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Question
Select the correct answer from the option given below and rewrite the sentence.
Articles establishes relationship between company and ________.
Options
Members
Outsiders
ROC
Advertisements
Solution
Articles establishes a relationship between company and Members.
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RELATED QUESTIONS
Select the correct answer from the option given below and rewrite the sentence.
Any act done by the company beyond the powers of Memorandum is called as _______.
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_________ acts are void or legally ineffective.
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_______ is an invitation to the public to subscribe for the shares of the Company.
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Document which establishes relationship between a company and its members.
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Document issued by public company inviting public to subscribe to its shares.
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Memorandum of Association and Articles of Association is prepared at the time of incorporation of a company.
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Any act done by the company beyond the powers of Memorandum is Ultra Vires.
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Memorandum contains rules and regulations for the internal management of a company.
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Every subscriber who signs the Memorandum must also sign the Articles.
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Entrenched Articles cannot be easily altered.
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Only public companies can issue Prospectus.
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The documents which state the aims and objectives of a company is called as_________
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The document which is subordinate to the Memorandum of Association is called _________
Explain the following term/concept.
Liability clauses
Study the following case/situation and express your opinion.
Mr. A entered into a contract with Star Limited company and as advance payment gave a cheque of ₹ 1 lac to a Director Mr. Sam. Mr. Sam is not the Managing Director. Articles state that only the MD is authorized to sign any contracts or receive any payments on behalf of the company.
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The doctrine of Indoor Management protects outsiders who are unaware of the correctness of internal proceedings of a company.
