Business Law

[ follow law] The Companies Act, 1956 {What is telephoner – articulate note Company? Characteristics of a Company, Types of keep ships social club - Private Co, Public Co. Privilege of a private Co, producer Co, Salomon’s case, piercing the corporate enshroud} INDEX 1. What is Company 2. Characteristic of a company 3. Types of Company 4. Privileges of Private Company 5. Salomon’s Case 6. Piercing the unified veil What is Company? The Company Law has been passed to unite and switch the law relating to companies and some early(a) associations. This is basically formed to achieve the pursual objective: ⇨ to march on investments ⇨ to ensure proper formation ⇨ to prevent malpractices ⇨ to allow for investigations Company Means Sec. 3(1) (i) of the Companies Act, 1956 defines as: “A company formed and registered under this Act or an breathing company.” A company is an association of certain people, who are associated for the third estate interest. A company is a form of problem governing in which the funds of a large government put out of investors are managed by a few persons for the purpose of earning scar which are addressd by all the investors.

A company or corporation (the words have the same meaning) is a court-ordered entity that is separate from its members. When you form a company, you form an profitless legal person which can hold and dispose of property, presume aim legal action and sign documents. Because of this separate legal entity a company can have assets and liabilities and make boodl e and losings quite separately from its memb! ers. Sec 566 of the Act defines a conjunction Stock company as: “A Joint Stock company means a company having a imperishable paid up or nominal share seat of government of fixed amount divided into shares in addition of fixed amount, or held and transferable as stock or divided and held partially in one way and part in the other. such a company when registered with...If you want to welcome a enough essay, order it on our website: OrderEssay.net

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