100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Practice Questions and Answers Company Law and Corporate Governance (LAW5017) $7.19
Add to cart
Quickly navigate to
Preview
  2.  
  3. St Marys University College Twickenham
  4.  
  5. Company Law and Corporate Governance (LAW5017)

Class notes

Practice Questions and Answers Company Law and Corporate Governance (LAW5017)

 13 views  0 purchase
  • Course
  • Company Law and Corporate Governance (LAW5017)
  • Institution
  • St Marys University College Twickenham

Questions and answers on business organisations ( company law and corporate governance). These questions help give a better understanding of what the roles of business organisations are and how they differ from each other.

Preview 1 out of 3  pages

Document information

  • November 14, 2022
  • 3
  • 2022/2023
  • Class notes
  • Nabil rafiq
  • Lecture 1

Subjects

  • business organisations
  • questions
  • answers
  • question and answers
  • practice questions
  • company law
  • company law exam
  • llp
  • slp
  • limited liability
  • unlimited liability
  • sole trader
  • case
  • separate legal personality

Written for

  • St Marys University College Twickenham
  • Unknown
  • Company Law and Corporate Governance (LAW5017)
All documents for this subject (2)

Seller

avatar-seller
2111955

Content preview

Topic Questions (Business Organisations)

A. Short Questions

1) What are the key features of a sole trader?

-one person business
-unlimited liability
-usually smaller businesses (estate agency, restaurant, take-away)
-unincorporated

2) What are the key features of a partnership?

-unincorporated
-unlimited liability
-easy to set up
-minimum 2 people for a partnership to exist
-maximum used to be 20 but now, since 2002, it is unlimited (i.e. a law firm
with many employees)

3) How does a company differ from a partnership?

In a partnership, the assets of the firm are owned directly by the partners
whereas in a company the assets of the company are not owned by the
shareholders

4) What is meant by ‘limited liability?

Limited liability is a form of legal protection for owners and shareholders that
prevents them from being held responsible for their company’s debts or
financial losses.

5) Distinguish between a sole trader and a partnership.

A sole trader is someone that runs a business on their own and therefore has
unlimited liability. A partnership is when 2 or more people join in business,
therefore sharing equal liability when one partner commits a negligent act

6) What is the ‘Third Sector’?

Third sector organisations is a term used to describe a range of organisations
that are neither public sector nor private sector. It includes voluntary
organisations. community organisations. registered charities.

7) Why do you think a person would prefer to form a company as opposed to a
partnership or sole trader?

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller 2111955. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.19. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

57413 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.19
  • (0)
Add to cart
Added