INCORPORATION AND ITS EFFECTS
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
WHICH LAW STATED THAT NOTICE OF REGISTRATION WILL BE GIVEN ONCE A COMPANY HAS BEEN REGISTERED?
SECTION 15
SECTION 16
SECTION 17
SECTION 18
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
BELOW ARE THE EFFECTS OF INCORPORATION, EXCEPT
BECOME BODY CORPORATE
HAVE SEPARATE LEGAL ENTITY FROM ITS MEMBERS
CANNOT BEEN SUED
HAVE POWER TO ACQUIRE PROPERTY
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
THE PRINCIPLE OF SEPARATE LEGAL ENTITY ALSO KNOWN AS
VEIL OF CORPORATE
VEIL OF COMPANY
VEIL OF INCORPORATION
VEIL OF PERSONALITY
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
THE JUDGE DECIDED THAT IN SALOMON V SALOMON THE MEMBERS OF THE COMPANY IS A SEPARATE LEGAL ENTITY FROM ITS MEMBER
TRUE
FALSE
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
CAN A COMPANY ENTER INTO A CONTRACT WITH ITS SHAREHOLDERS?
YES
NO
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
BELOW ARE THE STATUTORY EXCEPTION TO THE PRINCIPLE OF SEPARATE LEGAL ENTITY, EXCEPT
OFFENCE RELATING TO UNAUTHORIZED DISTRIBUTION
OFFENCE RELATING TO FRAUD
OFFENCE RELATING TO DISTRIBUTION OF PROFIT
OFFENCE RELATING TO FINANCIAL ASSISTANCE TO PURCHASE SHARE
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
THE COURT WILL LIFT THE CORPORATE VEIL IF THERE WERE EVASION OF LEGAL OBLIGATION IN THE COMPANY AS MENTIONED IN
ASPASTRA SDB BHD & 21 ORS V BANK BUMIPUTERA MALAYSIA BHD & ANOR
SALOMON V SALOMON
GILFORD MOTOR CO LTD. HORNE
FOSS V HARBOTTLE
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