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Question
Complete the sentence.
The document which is subordinate to the Memorandum of Association is called _________
Solution
The document which is subordinate to the Memorandum of Association is called Article of association.
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RELATED QUESTIONS
Select the correct answer from the option given below and rewrite the sentence.
Any act done by the company beyond the powers of Memorandum is called as _______.
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_________ acts are void or legally ineffective.
Select the correct answer from the option given below and rewrite the sentence.
_______ is an incomplete prospectus.
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Document which contains rules and regulations for internal management.
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Clause which describes the main activities a company can undertake.
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Clause which describes the extent of liability of members.
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Document which establishes relationship between a company and its members.
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Prospectus attached with every share application form.
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It is an incomplete prospectus.
State whether the following statement is True or False:
Articles of Association can have provisions that contradict the Memorandum.
State whether the following statement is True or False:
Memorandum need not have a Liability Clause.
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Memorandum contains rules and regulations for the internal management of a company.
Find the odd one.
Find the odd one.
Complete the sentence.
Any act done by the company which goes beyond the powers of Memorandum of Association will be calledas _________
Study the following case/situation and express your opinion:
The Articles of a company stated that while borrowing any money from outsiders. The document must have the signatures of the Managing Director (MD) and any one of the directors. The Articles of Association clearly stated the procedure to be followed while borrowing money. The Managing Director did not follow all the procedures but still borrowed money from Mr. X. Mr. X assumed that the MD has followed the required procedures:
(a) Can the MD be held punishable for his act?
(b) Under which Doctrine can Mr. X take action against the company?
(c) Explain the Doctrine.
Study the following case/situation and express your opinion:
The object clause of Memorandum of a company stated the main object as the manufacturing of plastic chairs and tables and any other activity in furtherance of achievement of its main activity. The Board of Directors wants to now also produce TV. Serials and feels that the shareholders may give their permission.
a) Can the company with immediate effect start producing TV? Serials? Why?
b) How can the object clause of the company be altered?
Study the following case/situation and express your opinion:
A Company plans to offer Rights Issue.
a) Which document must it send to its shareholders for offering the Rights Issue?
b) Instead of Rights Issue, if the company wants to issue shares to the public, which document must it issue for inviting the public to subscribe for it?
c) Name the document which is called as incomplete prospectus.
