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Page 4

CHAPTER 1
THE GENERAL NATURE OF A COMPANY

a statement in the form of a balance sheet in the annual return to the Registrar of Companies." The Companies Act,.1929, required a balance sheet and profit and loss account to be laid before the company every year, while the present Act sets out in great detail the contents of these accounts, with stringent provisions for their audit. It also for the first time requires the auditor to have a professional qualification.

WHAT IS A COMPANY ?
A company is regarded by the law as a person, just as a human being, Mr. Smith, or Mr. Jones, is a person. It can own property, have a banking account in its own name, owe money to others and be a creditor of other people and other companies, and employ people to work for it. The company's money and property belongs to the company and not to the shareholders or the directors, and similarly the company's debts are the debts of the company alone and the shareholders cannot be compelled to pay them. A company, of course, oan only act through human agents, and those who control its policy and are responsible for its business activities are called directors. But even the directors, whatever powers they may have given to them by the company, are only the servants or officers of the company and can only manage the company's affairs in accordance with the company's directions and the provisions of the Companies Act. Unless this conception of a company as a person separate and distinct from the other persons who are its shareholders and directors is clearly understood at the beginning, it will be impossible to learn company law.
A company must have members, otherwise it would never exist at all, and these members are called shareholders. The shareholder's position with regard to the company itself and to his fellow shareholders is regulated by the Companies Act and by a number of rules known as the memorandum and the articles of association. These rules vary considerably among different companies, but in every case the shareholder's position is that of the owner of one or more shares in the company. His shares are something which he has bought and paid for-perhaps from the company or perhaps from somebody elseand something which he can sell or give away, either in his lifetime or by his will. He cannot, however, get his money back from the company, so long as the company is in existence, because his position

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where is HTML where is HEAD where is TITLE a statement in what is form of a balance sheet in what is annual return to what is Registrar of Companies." what is Companies Act,.1929, required a balance sheet and profit and loss account to be laid before what is company every year, while what is present Act sets out in great detail what is contents of these accounts, with stringent provisions for their audit. It also for what is first time requires what is auditor to have a professional qualification. WHAT IS A COMPANY ? A company is regarded by what is law as a person, just as a human being, Mr. Smith, or Mr. Jones, is a person. It can own property, have a banking account in its own name, owe money to others and be a creditor of other people and other companies, and employ people to work for it. what is company's money and property belongs to what is company and not to what is shareholders or what is directors, and similarly what is company's debts are what is debts of what is company alone and what is shareholders cannot be compelled to pay them. A company, of course, oan only act through human agents, and those who control its policy and are responsible for its business activities are called directors. But even what is directors, whatever powers they may have given to them by what is company, are only what is servants or officers of what is company and can only manage what is company's affairs in accordance with what is company's directions and what is provisions of what is Companies Act. Unless this conception of a company as a person separate and distinct from what is other persons who are its shareholders and directors is clearly understood at what is beginning, it will be impossible to learn company law. A company must have members, otherwise it would never exist at all, and these members are called shareholders. what is shareholder's position with regard to what is company itself and to his fellow shareholders is regulated by what is Companies Act and by a number of rules known as what is memorandum and what is articles of association. These rules vary considerably among different companies, but in every case what is shareholder's position is that of what is owner of one or more shares in what is company. His shares are something which he has bought and paid for-perhaps from what is company or perhaps from somebody elseand something which he can sell or give away, either in his lifetime or by his will. He cannot, however, get his money back from what is company, so long as what is company is in existence, because his position where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 4 where is strong CHAPTER 1 what is GENERAL NATURE OF A COMPANY where is p align="justify" a statement in what is form of a balance sheet in what is annual return to what is Registrar of Companies." what is Companies Act,.1929, required a balance sheet and profit and loss account to be laid before what is company every year, while what is present Act sets out in great detail what is contents of these accounts, with stringent provisions for their audit. It also for what is first time requires what is auditor to have a professional qualification. WHAT IS A COMPANY ? A company is regarded by what is law as a person, just as a human being, Mr. Smith, or Mr. Jones, is a person. It can own property, have a banking account in its own name, owe money to others and be a creditor of other people and other companies, and employ people to work for it. what is company's money and property belongs to what is company and not to what is shareholders or what is directors, and similarly what is company's debts are what is debts of what is company alone and what is shareholders cannot be compelled to pay them. A company, of course, oan only act through human agents, and those who control its policy and are responsible for its business activities are called directors. But even what is directors, whatever powers they may have given to them by what is company, are only what is servants or officers of what is company and can only manage what is company's affairs in accordance with what is company's directions and what is provisions of what is Companies Act. Unless this conception of a company as a person separate and distinct from what is other persons who are its shareholders and directors is clearly understood at what is beginning, it will be impossible to learn company law. A company must have members, otherwise it would never exist at all, and these members are called shareholders. what is shareholder's position with regard to what is company itself and to his fellow shareholders is regulated by what is Companies Act and by a number of rules known as what is memorandum and what is articles of association. These rules vary considerably among different companies, but in every case what is shareholder's position is that of what is owner of one or more shares in what is company. His shares are something which he has bought and paid for-perhaps from what is company or perhaps from somebody elseand something which he can sell or give away, either in his lifetime or by his will. He cannot, however, get his money back from what is company, so long as what is company is in existence, because his position where is Server.Execute("_SiteMap.asp") %

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