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Company Incorporation

Quiz by Paul Drury

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25 questions
Show answers
  • Q1
    Which Act governs the formation of companies in the UK?
    Companies Act 1991
    Companies Act 1888
    Companies Act 2006
    Companies Act 1945
    30s
  • Q2
    What are the advantages of a company as opposed to a partnership?
    Transferable shares.
    Separation of ownership and control
    All of them.
    Separate legal personality
    30s
  • Q3
    This case lays down the general principles that a company has a separate legal perosnality. Solomon sold his business to a company of which he was both majority shareholder and managing director.
    Gulliver v Horne
    Salomon v Salomon
    Lee v Lees Air Farming
    Adams v Cape Industries
    30s
  • Q4
    Which one of the following statements about corporate personality is NOT true?
    A company has a separat legal personality.
    A company is not an artifical legal person.
    A company can be continued indefinitely untiil it is wound up.
    A company can sue and be sued in its own name.
    30s
  • Q5
    What sort of company enables investment into it but if it fails financially company fails the investor can lose the investment money and creditors can come after them to meet the business debts.
    Privity Corporation
    Corporation Sole
    Limited Partnership
    Unlimited Company
    30s
  • Q6
    What is the correct term for the legal address of the company that determines its nationality?
    Eminent domain.
    Capital residence.
    Site registered.
    Registered Office
    30s
  • Q7
    Which of the following statements about company names is true?
    All of them.
    The criminal law plays a significant role in the regulation of company names.
    A companies name can be the subject of a trademark.
    A company cannot use the same name as an existing company.
    30s
  • Q8
    What is the minimum amount of share capital that has to be invested before a public limited company can be formed?
    None of these
    At least £1 million
    At least £50,000.
    At least £20,000
    30s
  • Q9
    Provides that where a director or shadow director ought to have known that the company was unable to pay its debts as they fell due, but continued to trade that director has committed a wrong (negligence)
    Section 77 Companies Act 2006
    Section 9 Partnership Act 1890
    None of these
    Section 214 of the Insolvency Act 1986.
    30s
  • Q10
    What is the name for a person who sets up a company?
    PROMOTER
    30s
  • Q11
    What is the minimum number of shareholders that are needed to form a private company?
    There can be none.
    One
    Five
    Two
    30s
  • Q12
    When a company is bought from a shop, what is it called?
    A minted company.
    A risible company.
    An ideological company.
    An off the shelf company.
    30s
  • Q13
    "A partnership is an XXXX body." What is the word XXXX?
    UNINCORPORATED
    30s
  • Q14
    The Act that creates the offence of wrongful trading is:
    None of them.
    Insolvency Act 1986
    Companies Act 2006
    Insolvency Act 2006
    30s
  • Q15
    What is the name of the place where the pre-incorporation documents need to be filed?
    High Court
    Companies House
    Trade Marks Registry
    County Court (Small claims).
    30s

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