Tutorial_7_-_Co_Law.ppt

Tutorial_7_-_Co_Law.ppt - Business Law Company Law Tutorial...

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Business Law Company Law Tutorial 7
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Question 1 Piper and Snap wish to form a company. Explain to Piper and Snap the preincorporation procedures to register a company. (10 marks)
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Decided types of company Fees
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Question 2 State and explain to Snap and Piper the advantages of incorporating a company. (10 marks)
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Separate legal entity Limited liability More Capital Perpetual succession Contractual Capacity
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Question 3 Tom, Jerry and Bob are partners in a firm of event- planners. They have been together in business for the last 9 years. However, they did not have a written partnership agreement. At the beginning, Bob paid 50% of the capital, whereas Tom and Jerry paid 25% each. All 3 of them had equal responsibilities in the business. In view of this, they shared the profits equally. Explain the consequences of each of the following independent situations: Tom borrowed RM10,000 from Down Bank for his own use. Is the firm, Jerry and Bob liable on this loan?
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  • Spring '14
  • Business Law, Corporation, partnership agreement, Tom

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