Company law lecture notes

  • How a company is formed?

    Formation of a company is a complex activity involving completion of legal formalities and procedures.
    To fully understand the process one can divide the formalities into three distinct stages, which are: (i) Promotion; (ii) Incorporation and (iii) Subscription of capital..

  • What are the articles of a company law?

    Articles of Association are rules that govern the company, and which shareholders and directors have agreed on.
    The articles outline the managerial and administrative structure and responsibilities of the business and include information on the rights of shareholders..

  • What is the meaning of company in company law notes?

    A company is a legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.
    A company may be organized in various ways for tax and financial liability purposes depending on the corporate law of its jurisdiction..

  • Corporate personality is the fact stated by the law that a company is recognized as a legal entity distinct from its members.
    A company with such personality is an independent legal existence separate from its shareholders, directors, officers and creators.
    This is famously known as the veil of incorporation.
  • Therefore share means a unit into which the Share Capital of the company is divided.
    A share is the interest of the shareholder in the company measured by a sum of money for the purpose of liability in the first place and dividend in the second as given by Justice Farewell.

What are the statutory provisions for directors of insolvent companies?

The overwhelming majority of the statutory provisions are aimed at curbing and penalising delinquent company directors of insolvent companies and allowing creditors to recover some money by imposing personal liability on the directors


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