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First Principles of Business Law

Business organisations in Australia

7. Companies

7.2. Questions to consider

Here is a list of all the questions dealt with in this section, using the facts of Edward's case as an example. Click on each of the questions in the list for more information.

1	What does it mean to say that a company has a 'separate legal personality' of its own?
2	What different types of company exist?
3	How is a company created?
4	Can a company be used to run a small business by a single person on their own?
5	Does a company have to register a business name?
6	Who carries out the day-to-day operation of a company?
7	What limits are placed on the exercise of power by company directors?
8	What rules govern the internal management of a single director/shareholder company?
9	What rules govern the internal management of multi-director/shareholder companies?
10	Who is bound by transactions entered into by a company?
11	How does a company get the capital and assets it needs to run a business?
12	What is 'limited liability'?
13	How does anyone know that the business they are dealing with is a limited liability company?
14	What is a 'secured' transaction?
15	Can a company's assets be used to provide security for a debt?
16	What agencies exist in Australia to regulate and supervise companies?
17	What happens to profits a company makes? Who is liable to pay tax on company profits?
18	How is the existence of a company ended?

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