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
BLAW211 EXAM QUESTIONS WITH 100% CORRECT ANSWERS GRADED A+ $12.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. BLAW211
  4.  
  5. BLAW211

Exam (elaborations)

BLAW211 EXAM QUESTIONS WITH 100% CORRECT ANSWERS GRADED A+

 0 purchase
  • Course
  • BLAW211
  • Institution
  • BLAW211

BLAW211 EXAM QUESTIONS WITH 100% CORRECT ANSWERS GRADED A+ Management of Partnership - Answer-Each partner has a direct and equal voice in management unless expressly agreed otherwise in the partnership agreement no right to renumeration admission requires consent fiduciary duties of partners...

[Show more]

Preview 2 out of 8  pages

Document information

  • October 19, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • BLAW211
  • BLAW211

Seller

avatar-seller
victoryguide

Reviews received

Content preview

BLAW211 EXAM QUESTIONS WITH 100%
CORRECT ANSWERS GRADED A+
Management of Partnership - Answer-Each partner has a direct and equal voice in
management unless expressly agreed otherwise in the partnership agreement
no right to renumeration
admission requires consent

fiduciary duties of partnership - Answer-- full disclosure
-must not make a private profit
-duty may continue after you leave firm

Duration of Liability - Answer-new partner not liable for old debts , vice versa
no effects on third parties

Tort Liability - Answer-a liability for an injury or wrongdoing by one person to another
resulting from a breach of legal duty.

general vs limited partners - Answer-General Partner
A person who assumes full or shared responsibility for operating a business - jointly
severally liable - may or may not invest in the limited partnership


Limited Partner
A person who invests money in a business but has no management responsibility or
responsibility or liability for losses beyond the amount he or she invested in the
partnership

Advantages of Limited Partnership - Answer--Liability of limited partner(s) limited to
investment
-Limited partners do not participate in management, and therefore, this may be
attractive for certain types of ventures - confidential
-Business losses qualify for tax deduction and flow through to partners
-unregistered

Formation of a company - Answer--reserve name
-register
-directors and shareholders sign consent
- certificate of incorporation issues

History of the company in NZ - Answer-companies act 1955
companies act 1993
- originally followed England
-share market crash
-changed to North American model

, Solvency Test - Answer-1) the corp is or would after the payment be able to pay its
liabilities?
2) Balance Sheet: Is the realized value of your assets greater than your liabilities, plus
the stated capital of all your outstanding shares.
Stated Capital - could the company buy back it's shares at the cost of the shares?
protection for shareholders and creditors

Minority shareholders / prejudiced shareholders - Answer-A particular shareholder or
block of shareholders holding a small proportion of a company's outstanding shares,
resulting in a limited ability to exercise control in voting activities.

quasi partnership - Answer-

remedies for shareholders - Answer-- order to acquire shares
- compensation
- regulating future conduct
altering constitution
- receivership
- rectification of records
- liquidation
- setting aside action

what transactions can require a company to buy minority shareholders shares - Answer-
-major transactions
-amalgamation
-certain changes to company constitution
-change in shareholders rights

shareholders buy out rights - Answer-- altering constitution
- entering major transaction
- undertaking amalgamation
- altering the class rights attached to minority shareholders shares

What is it referred to when company has its own rights and liabilities? - Answer-the
corporate veil

limited liability of shareholders : two aspects - Answer-- liability to agreed contributed
capital
- liability for company obligation to outsiders (amounts unpaid on shares, directors can
be liable for breach of duties)

How does a company deal with the outside world? - Answer-through individuals -
directors and employees
- they bind the company if they act with an authority
current corporate capacities - Answer-- full capacity to carry on or undertake any
business or active, to do any act or enter any transaction
- full capacity , rights and privileges
- less descriptive, fewer rules, greater freedom

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 victoryguide. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67479 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$12.99
  • (0)
Add to cart
Added