TOPIC 1 : INTRODUCTION TO COMPANY LAW

In Malaysia, incorporation of company is under

• Company Law 2006

• Company Law 2016

• Corporate Law 2006

• corporate 2016

MyCoID2016 is an acronyms for:

• Malaysian Corporate Identity

• Malaysian Company Identity

• Malaysia Corporate Identity

• Malaysia Company Identity

Once a company is incorporated, the company exists as a legal personality. This is refer to the Principles of __________________________

• Separated Legal Personality

• Split Legal Personality

• Salomon Legal Personality

• Separate Legal Personality

Company can take action to implement its rights in law and prosecute in its own name for breach of duties. Give the main case for this characteristic:

• Foss v Harbottle

• Salomon v Salomon Co Ltd

• Macaura v Northern Assurance Co Ltd

• Lee v Lee’s Air Farming Ltd

Liability of a company is its own and not of its members. Company cannot hold its members liable for any debts that occurs in the company. True or False:

• True

• False

In the case of Lee v Lee’s Air Farming Ltd, Mrs Lee was not entitled to claim for compensation. True or False:

• True

• False

In the case of Macaura v Nortern Assurance Co Ltd, Macaura have no right to claim indemnity form the insurance company as he have no interest in the timber anymore. True or False:

• True

• False

Director is not liable for any debts of the company and would only be liable in case of breach of his/her duties or any fraud that he/she commits. This is refer to the case of liability of members. True or False?

• True

• False