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Q 1/25
Score 0
Which Act governs the formation of companies in the UK?
30
Companies Act 1991
Companies Act 1888
Companies Act 2006
Companies Act 1945
Q 2/25
Score 0
What are the advantages of a company as opposed to a partnership?
30
Transferable shares.
Separation of ownership and control
All of them.
Separate legal personality
25 questions
Q.
Which Act governs the formation of companies in the UK?
1
30 sec
Q.
What are the advantages of a company as opposed to a partnership?
2
30 sec
Q.
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.
3
30 sec
Q.
Which one of the following statements about corporate personality is NOT true?
4
30 sec
Q.
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.
5
30 sec
Q.
What is the correct term for the legal address of the company that determines its nationality?
6
30 sec
Q.
Which of the following statements about company names is true?
7
30 sec
Q.
What is the minimum amount of share capital that has to be invested before a public limited company can be formed?
8
30 sec
Q.
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)
9
30 sec
Q.
What is the name for a person who sets up a company?
10
30 sec
Q.
What is the minimum number of shareholders that are needed to form a private company?
11
30 sec
Q.
When a company is bought from a shop, what is it called?
12
30 sec
Q.
"A partnership is an XXXX body." What is the word XXXX?
13
30 sec
Q.
The Act that creates the offence of wrongful trading is:
14
30 sec
Q.
What is the name of the place where the pre-incorporation documents need to be filed?
15
30 sec
Q.
What does "piercing the veil" mean?
16
30 sec
Q.
Two parties contracted for the sale of land. Lipman changed his mind and formed a company to avoid the contract and convey the land. Held that the company was a facade and this was not allowed. Which case was this?
17
30 sec
Q.
The situation where a company is formed with the same name as a company that has been wound up after an insolvent liquidation is what?
18
30 sec
Q.
A company can be created in several ways. Which ONE of the following is NOT a valid method of creating a company?
19
30 sec
Q.
Which ONE of the following cases is regarded as the leading case on the piercing of the corporate veil?
20
30 sec
Q.
Does a registered company have to have a written set of Articles of Association.
21
30 sec
Q.
Which one of these is NOT a justification for lifting/piercing the corporate veil by a court?
22
30 sec
Q.
Consider the following two statements: "1. A certificate of incorporation is a document issued by a governmental authority granting a company status as a legal person." "2. A memorandum of association is a legal document that sets out the details of the first shareholders in the company." Are these statements
23
30 sec
Q.
The name of the sum paid to the companies registrar for registering a company is called what?
24
30 sec
Q.
In the case of Salomon v Salomon [1897] AC 22 Lord MacNaughten said:
"The company is at law a different person altogether from the XXXX to the memorandum". What is the missing word XXXX?
