Packaging and labeling Limited liability
personality Contents 1 2 3 The features of a limited company Types of company Advantages and disadvantages of incorporation: the veil of incorporation © EWP Go to www.emilewoolfpublishing.com for Q/As‚ Notes & Study Guides 199 Paper F4: Corporate and business law (English) The features of a limited company Comparison of companies with other forms of business The meaning of separate legal personality (‘doctrine of separate personality’) Limited liability Separation of ownership from control
Premium Corporation Types of companies Legal entities
STUDY ON ASSET LIABILITY MANAGEMENT IN BANKS ABSTRACT: In banking‚ ASSET AND LIABILITY MANAGEMENT (often abbreviated ALM) is the practice of managing risks that arise due to mismatches between the assets and liabilities (debts and assets) of the bank. This can also be seen in insurance. Asset liability management (ALM) is a strategic management tool to manage interest rate risk and liquidity risk faced by banks‚ other financial services companies and corporations. Asset-liability management basically
Premium Asset Balance sheet Risk management
all the profits. Disadvantages: difficult to raise large sums of finance‚ unlimited liability‚ difficult to transfer ownership‚ taxed at personal income rate. Partnership – business organization owned and operated by two or more individuals or entities. Can be General (all partners share in outcomes and have unlimited liability) or Limited (limited partners do not actively participate and liability is limited to their contribution). Advantages: Same as sole proprietorship Disadvantages: Same
Premium Finance Corporation Business law
also give John unlimited responsibility for Mike’s outstanding unpaid liabilities. In other words‚ unless John sells his shares of Mike’s Auto Repair Shop‚ he is liable in whole and in part for principal and interest obligations on bonds or other outstanding loans. Since John holds shares of a joint stock company‚ he is putting his own assets at risk of being liquidated if Mike were to file for bankruptcy. In a limited liability‚ if a company goes bankrupt‚ its creditors cannot seek the personal
Premium Stock Limited liability Legal entities
Topic 1 X Introduction to Company Law LEARNING OUTCOMES By the end of this topic‚ you should be able to: 1. 2. 3. 4. 5. List the types of business entities and its distinctions; Identify the various forms of companies and the changing of status; Discuss the doctrine of separate legal personality and lifting of the veil of incorporation; Describe the agency principles related to company law; and Evaluate the duties of a promoter and the pre-incorporation contracts. X INTRODUCTION
Premium Corporation Types of companies Company
ICLR: Appeal Cases/1897/ARON SALOMON (PAUPER) APPELLANT; AND A. SALOMON AND COMPANY‚ LIMITED RESPONDENTS. BY ORIGINAL APPEAL. AND A. SALOMON AND COMPANY‚ LIMITED APPELLANTS; AND ARON SALOMON RESPONDENT. BY CROSS APPEAL. - [1897] A.C. 22 [1897] A.C. 22 [HOUSE OF LORDS.] ARON SALOMON (PAUPER) APPELLANT; AND A. SALOMON AND COMPANY‚ LIMITED RESPONDENTS. BY ORIGINAL APPEAL. AND A. SALOMON AND COMPANY‚ LIMITED APPELLANTS; AND ARON SALOMON RESPONDENT. BY CROSS APPEAL. 1896 Nov. 16. LORD HALSBURY
Premium Corporation Limited liability Appeal
Salomon‚ Mrs. Salomon‚ four sons and a daughter. All the other members of the company had only one share each. After sometime the company had to be wound up on account of financial difficulties. The assets realized were 6‚000 pounds while the liabilities were 10‚000 pounds to Salomon as a secured creditor and 7‚000 pounds to outsiders who were unsecured creditors. The creditors claim priorities over Salomon (Secured Creditor) on the ground that Salomon and Salomon & Co. were one and the same. It
Premium Corporation Types of companies Limited liability
of incorporation to be lifted explain the main categories of veil lifting applied by the courts. Essential reading ¢ ¢ Dignam and Lowry‚ Chapter 3: ‘Lifting the veil’. Davies‚ Chapter 8: ‘Limited liability and lifting the veil at common law’ and Chapter 9: ‘Statutory exceptions to limited liability’. Cases ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ Gilford Motor Company Ltd v Horne [1933] Ch 935 Jones v Lipman [1962] 1 WLR 832 D.H.N. Ltd v Tower Hamlets [1976] 1 WLR 852 Woolfson v Strathclyde RC [1978] SLT
Premium Corporation Subsidiary Limited liability