Pre emption right 473 268 maintenance of share

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Pre-emption Right 473 26.8 Maintenance of Share Capital 473 26.9 Chapter Summary 479 26.10 Practice Questions 479 27 Company Loan Capital 481 27.1 Meaning of Loan Capital 481 27.2 Learning Objectives 481 27.3 Debenture 482 27.4 Charges 483 27.5 Chapter Summary 488 27.6 Practice Questions 488 28 Insolvency And Liquidation Companies 490 28.1 Introduction 490 28.2 Learning Objectives 490 28.3 Company Voluntary Arrangement 490 28.4 Receivership 491 28.5 Administration 492 28.6 Compulsory Winding Up 495 28.7 Voluntary Winding Up 500 28.8 Chapter Summary 502 28.9 Practice Questions 503 Part 6: Wrongdoings In Businesses 504 29 Fraudulent, Wrongful And Insider Trading 505 29.1 Introduction 505 29.2 Learning Objectives 505 29.3 Fraudulent Trading 506 29.4 Wrongful Trading 509 29.5 Insider Trading and Market Abuse 511 29.6 Chapter Summary 514 29.7 Practice Questions 515 Download free eBooks at bookboon.com
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BUSINESS ORGANISATIONS AND AGENCY viii CONTENTS 30 Money Laundering, Bribery And Phoenix Companies 516 30.1 Introduction 516 30.2 Learning Objectives 517 30.3 Money Laundering 517 30.4 Bribery 519 30.5 Restriction on the Re-use of Insolvent Companies’ Names 522 30.6 Chapter Summary 523 30.7 Practice Questions 523 Part 7: Agency Law 524 31 Agency Law 525 31.1 Introduction 525 31.2 Learning Objectives 526 31.3 Types of Agents 526 31.4 Establishment of Agency Relationship 526 31.5 Agents’ Authority 532 31.6 Duties of Agents 534 31.7 Remedies for Agents’ Breach of Duty 540 31.8 Rights of Agents 541 31.9 Liability of Agents 543 31.10 Termination of Agency 543 31.11 Chapter Summary 544 31.12 Practice Questions 545 List of cases 546 List of statutes 565 Endnotes 573 Download free eBooks at bookboon.com
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332 PART 5: PARTNERSHIPS AND COMPANIES Download free eBooks at bookboon.com
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BUSINESS ORGANISATIONS AND AGENCY 333 PARTNERSHIPS 18 PARTNERSHIPS 18.1 INTRODUCTION A business may operate as a sole proprietorship, partnership or company. The choice of business organization is determined by many things, including, the number of people involved, the amount of money they have to invest, their ambition, their need for privacy and control, the nature of business, etc. The most important of the business forms are partnerships (in its various formats) and incorporated companies and are the ones with which we shall mostly concern ourselves. Sole proprietorships are of limited importance in terms of law relating to businesses. It is the simplest and most flexible form of business medium and has minimal formality. A sole proprietorship is typically an unincorporated business owned and operated by one individual, albeit sometimes with the help of people who are not co-owners. Such a business enterprise would not be a separate legal entity under the law, but rather would be an extension of the individual who owns it. The owner has possession of the business assets and is directly responsible for the liabilities incurred by the business. The profits and losses of a sole proprietorship are combined with the other incomes of the owner for income tax purposes. There are three types of partnerships, namely, the general partnership, the limited partnership, and the limited liability partnership.
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  • Fall '19
  • Corporation, Managing Partner

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