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State whether the following statement is True or False. A company is an artificial person. - Secretarial Practice

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Question

State whether the following statement is True or False.

A company is an artificial person.

Options

  • True

  • False

MCQ
True or False
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Solution

True

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Formation of a Company
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Chapter 3: Formation of a company - Exercise Q.1 [Page 45]

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Balbharati Secretarial Practice [English] 11 Standard Maharashtra State Board
Chapter 3 Formation of a company
Exercise Q.1 | Q 4.01 | Page 45

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c) Preliminary contracts 3. Promoters
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Term which refers to contracts entered into by Promoters with third parties on behalf of the proposed company;


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Study the following case/situation and express your opinion.

Mr. Ram, Mr. Sam, and Mr. Tom who are partners have come together to convert their business into a company. They have finalized all the details about the business they want to do, capital needed, etc. However, they do not know how to proceed with the legal formalities. Hence they appoint Mr. Shah who is a Practicing Company Secretary to help them prepare documents needed for incorporating the proposed company.

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Study the following case/situation and express your opinion.

 Mr. Talong with his 5 friends have submitted all the necessary documents for incorporation of TRIM private limited company.

a) How many minimum promoters are needed to incorporate a private company?

b) When can TRIM Private limited company be said to have come into existence.

c) Name the two most important documents that must be submitted at the time of the Incorporation of a company.


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