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In other words a company has as many rights and responsibilities that a genuine person would have, apart from one exception this being those created by the Registrar Of Companies.
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AC1000 Tues 2 - 5 1) "A Limited Company is an artificial legal person" P, Atrill, & E, Mclaney, Accounting and Finance for Non- specialists, Third Edition, p85. In other words a company has as many rights and responsibilities that a genuine person would have, apart from one exception this being those created by the Registrar Of Companies. There are two types of company there is the private company and the public company. A Public Company (PLC) is defined as " one whose memorandum states that the company is a public company, and has registered as such" F, Wood, Business Accounting, Fifth Edition, P355. It must have a minimum of two members, and there is no limit to how many can join, and the company must have an authorised capital, which is normally at least £50,000. A Private Company (Ltd) may be formed by two or more people, a family or a small group...
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