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Assignment on Corporate Law (pdf)

   

Added on  2021-04-17

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Corporations LawRunning Head: CORPORATIONS LAW0Student’s Name
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CORPORATIONS LAW1ContentsIntroduction......................................................................................................................................2Legal basis of the statement “Companies are said to be an artificial legal person.”.......................2Salomon v A Salomon And Co Ltd [1897] AC 22..........................................................................3The future of company law..............................................................................................................3Changes that are necessary in the Current Law...............................................................................4Conclusion.......................................................................................................................................4
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CORPORATIONS LAW2IntroductionCorporations are one of the kinds of Business structures. Alike the Sole Proprietorship Concern,two or more persons are involved in a corporation. This is necessary to know that two kinds ofbodies are there in a company. One is the body of directors and another is shareholders. Wheredirectors are the part of management, shareholders present the ownership. In order to provide ameaning or a definition of a corporation, this can be stated “A Corporation is the legalassociation of people that have separated identity from it is owners (CliffsNotes, 2018). Acorporation has several characteristics that make the same different from other businessstructures.Legal basis of the statement “Companies are said to be an artificial legalperson.”Corporations are not a natural person. It is a form of business venture that gets creates anddeveloped by the group of certain people that are known as promoters and directors.Corporations come into existence by the virtue of applicable law. Further, it is to say that a istermed as a legal person because a corporation can do all the acts and deeds similar to a legalperson. Following are the acts that a corporation can do by it is own name:-1.Creation of a Contract (Stim, 2016).2.Purchasing and selling of Assets.3.Entering into business transactions4.Filing of Suits
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