What is the meaning of company law?
What is the meaning of company law?
Corporate law (also known as business law or enterprise law or sometimes company law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses.
What is company law and its characteristics?
A company is a separate legal entity from its members who constitute it. It can hold, purchase and sell properties and enter into contracts in its own name. It is an artificial legal person who can sue aid be sued. Companies are owned by shareholders and they elect the Board of Directors, who run the company.
What is company law and its importance?
Company law exists to protect everyone and not just the major players in an organisation, which is why corporate law also makes provision for the rights of workers. Understanding what freedoms and benefits your employees are legally entitled to is crucial for avoiding internal conflicts.
What is business law definition and overview?
Business law encompasses all of the laws that dictate how to form and run a business. This includes all of the laws that govern how to start, buy, manage and close or sell any type of business. Business laws establish the rules that all businesses should follow.
What are the objectives of company law?
The basic objectives underlying the law are: A minimum standard of good behaviour and business honesty in company promotion and management. Due recognition of the legitimate interest of shareholders and creditors and of the duty of managements not to prejudice to jeopardize those interests.
What do we learn in company law?
There are two main areas of business law: The regulation of organisations through laws of partnership, company, bankruptcy, and agency. The regulation of commercial transactions through contract law, for example, handling legal issues including intellectual property, fraud, illegal trading etc.
What type of law is business law?
Business law is the law that governs what happens with commercial matters, and there are two main types: regulation of commercial entities and regulation of commercial transactions. Laws have evolved over centuries, and have had to adapt to changes in technology and society.
What are the functions of Company Law Board?
The Company Law Board (CLB) is a quasi-judicial body, exercising equitable jurisdiction, which was earlier being exercised by the High Court or the Central Government. The Board has powers to regulate its own procedures.
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