This paper examines the type of corporation which meets James’s best

This paper examines the type of passel which meets Jamess best interest. AbstractThis paper examines the type of corporation which meets Jamess bestinterest. A company smoke be set up with or without shares available tothe public, divided into the public company which is expensive toobtain and maintain, and the private company which is appreciated bymost businesses to begin with. Also, there are modified and unlimitedcompanies. In addition, a company can be classified as limited byguarantee or limited by capital shares which are in most companiesfavour. These are governed in the main by the Companies Act 1985 andrelevant case impartiality.IntroductionThere are several types of company. The most common company is alimited company, the obligation of the members being limited to theamount they have previously agreed. According to Denis Keenan (1996),a corporation is a episode or collection of persons having at lawan existence, rights and duties, recite and distinct from those oft he persons who are from time to time its members.This paper explains the reasons to form a company, and the reasons whya private company is more preferable than the public one, in concertwith the discussion of the company limited by guarantee and unlimitedcompany. Finally, the cases in Salomon v. Salomon Co. (1897) andMarcaura v Northern Assurance Co. Ltd help to evaluate the principleof personal succession which is the unique feature of being acompany. Across the paper, James is given recommendations to the typeof company which best suits his needs. a) Advantages of IncorporationIncorporating a company offers James many a(prenominal) advantages, even if he isdoing one-person business. Some of these advantages are- Separate legal personality. A corporation is by law recognized as a take away legal person. Since a partner in a general partnershiprepresents an agent of the business, when a change happens aboutpartners, it in most times differentiates the partnership. On theother hand , a corporation is not dependent on the life ofshareholders, directors, and officers, and will not be affected bychanges in, deaths and retirement of its members since it is by lawrecognized as a separate person. Furthermore, the day-to-day business is running unaffected. As aseparate person, a company can move in into transaction i... ...states that a shareholder is permitted to change the contents of thearticle and memorandum by special resolutions. A quick company may be born(p) and improved to best meet Jamess needs. It should be mentionedthat the company is better to be limited by a capital share, as thelimited by guarantee is not very keen on the profit-generatingprocess.BibliographiesBooksAndrew Hicks & S.H.Goo (2001) Cases & Materials on Company Law (4thed.). capital of the United Kingdom, Blackstone Press Limited.Denis Keenan (1996) Smith & Keenans Company Law for Students (10thed.). London, pitman PublishingGeoffrey Morse (1999) Charlesworth &Morse Company Law (16th ed. )London Sweet & Maxwell.Janet Dine (2001) Janet Dine Company Law (4th ed.). Palgrave LawMastersPaul L. Davies (2003) Gower and Davies Principles of ultramodern CompanyLaw (7th ed.). London Sweet & Maxwell.S. Kunalen & Susan Mckenzie (2001). Blackstones Law Questions &Answers- Company Law (2nd ed.). London, Blackstone Press Limited.Stephen Mayson, Dereck French & Christopher Ryan (2000) Mayson French& Ryan on Company Law (17th ed.). London Blackstone Press Limited.Web materialswww.businesslink.gov.uk