Briefly explain the liability of: (a) A director of a private limited liability company. (b) A partner of a partnership. (c) A sole trader. (d) A private limited company.
Q: Pursuant to Ind. Code § 23-1-21-2(b)(2)(A), the incorporators can, if they decide to do so, specify…
A: Note: The solution is provided in a generalized way.Articles of incorporation are a significant…
Q: Corporate structures include all of the following except
A: Corporate structure describes how several divisions or business units are set up within a firm. A…
Q: EXPLAIN HOW THE BOARD OF DIRECTORS MUST ENSURE THAT GOOD CORPORATE GOVERNANCE IS PRACTICED BY THE…
A: The board of directors is a group of executives who oversees organizational activities. They…
Q: Proposed company (closed company or company who filed bankruptcy) not aquired and nor merge and give…
A: When an organization is unable to honor its financial obligations or make payment to its creditors,…
Q: Matthew Mark and Luke, three auto mechanics, were delighted to start an auto repair business and…
A: In the scenario presented, Matthew, Mark, and Luke, three auto mechanics, have established a private…
Q: Partnerships and most LLCs are known as pass-through entities. What does this mean for their…
A: Limited liability companies (LLCs) are going through substances naturally. Except if the proprietors…
Q: mention the main responsibilities of the board of directors illustrating degree of involvement of…
A: The board of directors are considered to be the representatives of the share holders who are the…
Q: State the advantages of limited-liability company (LLC).
A: A liability Company (LLC) could be a kind of business organization that consolidates the overall…
Q: 1. Corporations and their unique characteristics True or False: If a corporation is unable to repay…
A: If a corporation is unable to repay its debts, the creditors to whom the debt is owed may sue an…
Q: Which type of business allows share limit to 100 shares maximum. a. Partnership. b. S Corporations…
A: A partnership firm is a business owned by a minimum of two individuals. In a partnership business,…
Q: 11) Which of the following articles of incorporation items is found in the Model Business…
A: The Model Business Corporation Act was developed by the American Bar Association to provide the base…
Q: .Discuss the rights and liabilities of a retiring partner ?
A: A partnership is a type of business structure in which two or more people share ownership of a…
Q: Explain in details why Directors have a duty of loyalty to the company and must avoid conflicts of…
A: A system of rules, practises, and processes that governs how an organisation is directed,…
Q: Which of the following items is NOT to be placed in the articles of organization of a limited…
A: In соrроrаte gоvernаnсe, а соmраny's аrtiсles оf аssосiаtiоn is а dосument whiсh, аlоng…
Q: A year ago, Chris joined with other investors to open a restaurant, Honest Ozzie's Delicatessen. The…
A: A partnership is a business organization in which two or more people share ownership and operate the…
Q: Outline the duties, responsibilities of Directors, Shareholders and Secretary
A: Companies are run by a group of people who work together to ensure that the organization is…
Q: Which of the following statement describe a sole proprietorship? a. Owner in sole proprietorship has…
A: A sole proprietorship additionally alluded to as a sole broker or a proprietorship, is a…
Q: 1. Which of the following is an advantage of partnerships? a. Each partner has limited…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: A limited partnership a. comes into existence when a certificate of partnership is filed b. always…
A: A limited partnership is a form of partnership that is similar to a general partnership except that…
Q: describing the obligations of corporate directors to a business corporation. include a discussion of…
A: Corporate directors oversee the affairs of the corporation in order to protect the interest of the…
Q: process of converting
A: There are various strategies through which one can change the existing type of organization. it…
Q: Identify the type of director: 1. Tammy was a Member of the CC and when the conversion occurred,…
A: Directors play a critical role in the governance and management of a company. They are responsible…
Q: Required Explain briefly the reasons for the development of corporate governance-type guidelines…
A: Companies are increasingly engaging in corporate governance for the long-term goals of…
Q: What is the effect of a merger agreement consummated in violation of the requirements on mandatory…
A: Mergers and acquisitions have become commonplace in the business world, helping organisations to…
Q: Wite true if the statement is correct and write false il hat Al lporaters are subscribers but…
A: The incorporator will issue a transfer of subscription document for the one share for which he has…
Q: Mr. Salim and Mr. Nassir started a limited partnership business. Both agreed that Mr. Salim will be…
A: Partners are the people who come together in order to incorporate a business organization. These…
Q: Discuss the powers and duties of Directors and Company Secretary
A: Directors and company secretaries play crucial roles in the governance and management of a company.…
Q: Define public limited liability business with appropriate examples. Briefly explain three main…
A: There are different types of limited liability companies. These are as follows: 1) limited liability…
Q: In a general partnership, which of the following acts must be approved by all the partners? a.…
A: A partnership can be defined as a business in which more than one person is involved and they…
Q: Explain to William and Oliver what steps they need to take to successfully incorporate their company…
A: William and Oliver, incorporating a company involves several steps to ensure a smooth and legally…
Q: During the pre-incorporation stage, the acting treasurer will make a sworn statement which is part…
A: The incorporation of an organization alludes to the lawful cycle that is utilized to frame a…
Q: Which of the business structures (Corporation,Partnership,sole Proprietor) has limited liability…
A: 1.Which of the business structures (Corporation,Partnership,sole Proprietor) has limited liability…
Q: Identify five reasons why a partnership may be dissolved.
A: A partnership is a type of business structure in which two or more people or entities come together…
Q: When a new corporation is formed to acquire two or more other corporations through an exchange of…
A: A Merger refers to the combination of one or more business entities into a single business entity in…
Q: One of the two directors of a private company died in a car accident. Discuss whether the board of…
A: According to the provisions of the Companies Act, 2016, specifically Section 9(d), Section 196, and…
Briefly explain the liability of:
(a) A director of a private limited liability company.
(b) A partner of a
(c) A sole trader.
(d) A private limited company.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps