Business Law

[ follow law]
The Companies Act, 1956

{What is Company – Joint note Company? Characteristics of a Company, Types of keep ships company - Private Co, Public Co. Privilege of a private Co, producer Co, Salomon’s case, piercing the corporate veil}

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 Corporate veil

What is Company?

The Company Law has been passed to unite and modify the law relating to companies and some early(a) associations. This is basically formed to achieve the following objective:

⇨ to march on investments
⇨ to ensure proper administration
⇨ 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 existing company.”

A company is an association of certain people, who are associated for the common interest. A company is a form of problem organization in which the funds of a large government issue of investors are managed by a few persons for the purpose of earning lucre which are shared by all the investors.





A company or corporation (the words have the same meaning) is a legal entity that is separate from its members. When you form a company, you form an unreal legal person which can hold and dispose of property, take aim legal action and sign documents. Because of this separate legal entity a company can have assets and liabilities and make profits and losings quite separately from its members.

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 also of fixed amount, or held and transferable as stock or divided and held partially in one way and partly in the other. such a company when registered with...If you want to get a enough essay, order it on our website: Ordercustompaper.com



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