A school of thought is of the view that a limited liability company is said to be best in respect of setting up a business, others are of the opinion that a limited liability just shifts the burden of the failure of business to a non-existent person called a company and its creditors. a) with the aid of the Company’s Act 1960, Act 179 and decided cases, discuss what is termed as a limited Liability Company b) According to case law and statute, at what time is a company liable for acts committed by its directors. c) Discuss the Mechanics of Incorporation d) Explain the Ultra Vires Principle
A school of thought is of the view that a limited liability company is said to be best in respect of setting up a business, others are of the opinion that a limited liability just shifts the burden of the failure of business to a non-existent person called a company and its creditors. a) with the aid of the Company’s Act 1960, Act 179 and decided cases, discuss what is termed as a limited Liability Company b) According to case law and statute, at what time is a company liable for acts committed by its directors. c) Discuss the Mechanics of Incorporation d) Explain the Ultra Vires Principle
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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A school of thought is of the view that a limited liability company is said to be best in respect
of setting up a business, others are of the opinion that a limited liability just shifts the burden
of the failure of business to a non-existent person called a company and its creditors.
a) with the aid of the Company’s Act 1960, Act 179 and decided cases, discuss what is termed
as a limited Liability Company
b) According to case law and statute, at what time is a company liable for acts committed by
its directors.
c) Discuss the Mechanics of Incorporation
d) Explain the Ultra Vires Principle
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