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Business Associations

Business Associations

Clement Shum
Copyright Date: 1989
Pages: 88
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  • Book Info
    Business Associations
    Book Description:

    This book deals mainly with the law of agency and partnership and also touches on the basic principles of company law with special reference to the law of Hong Kong.

    eISBN: 978-988-220-051-7
    Subjects: Law

Table of Contents

  1. Front Matter
    (pp. i-iv)
  2. Table of Contents
    (pp. v-vi)
  3. General Editor’s Foreword
    (pp. vii-vii)
    Derek Roebuck

    Times are changing for professional education as for all else in Hong Kong. The Hong Kong Society of Accountants has recognized the need to bring its educational demands home to Hong Kong and forward to the present day. All the law parts of the professional examinations will now require the student to know the law in Hong Kong rather than England. Before the Society could make those changes it had to be confident that students had appropriate textbooks from which to study Hong Kong law, and so it asked the members of an advisory committee on law studies, who represented...

  4. Preface to the Second Edition
    (pp. viii-viii)
    Clement Shum
  5. Chapter 1 Agency
    (pp. 1-26)

    Contract is the basic legal tool of business. It is the machinery by which business relations are created and controlled. One particular kind of contract is important when business grows into something more than isolated transactions between one person and another. This is the contract of agency. No limited company can act except by means of agents. Partners are for some purposes agents of each other, and many business situations require the intervention of an agent.

    There is a basic rule of contract that only a party to a contract can sue on it, or only a person who has...

  6. Chapter 2 Partnership
    (pp. 27-50)

    Partnership law in Hong Kong is contained principally in the Partnership Ordinance (PO) and the Limited Partnerships Ordinance (LPO). No nationality or residency requirements exist in either of these ordinances. PO follows the English Partnership Act 1890 and LPO follows the English Limited Partnerships Act 1907. PO is the principal ordinance dealing with general partnerships. Limited partnerships are governed by LPO. The provisions of PO apply to limited partnerships except so far as they are inconsistent with the provisions of LPO.

    PO is a codifying statute, and the rules of equity and of common law applicable to partnership continue in...

  7. Chapter 3 Companies
    (pp. 51-62)

    A business can be conducted through the medium of a body corporate, or by an individual as a sole trader, or under a partnership.

    This is the simplest and therefore most common form of business entity since there are so few legal requirements involved. The sole trader is his own boss without any shareholders or co-directors or partners to answer to. Sole traders’ affairs are their own and there is no legal requirement to register accounts. One important disadvantage is that a sole trader is personally responsible for all debts and obligations incurred in relation to the business. The other...

  8. Bibliography
    (pp. 63-64)
  9. Abbreviations
    (pp. 65-66)
  10. Table of Cases
    (pp. 67-70)
  11. Glossary and Index
    (pp. 71-74)
  12. Back Matter
    (pp. 75-75)