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Question
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.
Options
True
False
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Solution
True
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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:
When a person buys shares of a company by filling up an application form, the person becomes a member by _________.
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:
The subscribers of this document are considered as Members of the company.
State whether the following statement is True or False:
Buying shares is the most common way to become a Member of the company.
State whether the following statement is True or False:
Both, individuals and body corporate can be members of the company.
State whether the following statement is True or False:
Minor can be the member of the company
State whether the following statement is True or False:
Member of the company is conferred with several rights.
Find the odd one:
Find the odd one:
Complete the sentence:
In case of death or insolvency of a member, he will cease to be a __________
Complete the sentence:
Members have a right to appoint and remove the __________
Select the correct option form the bracket.
| Group A | Group B |
| Minor | ___________ |
Correct the underlined word and rewrite the following sentence:
A Minor can be a member of a company.
Justify the following statement.
Nominee of the member of OPC becomes its member of the death of the member.
Justify the following statement.
Members of the company have some fundamental corporate decision-making rights.
Justify the following statement.
Transfer of shares results in termination of membership.
