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प्रश्न
Answer the following question:
Define a ‘company’. Explain the types of companies on the basis of the liability of members.
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उत्तर
Definition: Prof. Haney defines Joint Stock Company in the following words, “A joint stock company is a voluntary association of individuals for profit having a capital divided into transferable shares, the ownership of which is the conditions of membership.” In simple terms, a joint stock company is a form of business organisation in which persons interested in doing some business with sole aim of earning profit form an association and get it incorporated (registered) under the Companies Act.
Types of companies on the basic of liability.
(1) Company limited by Shares: A company in which the liability of each member is limited or restricted to the extent of unpaid part of the face value of shares purchased by him is called company limited by shares. The company during its existence or in the event of insolvency or Winding up can ask its member to pay the remaining unpaid amount due on the shares held by them. In this company, liability of the directors may be unlimited. A company limited by shares may be public company or private company. Most of the companies in India 'are companies limited by shares.
(2) A company limited by Guarantee: A company in which its members give a guarantee to pay a fixed or specified sum of money in the event of its liquidation is called company limited by guarantee. Profit-making is not the aim of such companies. They are usually formed to promote activities in art, literature, sports, education. Religion or charity etc.
(3) Unlimited Liability Company: A company in which liability of members is unlimited as partners in the partnership firm, is called a company with unlimited liability In the event of insolvency of the company, creditors may recover their dues from the private property of the members/partners. This company may or may not have share capital. However, this type of company does not exist in India. I
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संबंधित प्रश्न
Write a word or a term or a phrase which can substitute the following statement.
The senior most family member of Joint Hindu Family Business.
Write a word or a term or a phrase which can substitute the following statement.
An artificial person created by law.
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The persons who have entered into an agreement of partnership.
Write a word or a term or a phrase which can substitute the following statement.
A person who purchases shares of Joint Stock Company.
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Name a company that is created by a special legislation of parliament or state assembly.
State whether the following statement is True or False.
A joint stock company is voluntary association of persons.
State whether the following statement is True or False.
A Joint Stock Company does not enjoy independent legal status.
State whether the following statement is True or False.
Board of Directors manage the Company.
Complete the sentence.
A company which is incorporated under a special Act is called as ________
Select the correct option form the bracket.
| Group ‘A’ | Group ‘B’ |
| Public company | ___________ |
Select the correct option form the bracket.
| Group ‘A’ | Group ‘B’ |
| Incorporated Outside India | ______________ |
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Define Joint Stock Company and explain its feature.
Answer the following question:
Explain any four types of companies.
Write a word or a term or a phrase which can substitute the following statement.
The members of Joint Hindu Family Business.
Write a word or a term or a phrase which can substitute the following statement.
The members of Joint Hindu Family Business.
Write a word or a term or a phrase which can substitute the following statement.
The members of Joint Hindu Family Business.
