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Companies under the Companies Act
Member rating: No Rating | Words: | Submitted: Mon Dec 11 2006
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LAW ESSAY Part A James wants to change his business into a company; James will receive many benefits if he chooses to take this option. I am going to talk about the main advantages of changing his business into a company which includes the limited liability that James will be entitled to. A company is a business organisation that is registered under the Companies Act 19651, this legislation means that the organisation created is subject to different rules. If James incorporates his business into a company it will have two legal effects. The two legal effects are; the company becomes a separate entity or a legal person and secondly the company has perpetual succession which means the company will last until it is liquidated by an order of court. The law treats the persons who own and control the company as separate from the company itself. A company is an artificial person as...
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