Business Law Basics

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  • Created by: jutnut
  • Created on: 10-07-17 16:35

1. What is the New Law?

  • Now must create a register of people who have significant control of 25% of the company.
  • Now must create a register of people within the company who have significant control of 25% of the company.
  • Now must create a register of people within the company who have significant control of 45% of the company.
  • Now must create a register of people within the company who have significant control.
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Other questions in this quiz

2. What are the three business mediums

  • Sole Trader, Partnership and Company
  • Partnership, Trade Organisation and Company
  • PLC, Private Limited Company and Partnership
  • LLP, PLC and LTD

3. Types of company?

  • PLC, limited company and an unlimited company
  • Public Limited Company, Limited Liability Company and an Unlimit

4. How to set up a company?

  • Articles of Association, Declaration to Shareholders and fee to Register who then give a certificate of Incorporation and Notice in London Gazette
  • Application form, Articles of Association, Fee to the Registrar
  • Application form, Articles of Association, Fee to the Registrar who then give a certificate of Incorporation and Notice in London Gazette
  • Model Articles, Company name and fee to the Registrar who then give a certificate of Incorporation and Notice in London Gazette

5. Can the court pierce the corporate veil Saloman vs Saloman

  • Yes, but only if the person is under an existing legal obligation and deliberately evades by interposing a company under his control.
  • Yes, but only if the person is under an existing legal obligation and owns the company
  • No, it is unlawful to pierce the veil
  • No, as the company is its own legal entity and as such has its own rights

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