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Whether the company which is taking over would be liable to fulfill all obligations of the company which has been taken over?
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What are 2 benefits of converting from a partnership to private limited company?
The formation of a limited company makes the company an entity in its own right with its own liabilities. If you are a partnership and the company goes bust you and your partner are personally liable for any monies owed. If the company is Limited then it is limited to paying the investment into the company and its assets to its creditors should the company fail.
When does a company become a limited company?
Limited company refers to a company whose liabilities are limited to the number shares of shareholders. During the time of winding up the business shareholders are liable to pay only the remaining amount that has to be paid as shares. If a shareholder had already paid full amount of his shares for him there is no need to pay any money.Limited company is different from limited liability company.
How liable should companies be for violent acts committed during work by their employees?
Companies should be completely liable for violent acts committed during work by their own employees. Workplace violence is the third leading cause of occupational death and growing type of homicide in the United States. Companies have legal obligation and financial incentive to prevent it because the company can be held liable either directly or vicariously for the violent acts committed by its employees against other employees and even injuries suffered by their employees as a result of violent acts. Companies are held liable when: Negligent hiring of employees, negligent retention and/or inadequate safeguards to provide a "safe and healthful workplace". Company behaves negligently towards workplace violence and thereby permits such violent acts to occur. This is also referred to as direct liability. Company is not directly responsible for the violence and whose conduct was not negligent towards the act but as the employee who caused misconduct belonged to that company, the company is held responsible for it too.
What are the aims and objectives of a public limited company?
A public limited company is set up to make a company a legal person and therefore making the company liable for any loss or bankruptcy. i.e. if it goes bankrupt only the company will be chased and not those who run it. A p.l.c. issues shares which are units of ownership and these are open for the general public. Each 3/4/5 years a board of directors is elected during the AGM - Annual General Meeting. the biggest disadvantage of a p.l.c. is that if the company goes bankrupt all the shareholders will lose their money which they invested.
What are the advantages and disadvantages of a partnership businesses?
Some advantages of a partnership business is that the gains and losses are shared, you share the resposibilities, and it's easy to set up. But some disadvantages to a partnership business is that each partner is 'jointly and severally' liable for the partnership's debts; that is, each partner is liable for their share of the partnership debts as well as being liable for all the debts, there is a risk of disagreements and friction among partners and management, and each partner is an agent of the partnership and is liable for actions by other partners
What is the role of a principal?
As the head of a school or other educational organisation, he/she is the person of first importance to direct the events, actions or organisation of the establishment. The person primarily liable to fulfill the obligations of an educational institution
Is the estate liable for the debt on a surviorship deed?
The estate is liable for the obligations of the deceased. They would have to settle the debts.
What do you mean by corporate veil?
A legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company's debts and other obligations. This protection is not ironclad or impenetrable. Where a court determines that a company's business was not conducted in accordance with the provisions of corporate legislation (or that it was just a facade for illegal activities) it may hold the shareholders personally liable for the company's obligations under the legal concept of lifting the corporate veil.
What are the issue in salomon v salomon coltd?
whether Mr Salomon liable for the debt of the company
Who is liable for a surety bond claim?
The party that is liable for a surety bond claim depends on the specific terms and conditions of the bond. Generally, the principal, who is the party that purchased the surety bond, is initially liable for any claims made against the bond. However, if the principal fails to fulfill their obligations, the surety company may step in and become liable for the claim.
Your company is considering whether or not to sue a supplier of faulty goods there's precedent on similar facts the supplier was held liable explain the extent to which reliance may be placed upon?
Answering "Your company is considering whether or not to sue a supplier of faulty goods there's precedent on similar facts the supplier was held liable explain the extent to which reliance may be placed upon?"
What is INCS?
incorporatedINC stand for Incorporated.This means a company is legally in business and their are specific stipulations in regards to protection of the owners,CEO and or board members. In a corporation, stockholders, directors and officers typically are not liable for their company's debts and obligations. They are limited in liability to the amount they have invested in the corporation.
What is the effect of instant messaging on organizational networks?
Anything done on an organizational network is subject to surveillance and the company is held liable, whether it is a personal chat or not.
What insurance company is liable if a pedestrain is hit by a car?
The driver who hit the pedestrian is liable, not their insurance company. The drivers insurance company will normally be responsible for payment of valid claims up to the policy limits for which the their insured driver is found liable.
Should a company be liable if an unauthorized employee signed a contract under the company?
No , if an employee has committed fraud and signed a contract under the company knowingly unauthorized then the company may not held liable.
What the meaning of liability?
The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law., That which one is under obligation to pay, or for which one is liable., the sum of one's pecuniary obligations; -- opposed to assets.
What does LTD mean after a company name?
LTD stands for "Limited." It is a legal designation used after a company name in countries such as the UK, Canada, and Australia. It indicates that the company has limited liability, meaning that the owners or shareholders are not personally liable for the company's debts or obligations.
