StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - Business and Corporate Law

Only on StudentShare
Pages 6 (1506 words)
There is no provision in the Companies Act 2006 that specifically prohibits the issues of shares by a private company for non-cash consideration of rent payable. Section 580 generally prohibits the issue of shares at a discount only. According to the Companies House payment for shares can be made in a variety of ways including cash, goods, services, property, goodwill, or know-how…

Extract of sample

Companies Act 2006 has codified the duties of directors and has included these duties in the relevant sections. While Section 170 lays down the scope and nature of general duties Sections 171 to 177 and section 182 lays down the specific duties of the directors. The duties covered under these sections are made to replace the common law rules and equitable principles on which the duties of directors are based earlier. Section 170 also provides that these general duties "shallbe interpreted and applied in the same way as common law rules or equitable principles, and regard shall be had to the corresponding common law rules and equitable principles in interpreting and applying the general duties". 2
Under section 171 the directors have a duty to act within the statutory powers granted to them. This duty must be exercised in accordance with the constitution of the company and the powers must be exercised for proper purposes. For the purpose of general duties the Companies Act 2006 has defined the constitution to include the Articles of the company and decision taken in accordance with the Articles will be construed as taken within the constitution of the company. ...
Download paper
Not exactly what you need?

Related papers

Law for Managers- Lifting the Corporate Veil
This essay talks about an association of persons or an organised body can acquire legal personality in the few ways that are recognised by the law. There are mainly three ways in which this can be effected and these are: by way of separate Act, general enabling Act or by conduct. Legal personality can be acquired by virtue of separate Act obtaining within a particular legal framework of a given…
11 pages (2761 words)
Business Ethics: Individual Themed Essay (ITE) "Corporate Social Responsibility:Corporations can never be moral entities"
Other than this, the interest of the shareholders and stakeholders also need to be followed so as to improve the reputation and brand image of the organization in a market among others (Parker & Pearson, 2005). Not only this, if the business operations are maintained and controlled in an ethical way, only then its rate of sustainability might increase in the market. Side by side, its range of…
6 pages (1506 words)
Corporate law Essay
On another level, given the absence of political control today, corporations serve to destroy the foundations of the civic community and the lives of people who reside in them.…
8 pages (2008 words)
Business and Corporate Law
In this assignment the business, which has been trading successfully as a partnership for many years, has decided to become a private company limited by shares. As such, they will be incorporated and registered under the Companies Acts, the main one of which is the Companies Act 1985. Under this act, the company must have a registered office1, which Lorraine and Brenda wish to have at Chancery…
14 pages (3514 words)
Corporate law Master Essay
To de Tocqueville, that is a burden of democracy. Limitless influence is dangerous because utter control is the origin of oppression. If a people are mistreated, the only place to turn is the majority.…
6 pages (1506 words)
Corporate law Master Case Study
Thus, from all appearances the corporation is indeed a close one.…
8 pages (2008 words)