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Question
Write a word or a term or a phrase which can substitute the following statement:
Document which contains, Name Clause, Registered Office Clause, Capital Clause, etc.
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Solution
Memorandum of association.
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Select the correct answer from the option given below and rewrite the sentence.
The ______ Clause describes the range of activities a company can undertake
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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.
Write a word or a term or a phrase which can substitute the following statement:
Clause which describes the main activities a company can undertake.
Write a word or a term or a phrase which can substitute the following statement:
Document which establishes relationship between a company and its members.
State whether the following statement is True or False:
Memorandum of Association describes the nature and character of the company.
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Articles of Association can have provisions that contradict the Memorandum.
State whether the following statement is True or False:
Entrenched Articles cannot be easily altered.
State whether the following statement is True or False:
Only public companies can issue Prospectus.
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.
State whether the following statement is True or False:
Letter of offer is issued at the time of Rights Issue.
Find the odd one.
Select the correct option from the given options:
| Group A | Group B |
| Liability clause | ___________ |
Arrange in proper order.
a) Subscription clause.
b) Name clause.
c) Object clause.
Explain the following term/concept.
Name clause
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?
Distinguish between the following:
Memorandum of association and articles of association.
Justify the following statement.
The doctrine of Indoor Management protects outsiders who are unaware of the correctness of internal proceedings of a company.
