Limited, Business Law and Ethics

Name to end with the word "Limited":

                            S.5(1)(a) provides that the word "limited" must be the last word of the name of a company which is to be limited by shares or by guarantee. In Durham Fancy Goods Ltd v Michael Jackson (Fancy Goods) Ltd Donaldson, J, stated:

"The word "Limited" is included in a company's name by way of description and not identification. Accordingly, a generally accepted abbreviation will serve this purpose as well as the word in full. The rest of the name, by contrast, serves as a means of identification".

The use of the mystic word "limited' as the last word of a company's name is explicable only in the context of the historical evolution of English Company law. It was prescribed for the first time for English companies in 1856 by the Joint Stock Companies Act of that year and, in the words of Professor Gower, "was intended to act as a red flag warning the public of the dangers which they ran if they had dealings with the dangerous new invention". A member of the public dealing with a business organisation whose name ended with "ltd" was to be made aware that he was not dealing with a partnership and so could only blame himself if he burnt his fingers in the process. Its function may be likened to that of the ring on a married person's finger.

Posted Date: 1/12/2013 2:21:51 AM | Location : United States







Related Discussions:- Limited, Assignment Help, Ask Question on Limited, Get Answer, Expert's Help, Limited Discussions

Write discussion on Limited
Your posts are moderated
Related Questions
Public Law: Whether it contain of those fields or branches of law  where such the state has an interest as the sovereign egg criminal law, administrative law, constitutional l

Holder in Due Course - Transferor's Title Section number 29 of the Act defines like "a holder in unpaid course" such like "a holder who that has taken a bill, so then complete a

Accuracy of the managers certificate: Was it the duty of the auditors to test the accuracy of the manager's certificate by a comparison of the figures in the books, and were t

Types of Agents - Agency Law Although broadly agents are either special or might be general depending on the scope of authority.  Subsequently an agent engaged to carry a task

Exceptions - Authority of Partners The rule stated is a general rule, such there are a few exceptions for it.  Hence the chief of these exceptions are as follow: like; (a)

You are a Graduate Legal Officer employed in the Constitutional Policy Unit of the Australian Attorney-General's Department. Until this point, your supervisor, Rodger Dodger, has p

Minimum subscription - Commencement of business: If the minimum subscription was not raised the company can only commence business or exercise borrowing powers if:- a)

Define the subordinate legislation briefly. Subordinate legislation: • Regulations: It directly applicable and self-executing, no require for member state to create own

State the theory of international antitrust A fourth approach is the allocation of jurisdiction over conduct with multijurisdictional effects to one agency by another agency th

Explain the concept of TERRITORY State is the most important subject of international law. It can be defined as a population, living in a definite territory that has government