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Question
Select the correct answer from the options given below and rewrite the statement:
When a person buys shares of a company by filling up an application form, the person becomes a member by _________.
Options
Application and allotment of shares
Subscribing to Memorandum
transmission of Shares
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Solution
When a person buys shares of a company by filling up an application form, the person becomes a member by Application and allotment of shares.
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RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement:
A person can be called as a Member when the name is entered in ________
Select the correct answer from the options given below and rewrite the statement:
____________ means a person ceases being a member of the company of membership.
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Insane person | 1) Transfer of shares by operation of law |
| b) Foreigner | 2) Cannot be a member |
| c) Transmission of shares | 3) Cessation of membership |
| d) Surrender of shares | 4) To get copies of Auditor’s, Directors’ Report, etc. |
| e) Right of Members | 5) Can be a Member |
| 6) To attend a board meeting | |
| 7) Duties of member | |
| 8) Surrendering all assets to the company | |
| 9) Demand or claim money from the company | |
| 10) Transfer of shares by order of Secretary |
Write a word or a term or a phrase which can substitute the following statement:
End of membership of a person.
Write a word or a term or a phrase which can substitute the following statement:
A person whose name is entered in Register of Members.
Write a word or a term or a phrase which can substitute the following statement:
The subscribers of this document are considered as Members of the company.
State whether the following statement is True or False:
Legal competency to enter into contracts is one of the criteria to become a member of the company.
State whether the following statement is True or False:
Limited Liability Partnership cannot be a member of the company
State whether the following statement is True or False:
Minor can be the member of the company
Find the odd one:
Complete the sentence:
Members have a right to appoint and remove the __________
Answer in one sentence:
Which individuals cannot become a member of a company?
Explain the following Term/Concept.
Transmission of Shares
Justify the following statement.
Member and Shareholder are interchangeable terms.
Justify the following statement.
Subscribers to Memorandum of Association are the first members of the company.
Justify the following statement.
Nominee of the member of OPC becomes its member of the death of the member.
Justify the following statement.
Transfer of shares results in termination of membership.
Answer the following question:
Explain the circumstances when Member is not a shareholder and vice-versa.
