Books > Old Books > Poetry Northwest (1959)


Page 5

CHAPTER 1
THE GENERAL NATURE OF A COMPANY

is not that of a person who has lent money to the company or has deposited his money as with a bank or a building society, it is that of the owner of property, namely, his shares, which can only be turned into money if.a buyer can be found to pay for them. Shares are of two kinds, fully paid shares and partly paid shares. When the shares are only partly paid the shareholder can be compelled to pay them up fully if called upon by the company or, if the company is being wound up, by the liquidator.
As companies are usually formed to carry on business, capital is necessary. This is provided by the shareholders. The amount of the capital must be registered with the Registrar of Companies, and it is the policy of the Companies Act to see that the capital is preserved intact, except for losses in the way of business, so that it may be available to satisfy the company's creditors. Accordingly, while the company is a going concern no part of the paid-up capital may be returned, either directly or indirectly, by the company to its shareholders.
Shares in companies are extensively bought as an investment by people who want to derive an income from their capital, but who are unable, for reasons of business, age, health, or opportunity, to take any part in the management of the company. To protect investors from dishonest or incompetent people who form companies in which the investors are likely to lose their money, disclosure of such things as the company's past financial record, the profits of the promotors of the company and the benefits of being a director, are required in the prospectus or other document on the strength of which the public are invited to buy shares in the company. Provision is also made for the company's accounts to be audited every year by auditors appointed by the shareholders and for the circulation to every shareholder of an annual balance sheet certified by the auditors.
A company may become insolvent, or, for other reasons, may decide to retire from business. In such a case it is said to go into liquidation and a person, called a liquidator, is appointed to wind up its affairs. He sells the company's property, pays as much of its debts as he can do out of the proceeds of sale and then, if there is a surplus, he distributes it among the shareholders. When the liquidation is completed the company has come to an end ancd ceases to exist.

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where is HTML where is HEAD where is TITLE is not that of a person who has lent money to what is company or has deposited his money as with a bank or a building society, it is that of what is owner of property, namely, his shares, which can only be turned into money if.a buyer can be found to pay for them. Shares are of two kinds, fully paid shares and partly paid shares. When what is shares are only partly paid what is shareholder can be compelled to pay them up fully if called upon by what is company or, if what is company is being wound up, by what is liquidator. As companies are usually formed to carry on business, capital is necessary. This is provided by what is shareholders. what is amount of what is capital must be registered with what is Registrar of Companies, and it is what is policy of what is Companies Act to see that what is capital is preserved intact, except for losses in what is way of business, so that it may be available to satisfy what is company's creditors. Accordingly, while what is company is a going concern no part of what is paid-up capital may be returned, either directly or indirectly, by what is company to its shareholders. Shares in companies are extensively bought as an investment by people who want to derive an income from their capital, but who are unable, for reasons of business, age, health, or opportunity, to take any part in what is management of what is company. To protect investors from dishonest or incompetent people who form companies in which what is investors are likely to lose their money, disclosure of such things as what is company's past financial record, what is profits of what is promotors of what is company and what is benefits of being a director, are required in what is prospectus or other document on what is strength of which what is public are invited to buy shares in what is company. Provision is also made for what is company's accounts to be audited every year by auditors appointed by what is shareholders and for what is circulation to every shareholder of an annual balance sheet certified by what is auditors. A company may become insolvent, or, for other reasons, may decide to retire from business. In such a case it is said to go into liquidation and a person, called a liquidator, is appointed to wind up its affairs. He sells what is company's property, pays as much of its debts as he can do out of what is proceeds of sale and then, if there is a surplus, he distributes it among what is shareholders. When what is liquidation is completed what is company has come to an end ancd ceases to exist. 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 5 where is strong CHAPTER 1 what is GENERAL NATURE OF A COMPANY where is p align="justify" is not that of a person who has lent money to what is company or has deposited his money as with a bank or a building society, it is that of what is owner of property, namely, his shares, which can only be turned into money if.a buyer can be found to pay for them. Shares are of two kinds, fully paid shares and partly paid shares. When what is shares are only partly paid what is shareholder can be compelled to pay them up fully if called upon by what is company or, if what is company is being wound up, by what is liquidator. As companies are usually formed to carry on business, capital is necessary. This is provided by what is shareholders. what is amount of what is capital must be registered with what is Registrar of Companies, and it is what is policy of what is Companies Act to see that what is capital is preserved intact, except for losses in what is way of business, so that it may be available to satisfy what is company's creditors. Accordingly, while what is company is a going concern no part of what is paid-up capital may be returned, either directly or indirectly, by what is company to its shareholders. Shares in companies are extensively bought as an investment by people who want to derive an income from their capital, but who are unable, for reasons of business, age, health, or opportunity, to take any part in what is management of what is company. To protect investors from dishonest or incompetent people who form companies in which what is investors are likely to lose their money, disclosure of such things as what is company's past financial record, what is profits of what is promotors of what is company and what is benefits of being a director, are required in what is prospectus or other document on what is strength of which what is public are invited to buy shares in what is company. Provision is also made for what is company's accounts to be audited every year by auditors appointed by what is shareholders and for what is circulation to every shareholder of an annual balance sheet certified by what is auditors. A company may become insolvent, or, for other reasons, may decide to retire from business. In such a case it is said to go into liquidation and a person, called a liquidator, is appointed to wind up its affairs. He sells what is company's property, pays as much of its debts as he can do out of what is proceeds of sale and then, if there is a surplus, he distributes it among what is shareholders. When what is liquidation is completed what is company has come to an end ancd ceases to exist. where is Server.Execute("_SiteMap.asp") %

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