COMPANY LAW-I, MODULE-I,

Introduction to Company Law

 Business Enterprises:
1.Non corporate in form;
2. Corporate in form;
 Non corporate in form:
1. Sole Proprietorship
2. Joint Hindu Family
3. Partnership
 Corporate character:
 COMPANY LAW-I, MODULE-I,
Introduction to Company Law
1.The cooperative organization
2. Company

Historical Development of Company Law in England:

History of Modern Company Law begins in 1825
when the Bubble Act 1720 was repealed in 1825 by
the Bubble Companies Act, 1825.
Joint stock companies Act, 1844
 COMPANY LAW-I, MODULE-I,
Introduction to Company Law
The Joint Stock Companies Act, 1856
The Companies Act, 1862
The Companies(Consolidation)Act, 1908
The Companies Act, 1929
The Companies Act, 1948
The Companies Act, 1967
The Companies Act, 1976
The Companies Act, 1980
The Companies Act, 1985
 COMPANY LAW-I, MODULE-I,
Introduction to Company Law
The Companies Act, 2006

Historical Development of Companies Act in India:

The Companies Act, 1850
The Companies Act, 1856;
The Companies Act, 1913;
The Companies Act, 1956;
The Companies Act, 2013
 COMPANY LAW-I, MODULE-I,
Introduction to Company Law
Company-Definition and Meaning, nature and
Characteristics:
 “Company”----originated from latin word ‘Com’—
meaning-’with’/ ‘together’ and ‘panies’ meaning
‘bread’.
Nature and Characteristics of Company:
1. Corporate Personality or Separate Legal Entity
2. Limited Liability
3. Perpetual Succession
 COMPANY LAW-I, MODULE-I,
Introduction to Company Law
4.Separate Property
5. Transferability of shares;
6.Capacity to sue and be sued;
7. Contractual Rights;
8. Common Seal;
9.Limitation of Action;
10. Separate Management;
11.Termination of Existence
 COMPANY LAW-I, MODULE-I,
Introduction to Company Law
Company Vs. Partnership:
1. Separate Legal Entity;
2. Property;
3. Creditors;
4. Perpetual Succession;
5. Number of Members
6. Liability
7. Status
 COMPANY LAW-I, MODULE-I,
Introduction to Company Law
Company Vs. Corporations:
 An association of persons incorporated according to
the relevant law and clothed with legal personality
separate from the persons constituting it is known
as a corporation.
 The word ‘corporation’ or words ‘body corporate’
is /are both used in the companies Act, 2013.
 Section 2(11) of the Act defines the term ‘body
corporate’ or ‘corporation’.
 The term ‘body corporate’ is wider than ‘company’.