LAW346 Introduction To Partnership And Company Law Assignment Answer Malaysia

LAW346 Introduction to Partnership and Company Law is a course offered by The UiTM. The course provides an excellent introduction to the legal aspects of operating a business as a partnership or company. It covers key areas such as the regulatory framework, corporate governance, contractual relationships, and financial aspects of running a business. The course is taught by experienced academics who are experts in their field and provides an invaluable overview of the legal principles governing businesses in Malaysia.

This course is essential for any student considering a career in business or law and will provide them with a strong foundation on which to build their future studies. The course is also beneficial for those who are already working in the business or legal sector, as it will provide them with an understanding of the principles that govern their work.

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In this section, we discuss some assignment activities. These are:

Assignment Activity 1: Describe The Laws Regulating Partnerships And Companies In Malaysia.

The Malaysian Partnership Act 1958 and the Companies Act 1965 are the two main pieces of legislation regulating partnerships and companies in Malaysia.

The Partnership Act 1958 governs all partnerships, whether they are registered or unregistered. Among other things, the Act sets out the rules for the formation of a partnership, the rights and duties of partners, and the dissolution of a partnership.

The Companies Act 1965 meanwhile governs all companies incorporated in Malaysia. The Act sets out rules on directors’ duties, shareholder rights, disclosure requirements, and corporate governance. It also regulates matters such as public offerings, mergers and acquisitions, and insolvency.

Both the Partnership Act 1958 and Companies Act 1965 are administered by the Registrar of Companies which is under the jurisdiction of the Ministry of Domestic Trade and Consumer Affairs.

Assignment Activity 2: Apply The Principles Of Law Relating To Partnership And Company To Real-Life Problems.

There are a few key principles of law relating to partnership and company that can be applied to real-life. The most important one is that partnerships and companies are separate legal entities from their owners. This means that they can own property, enter into contracts, and sue or be sued in their own right.

This separation of owner and company is particularly important when it comes to liabilities. For example, if a company owes money to someone, the owner cannot simply write a cheque to clear the debt – the company itself must actually pay the debt. This principle can sometimes cause problems for business owners, who may find themselves liable for debts that they had no knowledge or control over.

Another important principle is the doctrine of limited liability. This doctrine provides that the liability of shareholders in a company is limited to the amount of money they have invested in the company. This means that if a company goes bankrupt, shareholders will only lose the money they have invested and will not be liable for any further debts. This doctrine is particularly important for small businesses, which may have limited resources and could be put out of business if they were liable for the debts of their customers.

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