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Question
Write a word or a term or a phrase which can substitute the following statement:
Document which establishes relationship between a company and its members.
Solution
Article of association
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RELATED QUESTIONS
Select the correct answer from the option given below and rewrite the sentence.
_______describes the relationship between company and outsiders.
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 _______.
Select the correct answer from the option given below and rewrite the sentence.
Articles establishes relationship between company and ________.
Select the correct answer from the option given below and rewrite the sentence.
For making multiple issues of shares within a year, a company can prepare a ________ Prospectus.
Write a word or a term or a phrase that can substitute the following statement:
The document is subordinate to the Memorandum of Association.
Write a word or a term or a phrase which can substitute the following statement:
Document which contains rules and regulations for internal management.
Write a word or a term or a phrase which can substitute the following statement:
Clause which describes the extent of liability of members.
Write a word or a term or a phrase which can substitute the following statement:
Prospectus used for multiple issue of shares within a year.
State whether the following statement is True or False:
Memorandum establishes the relationship between the Company and Members.
State whether the following statement is True or False:
Memorandum need not have a Liability Clause.
State whether the following statement is True or False:
Every subscriber who signs the Memorandum must also sign the Articles.
State whether the following statement is True or False:
Entrenched Articles cannot be easily altered.
Select the correct option from the given options:
| Group A | Group B |
| ___________ | Memorandum of association. |
Arrange in proper order.
a) Subscription clause.
b) Name clause.
c) Object clause.
Explain the following term/concept.
Liability clauses
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 stated in its prospectus that it has been making profits since the last 5 years. However, Mr. X. an investor found out that two years back the company had not made any profit. The prospectus was filed with the ROC on 1 st Jan 2017 and was issued to the public on 10th Feb 2018.
a) Can Mr. X state that there was a misstatement in the prospectus?
b) If found guilty which two types of liability will the company and its officers face?
c) Can the prospectus be valid for issue to the public on 10th Feb 2018?
Justify the following statement.
The doctrine of Indoor Management protects outsiders who are unaware of the correctness of internal proceedings of a company.
