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Owning of Property:
Under Act of a registered company, as a person, has power to own movable and immovable property. It can actually do so if it can afford to buy them, or receives them as a gift. But it is important to note that, legally, the company's property does not belong to the members, either individually or as a group. It belongs to the company alone. This rule has been explained by the English courts in numerous cases among which may be referred to as an example. It was also explained in A L Underwood Ltd v Bank of Liverpool (5) that a company's money is not members' money. Any member who uses the company's money to purchase personal items or discharge personal obligations will be liable to the company for conversion. This rule applies irrespective of whether the company is of a class popularly referred to as 'a one-man company'
Contingent and prospective liabilities of the company: A creditor who petitions on grounds of the company's insolvency may rely on any of the following situations to show (as
Consistent with the written Law However Islamic law is the law based on the Holy Koran and the teachings of the Prophet Mohammed as defined in his Sayings called "Hadith".
Determine the expansionary monetary policy The possible spillover effects associated with expansionary monetary policy. In particular with fixed exchange rates expansionary mon
Power to dispense with the word "Limited": Although s.5 provides that the last word of the name of a limited company must be "limited" this would n
You are the HR manager of a large manufacturing company which employs both unionized and non-unionized employees. You have a non-unionized employee, Edith, who has worked for the c
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Leon, a bank vice president, joined Fitness Center, Inc. (FC). He signed a contract stating, among other things, an exculpatory clause that FC
In the paper Action against Fraudulent Phoenix Activity: Proposals Paper, Treasury made a range of recommendations to amend director's liability provisions and taxation law. Rec
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