Company Legislation
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Questions and Answers

What were the two forms of business associations in England during the 14th century?

  • Limited liability and Unlimited liability
  • Monopoly and Partnership
  • Guilds and Royal Charters
  • Commenda and Societas (correct)

    • In the 16th century, what did the Royal Charters grant to members of the Company?

  • Ownership of the trading company
  • Limited liability for trade activities
  • Exclusive rights to individual trade
  • Monopoly of trade over a certain territory (correct)

    • What was the East India Company's role in trade in India?

  • It had a monopoly of trade in India (correct)
  • It established partnerships with Indian traders
  • It focused on individual trade activities
  • It was solely involved in overseas trading

    • What did the 1844 Joint Stock Companies Act in England provide for the first time?

    <p>Formation of companies without obtaining a charter or special Act of parliament</p> Signup and view all the answers

    What was the main difference between 'Commenda' and 'Societas'?

    <p>Limited liability for the financier in 'Commenda' and unlimited liability for all members in 'Societas'</p> Signup and view all the answers

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