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Question
Select the correct option from the given options:
| Group A | Group B |
| Incomplete prospectus | ___________ |
Options
Articles of Association
Red Herring Prospectus
Primary document
details of liability of members
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Solution
| Group A | Group B |
| Incomplete prospectus | Red herring prospectus |
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RELATED QUESTIONS
Select the correct answer from the option given below and rewrite the sentence.
_________ clause states the amount of Authorised capital with which the company is registered.
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_______ is an incomplete prospectus.
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Primary document of a company which states aims and objectives 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 need not have a Liability Clause.
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Entrenched Articles cannot be easily altered.
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Prospectus can be issued by a private company.
State whether the following statement is True or False:
Prospectus must be issued within 1 year from the date of tiling it with the ROC.
Find the odd one.
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The document which is subordinate to the Memorandum of Association is called _________
Select the correct option from the given options:
| Group A | Group B |
| Liability clause | ___________ |
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.
- Did Mr. Sam have the authority to accept the cheque? Why?
- Can Mr. Sam’s action be called as Ultra Vires? Why?
