CORPORATE LAW

Corporate law



Corporate law

Introduction

"Company" of “corporate”, the word is used to refer to an association of a number of people trained with a common purpose. Its meaning comes with two consequences:

That the members of the association are so numerous that they cannot be described as a company or partnership, and

That a member may transfer its interest in the partnership without the consent of all other members Buckley J, however, note that if the company is a company limited by shares, there are often restrictions on the transfer of shares in the company's partner).

In English law, the use of "society" the word is associated with companies that have been incorporated by registration under the Companies Act 1985 and governed by the provisions of the Act and subsequent legislation, but may include companies incorporated and registered in previous laws (Reiner, 2004, 3).

Types of companies

There are many other types of legal entities involved in trade and business activities similar to a company but cannot be described as businesses. These include:

The organizations built as a result of the provisions of an Act of Parliament allowing the incorporation to be held by anybody of people who meet certain conditions (e.g., building societies and industrial and provident societies), and

The organizations known as public companies created to fulfill a special purpose, by Royal Charter or more commonly, by an Act of Parliament that defines the objects, constitution and powers of the corporation (as the BBC, OFTEL and the Authority Coal - Coal Authority, for example, created by the Coal Industry Act 1994,).

Companies can be incorporated or unincorporated. Companies incorporated are recognized by law as having a personality that is distinct from the independent members of the members of the firm (Companies Act 1985, s 13 (3), (4)). Unincorporated businesses instead have no independent existence and not an entity distinct from its members in the law (Grantham, 1998, 33).

Company Forms

With the exception of a company registered under the Companies Act 1985, a company can have an alternative structure for the purposes of trading, perhaps because the form of registered partnership is inappropriate for this type of business. For example, you can choose to be:

* A sole trader - you can carry on business as an individual without being in partnership with any other person. A sole proprietor can form a company limited by shares or by guarantee, but must accept the responsibilities that come with registration under the Companies Act 1985, such as the requirement that the accounts are delivered to the Registrar of Companies year;

A partnership or a company - a "partnership" refers to the relationship that exists between persons carrying on business in common with the profit motive (Partnership Act 1890 s 1 (1)). 'Company' refers to persons who are partners (Partnership Act 1890 s 4 (1)). An association or company is not recognized as a "person or legal entity entitled (Sadler v Whiteman [1910] 1 KB 868-889, CA, by Farwell J) and thus the association cannot sue or be sued (but Members can)

A limited ...