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MGT401 GDB Spring 2019 Solution & Discussion
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Mgt401 gdb solution required plz due date 23 july
MGT401 GDB Solution1 )The name of the document carrying the status of “members’ liability” is "Memorandum of Association"Section 16–Memorandum of company limited by shares.( In the case of a company limited by share) (a) thememorandum shall state—(i) the name of the company with the word "limited" as the last word of the namein the case of a public limited company, and the parenthesis and words "(Private) Limited" as the last wordsof the name in the case of a `private limited company; (iv) that the liability of the members is limited;
(2) •Liability of individual shareholder is limited to the amount of capital contributed by him. “CompanyLimited by Shares" is a company in which the liability of the members (shareholder) of the company islimitedto the amount of share capital that they have contributed which means that the owners will onlysuffer a loss to the extent of the amo
(3)the limited liability company can be recognized by its name . company must have to write word "limited orLtd" withhis name. The word Ltd shows that this company has limited liability.
MGT 401 GDB SOLUTION Professionals’ Group Associates (PGA) is a professional promoter’s association. The management of PGA has decided to conduct a survey to know about the basic understandings of the company employees regarding different affairs of the companies. For this purpose, the management designed and conducted a test from its yearly recruitment. Brief discussion of the survey was: In the survey, first questions was about the name of a legal and prime document providing the status of the “members’ liability” in any company working in Pakistan. Employees provided different answers and which were rated by the company management very deeply. They decided to give orientation to the employees regarding all the legal and essential documents of the companies’ operations. They also brief the employees about this document along with other documents which are required for the registration of a joint stock company in Pakistan. Suppose you were also among the employees of the company who attended the orientation session. Now you are supposed to have complete knowledge about the legal documents of the company and answer the following questions: Mention the name of the document carrying the status of “members’ liability”; Briefly describe the true meaning of “member’s liability”; & How a company can be recognized as a limited liability company through its name? Note: your answer must not exceed one line in each question.