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Associations In English Law
Associations in English law are groups of people which are formed and act for a common purpose. In the United Kingdom, English and Scots law differ in the rules of contract and property, although a number of Acts of Parliament regarding associations are common to both jurisdictions. The five main types of association in English law are: *common law associations, that are not incorporated under any particular Act of Parliament, but exist merely through a contractual agreement; normally called unincorporated associations *trade unions, which are also formed by common law agreement, but are subject to special regulation under the Trade Union and Labour Relations (Consolidation) Act 1992 *a partnership, which arises automatically when people act together for the purpose of profit, and is regulated by the Partnership Act 1890, or alternatively registered with limited liability for most partners under the Limited Partnerships Act 1907, or for all partners under the Limited Liability Part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
People
A person (plural, : people) is a being that has certain capacities or attributes such as reason, morality, consciousness or self-consciousness, and being a part of a culturally established form of social relations such as kinship, ownership of property, or legal obligation, legal responsibility. The defining features of personhood and, consequently, what makes a person count as a person, differ widely among cultures and contexts. In addition to the question of personhood, of what makes a being count as a person to begin with, there are further questions about personal identity and self: both about what makes any particular person that particular person instead of another, and about what makes a person at one time the same person as they were or will be at another time despite any intervening changes. The plural form "people" is often used to refer to an entire nation or ethnic group (as in "a people"), and this was the original meaning of the word; it subsequently acquired its us ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Partnerships Act 1907
A limited partnership (LP) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (GPs), a limited partnership must have at least one GP and at least one limited partner. Limited partnerships are distinct from limited liability partnerships, in which all partners have limited liability. The GPs are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership. As in a general partnership, the GPs have actual authority, as agency law, agents of the firm, to bind the partnership in contracts with third parties that are in the ordinary course of the partnership's business. As with a general partnership, "an act of a general partner which is not apparently for carrying on in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Voluntary Association
A voluntary group or union (also sometimes called a voluntary organization, common-interest association, association, or society) is a group of individuals who enter into an agreement, usually as volunteering, volunteers, to form a body (or organization) to accomplish a purpose. Common examples include trade associations, trade unions, learned society, learned societies, professional associations, and environmental movement, environmental groups. All such associations reflect freedom of association in ultimate terms (members may choose whether to join or leave), although membership is not necessarily voluntary in the sense that one's employment may effectively require it via occupational closure. For example, in order for particular associations to function effectively, they might need to be mandatory or at least strongly encouraged, as is true of trade unions. Because of this, some people prefer the term common-interest association to describe groups which form out of a common i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Limited Company
A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public (although a PLC may also be privately held, often by another PLC), with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in the United States are called Public company, ''publicly traded companies''. Public limited companies will also have a separate legal identity. A PLC can be either an unlisted or listed company on the stock exchanges. In the United Kingdom, a public limited company usually must include the words "public limited company" or the abbreviation "PLC" or "plc" at the end and as part of the legal company name. Welsh companies may instead choose to end their names with , an abbreviation for '. However, some public l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies House
Companies House is the executive agency of the company registrars of the United Kingdom, falling under the remit of the Department for Business, Energy and Industrial Strategy. All forms of companies (as permitted by the Companies Act) are incorporated and registered with Companies House and file specific details as required by legislation. All registered limited companies, including subsidiary, small and inactive companies, must file annual financial statements in addition to annual company returns, and all these are public records. Only some registered unlimited companies (meeting certain conditions) are exempt from this requirement. The United Kingdom has had a system of company registration since 1844. The legislation governing company registration matters is the Companies Act 2006. History 19th century Prior to 1844, companies could only be incorporated through grant of a royal charter, by private act of Parliament, or, from 1834, by letters patent. Few companie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Act 2006
The Companies Act 2006 (c 46) is an Act of the Parliament of the United Kingdom which forms the primary source of UK company law. The Act was brought into force in stages, with the final provision being commenced on 1 October 2009. It largely superseded the Companies Act 1985. The Act provides a comprehensive code of company law for the United Kingdom, and made changes to almost every facet of the law in relation to companies. The key provisions are: * the Act codifies certain existing common law principles, such as those relating to directors' duties. * it transposes into UK law the Takeover Directive and the Transparency Directive of the European Union * it introduces various new provisions for private and public companies. * it applies a single company law regime across the United Kingdom, replacing the two separate (if identical) systems for Great Britain and Northern Ireland. * it otherwise amends or restates almost all of the Companies Act 1985 to varying degrees. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Company Law
The United Kingdom company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth and as an international standard setter, UK law has always given people broad freedom to design the internal company rules, so long as the mandato ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trust Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability Partnerships Act 2000
The Limited Liability Partnerships Act 2000 (c.12) is an Act of the Parliament of the United Kingdom which introduced the concept of the limited liability partnership into English and Scots law. It created an LLP as a body with legal personality separate from its members (unlike a normal partnership) which is governed under a hybrid system of law partially from company law and partially from partnership law. Unlike normal partnerships the liability of members of an LLP on winding up is limited to the amount of capital they contributed to the LLP. Section 2 of the act provides that an LLP may be incorporated when two or more persons associated for the purpose of carrying on legal business subscribe their names to an incorporation document; that incorporation document, or an approved copy of it, has been delivered to the Companies Registrar at Companies House; and a statement either by a solicitor or one of the subscribers that the formalities have been complied with has also been ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or partnership. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets of the company, not the assets of its shareholders or other investors. A shareholder in a corporation or limited liability company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any, except under special and rare circumstances permitting "piercing the corporate veil." The same is true for the members of a limited liability partnership and the limited partners in a limited partnership. By contrast, sole proprietors and partners in general partnerships are each liable for all the debts of the business (unlimited ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Partnership Act 1890
The Partnership Act 1890 (c. 39) is an Act of the Parliament of the United Kingdom which governs the rights and duties of people or corporate entities conducting business in partnership. A partnership is defined in the act as 'the relation which subsists between persons carrying on a business in common with a view of profit.' Main provisions A partnership can arise through conduct, oral agreement, or a written contract known as a partnership agreement. The minimum membership is two and the maximum is unlimited since 2002. The provisions of the Partnership Act 1890 apply unless expressly or implicitly excluded by agreement of the partners. Each partner is entitled to participate in management, get an equal share of profit, an indemnity in respect of liabilities assumed in the course of business and the right to not be expelled by other partners. A partnership ends on the death of a partner, unless an agreement is made prior to the deaths. Complexities Liability of partners In En ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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