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Problem 1 - 19`3 - 15
This assignment is all about organisation and managers. Whilst completing this kind of assignment I obtained the chance to check out why organisations exist, just how managers control, what they share and how they differ. To complete this assignment I had developed to interview a Manager of any company or firm asking him the concerns given to us.
The Manager I acquired to interview is Mister. Abdulla Rafiu, Managing Overseer / Co-owner of Sunwill Company Pvt Ltd, operating out of Male' Metropolis, Maldives. His company consists of in generally construction business on agreement basis and importing of some supplies. This company is at business for over 5 years now. Discussing precede with the one on one discussion questions with Mr. Rafiu.
1 . Clarify the role and qualities of this organisation in general. This really is a limited liability company. This kind of business structure protects the owner's personal assets via financial the liability and provides some protection against personal liability. This kind of structure is made under federal government law. This organization that we prefer to call company is primarily doing agreement base construction projects just like construction of Rooms in resorts and housing apartment flats, etc . This Company is a separate organization with many specific features which in turn together set a unique organization. The essential attributes of this firm are not limited to following:
Separate Legal Entity:
This means under organization law of Maldives, a business turns into another type of legitimate aspect when in contrast with its people. This business is different and never quite similar to its persons in legislation. It has its seal as well as own particular name, it is assets and liabilities are discrete and unique by those of it is individuals. It is equipped to get owning real estate, causing accountability, and getting cash, utilizing persons, having a journal, going into agreements and suing and staying sued individually.
Limited The liability:
The risk of the individuals from this organization is constrained to commitment for the benefits of the business up to the encounter estimation of shares kept by him. A part can be obligated to pay only the uncalled cash due about shares kept by him. On the off chance the fact that benefits of the firm are not sufficient to pay the liabilities with the firm, the leasers may compel the accomplices to generate great the shortage off their individual solutions. This isn't feasible on account of an organization once the individuals have paid all their duty for the shares placed by them in the corporation.
This organization does not prevent to are present unless it really is particularly ended up or the job for which it was shaped continues to be finished. Participation of this firm may continue changing occasionally however it does not influence existence of this business. Bankruptcy or perhaps Demise of part would not influence the presence of this corporation.
This corporation is a unique legitimate element. This organization's house is its own. A part aren't claim to end up being holder of this organization's home amid the presence of this business.
Transferability of Shares:
Shares of this corporation are unreservedly transferable, controlled by specific conditions, such that simply no Shareholder is for all period or fundamentally married to the organization. On the point each time a part exchanges his stocks to somebody else, the transferee ventures into the shoes in the transferor and procures every one of the privileges of the transferor in admiration of those shares.
A company is an artificial individual and does not have physical vicinity. Therefore , it can work through it is Directorate intended for completing it is exercises and going into diverse understandings. This kind of contracts has to be under the seal of the...
Sources: Course Elements