This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: -Declaration of compliance Termination-Sole Trader –at will-Partnership –Notice/End of Term/End of Project/ Death or Bankruptcy of a partner/ Court Order Company-usually by the winding up procedure-Dissolution 4) Private Limited Company-Must comply with s29 CO-Max 50 members-Pre emption rights-No Public Offers Advantages (features)-Separate personality SALOMON-Limited Liability-Capacity to sue and be sued-Own property-Perpetual existence-Criminal liability-Raise capital-By giving charges Disadvantages-Cost of Setting up and Running-Less flexible then partnership-No floating charges-Limited Privacy-Limited Membership 5)-Wong can give notice to his fellow partners-Wong must ensure he is not held out as being a partner after he leaves s16 P.O. TEAM B 1) Distinguish –Limited by shares –by guarantee...
View Full Document