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Page 16

CHAPTER 2
THE MEMORANDUM OF ASSOCIATION

If a company is formed to carry on a particular kind of business e.g., engineering, and also to acquire a particular business, a subsequent sale of that business does not mean that the substratum has gone, because the company can still carry on a similar business. (19)
Powers.-In addition to the objects strictly so called, the memorandum usually sets out a number of powers which are reasonably conducive to the furtherance of the company's objects. The following are powers frequently given:
1. Power to sell the undertaking of the company for shares iii
another company. (20)
2. Power to take shares in another company. (21)
3. Power to borrow money and to issue bills of exchange.
is implied in the case of a trading company, but an express power removes any difficulty if there is a doubt as to whether the company answers that description.
4. Power to enter into profit sharing agreements with other companies, and to borrow money jointly with other companies.. A general power to borrow does not authorise a joint borrowing. (22)
5. Power to acquire similar businesses.
6. Power to sell or otherwise dispose of any part of the property of the company. (23)
The objects clause usually concludes by giving power " to do all such business and things as may be incidental or conducive to the attainment of the above objects or any of them." This power must be taken with qualifications and only authorises the company to do that which is incidental or conducive to the main object of the company. (24)
A company has power to hold land without any express power in its articles (s. 14).
A company formed to promote art, science, religion or charity not involving the acquisition of gain cannot, without the licence of the Board of Trade, hold more than two acres of land.

19 In re Kitson & Co., Ltd., [1946] 1 All E. R. 435.
20 Mason v. Motor Traction Co., [190511 Ch. 419; and see s. 5.
21 In re Barned's Banking Co. (11867), L. R. 3 Ch. 105.
22 In re Johnston Foreign Patents Co., [1904] 2 Ch. 234.
23 See Kingsbury Collieries and Moore's Contract, [1907] 2 Ch. 259.
24 Per Eve, J., in Evans v. Brunner Mond & Co., [1921] 1 Ch. 359.

travel books:
where is HTML where is HEAD where is TITLE If a company is formed to carry on a particular kind of business e.g., engineering, and also to acquire a particular business, a subsequent sale of that business does not mean that what is substratum has gone, because what is company can still carry on a similar business. (19) Powers.-In addition to what is objects strictly so called, what is memorandum usually sets out a number of powers which are reasonably conducive to what is furtherance of what is company's objects. what is following are powers frequently given: 1. Power to sell what is undertaking of what is company for shares iii another company. (20) 2. Power to take shares in another company. (21) 3. Power to borrow money and to issue bills of exchange. is implied in what is case of a trading company, but an express power removes any difficulty if there is a doubt as to whether what is company answers that description. 4. Power to enter into profit sharing agreements with other companies, and to borrow money jointly with other companies.. A general power to borrow does not authorise a joint borrowing. (22) 5. Power to acquire similar businesses. 6. Power to sell or otherwise dispose of any part of what is property of what is company. (23) what is objects clause usually concludes by giving power " to do all such business and things as may be incidental or conducive to what is attainment of what is above objects or any of them." This power must be taken with qualifications and only authorises what is company to do that which is incidental or conducive to what is main object of what is company. (24) A company has power to hold land without any express power in its articles (s. 14). A company formed to promote art, science, religion or charity not involving what is acquisition of gain cannot, without what is licence of what is Board of Trade, hold more than two acres of land. 19 In re Kitson & Co., Ltd., [1946] 1 All E. R. 435. 20 Mason v. Motor Traction Co., [190511 Ch. 419; and see s. 5. 21 In re Barned's Banking Co. (11867), L. R. 3 Ch. 105. 22 In re Johnston Foreign Patents Co., [1904] 2 Ch. 234. 23 See Kingsbury Collieries and Moore's Contract, [1907] 2 Ch. 259. 24 Per Eve, J., in Evans v. Brunner Mond & Co., [1921] 1 Ch. 359. 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 16 where is strong CHAPTER 2 what is MEMORANDUM OF ASSOCIATION where is p align="justify" If a company is formed to carry on a particular kind of business e.g., engineering, and also to acquire a particular business, a subsequent sale of that business does not mean that what is substratum has gone, because what is company can still carry on a similar business. (19) Powers.-In addition to what is objects strictly so called, what is memorandum usually sets out a number of powers which are reasonably conducive to what is furtherance of what is company's objects. what is following are powers frequently given: 1. Power to sell what is undertaking of what is company for shares iii another company. (20) 2. Power to take shares in another company. (21) 3. Power to borrow money and to issue bills of exchange. is implied in what is case of a trading company, but an express power removes any difficulty if there is a doubt as to whether what is company answers that description. 4. Power to enter into profit sharing agreements with other companies, and to borrow money jointly with other companies.. A general power to borrow does not authorise a joint borrowing. (22) 5. Power to acquire similar businesses. 6. Power to sell or otherwise dispose of any part of what is property of what is company. (23) what is objects clause usually concludes by giving power " to do all such business and things as may be incidental or conducive to what is attainment of what is above objects or any of them." This power must be taken with qualifications and only authorises what is company to do that which is incidental or conducive to what is main object of what is company. (24) A company has power to hold land without any express power in its articles (s. 14). A company formed to promote art, science, religion or charity not involving what is acquisition of gain cannot, without what is licence of what is Board of Trade, hold more than two acres of land. 19 In re Kitson & Co., Ltd., [1946] 1 All E. R. 435. 20 Mason v. Motor Traction Co., [190511 Ch. 419; and see s. 5. 21 In re Barned's Banking Co. (11867), L. R. 3 Ch. 105. 22 In re Johnston Foreign Patents Co., [1904] 2 Ch. 234. 23 See Kingsbury Collieries and Moore's Contract, [1907] 2 Ch. 259. 24 Per Eve, J., in Evans v. Brunner Mond & Co., [1921] 1 Ch. 359. where is Server.Execute("_SiteMap.asp") %

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