《BUSINESS ENTITIES:A PRACTICAL GUIDE》求取 ⇩

1.Introduction to, and Overview of, Business Entities1

A.Background1

B.The Solicitor’s Business Checklist: Establishing a Business3

C.The Client Interview4

D.Legal Written Skills5

E.Commerciality7

Sole Traders9

2.Overview of Sole Traders9

A.Introduction9

B.The Solicitor’s Business Checklist as Applied to Sole Traders9

Partnerships17

3.Overview of Partnerships17

A.Introduction17

B.The Solicitor’s Business Checklist as Applied to Partnerships18

4.Partnerships and Specific Legal Issues23

A.Introduction23

B.Setting up and Expanding the Partnership27

C.Relationships between Partners30

D.Partners’ Liability to Third Parties: Authority32

E.Dispute within a Partnership35

F.A Partner Leaving the Partnership37

G.Dissolution of the Partnership40

H.A Partnership Agreement Overview42

Miscellaneous Issues: Sole Traders and Partnerships43

5.Personal Insolvency43

A.Legislation43

B.Background43

C.Informal Arrangements45

D.The Bankruptcy Petition47

E.The Trustee in Bankruptcy49

F.Effect of Bankruptcy Order50

G.Rules for Preserving and Increasing the Bankrupt’s Assets53

H.Disposals and Payments Made after the Bankruptcy Petition54

I.Distribution of Assets57

J.Discharge of the Bankruptcy Order57

6.Taxation of Sole Traders and Partnerships59

A.Introduction59

B.Key Concepts in the Tax Assessment of Business61

C.An Example of the Tax Assessment of a Self-Employed Individual64

D.An Overview of Schedule D64

E.Change of the Preceding Year Basis for Schedule D65

F.The Taxation of a Pre-April 6, 1994 Business66

G.The Taxation of Business Commencing on or after April 6,199468

H.Tax Relief for the Trading Losses of a Business70

I.Specific Provisions Affecting Trading Partnerships71

J.Deductions by the Partnership72

K.The Taxation of Interest Payments Made by the Business73

L.Retirement Provisions73

M.The Taxation of Capital Gains for Businesses74

N.Capital Gains Tax （CGT） and Business Reliefs75

O.Inheritance Tax for Businesses80

7.Business Names83

A.Introduction83

B.The Business Names Act 198583

C.Breaches of the Business Names Act 198585

Companies86

8.Overview of Companies86

A.Introduction86

B.The Solicitor’s Business Checklist as Applied to Companies87

9.Companies—General Matters and Incorporation98

A.Statutes Concerning Companies98

B.Introduction98

C.Sources of Company Law99

D.Registration and Incorporation100

E.Pre-incorporation Contracts101

F.Types of Companies102

G.Public Companies104

H.Quoted Companies106

I.The Private Company Limited by Shares106

10.The Constituent Documents of a Company108

A.Introduction108

B.The Memorandum of Association108

C.Tailor-made and Shelf Companies110

D.The Articles of Association110

E.Typical Amendments to Table A for Private Limited Companies111

F.Articles Added to Table A113

G.Optional Transfer Articles113

H.Amending the Company’s Constitution114

I.Amending the Memorandum of Association115

J.Amending the Articles of Association116

K.Members’ Rights Regarding Amendment of the Company’s Constitution117

L.Shareholders’ Agreements117

11.Shares and Shareholders118

A.Background118

B.Types of Shares118

C.Shareholders119

D.Duties of Shareholders120

E.The Issue and Allotment of Shares121

F.Pre-emption Rights or “Rights of First Refusal”122

G.Pre-emption Rights on the Issue of Shares123

H.The Transfer of Shares125

I.Pre-emption Rights on the Transfer of Shares126

J.Matters to Be Considered as Part of a Transfer of Shares127

K.The Death of a Shareholder129

L.Amendment of Company’s Records on a Shareholder’s Departure130

M.Company Disputes131

12.Directors and Other Company Officers136

A.Background136

B.The Appointment of Directors137

C.Directors’ Contracts of Employment138

D.Removal of a Director by the Shareholders138

E.Disqualification of Directors140

F.Directors’ Powers141

G.Directors’ Duties142

H.Statutory Provisions of the Companies Act 1985 Affecting Directors145

I.The Company Secretary147

J.The Auditors148

K.Liability of the Company to Third Parties148

L.Liability of the Directors to Third Parties151

M.Other Types of Directors152

N.Personal Financial Liability of Directors153

O.Financial Protection Given to Directors154

13.Company Procedure156

A.Background156

B.General Matters Concerning Meetings157

C.Directors’ Meetings158

D.Shareholders’ Meetings161

E.Types of Shareholders’ Resolutions163

F.Advising a Shareholder165

G.Alternatives to Meetings169

H.Written Resolutions169

14.Basic Company Finance and Maintenance of Share Capital170

A.Equity and Debt170

B.Maintenance of Share Capital186

15.Corporate Insolvency194

A.Introduction and the Nature of Corporate Insolvency194

B.The Insolvency Procedures196

C.The Avoidance of Transactions Entered into by a Company Prior to Liquidation or Administration213

D.The Personal Liabilities of Directors （and Others） in the Event of a Company’s Insolvent Liquidation217

16.Company Taxation222

A.Introduction222

B.The Income Schedules223

C.Background Concepts224

D.The Taxation of Companies225

E.Losses Made by a Company226

F.Business Reliefs227

G.The Taxation of Payments Made by the Company231

H.Schedule E235

I.Retirement Provisions for Employees and Officers242

J.Taxation Issues Concerning Shares245

K.Inheritance Tax247

17.A Common Commercial Transaction: Sale and Purchase of a Private Limited Company251

A.Introduction251

B.Outline of the Sale and Purchase of a Private Limited Company253

C.The Main Documentation Representing the Sale and Purchase of a Private Limited Company255

D.Conditional Contracts for the Sale and Purchase of a Private Limited Company268

E.The Financial Services Act 1986 and Share Sale and Purchase Agreements269

18.Specialist Topics272

19.International Business Transactions273

20.The European Community and European Community Law275

A.Background275

B.The Sources of European Community Law276

C.The Institutions of the European Community277

D.European Community Law for Business Clients279

21.Competition Law281

A.Introduction281

B.U.K.Competition Law283

C.European Community Competition Law285

22.Joint Ventures296

A.Introduction296

B.Types of Joint Ventures297

C.The Advantages and Disadvantages of Joint Ventures298

D.The Use of Joint Venture Agreements299

23.Agents and Distributors300

A.Introduction300

B.Defining Agency300

C.Types of Agent300

D.Agency Relationships in the Context of the Business Entities302

E.Types of Agency Agreements303

F.Commercial Agents Regulations 1993304

G.Distribution and Distribution Agreement304

24.Trusts306

A.Introduction306

B.Trusts in Relation to the Business Entities306

C.Constructive Trusts307

Appendices308

Appendix 1: Sole Traders308

1.1 Terms, Definitions and Legislation308

1.2 Self-Test Questions and Answers308

Appendix 2: Partnerships312

2.1 Terms, Definitions and Legislation312

2.2 Example Agreement and Annotations313

2.2.1 Example Partnership Agreement313

2.2.2 Index of a Typical Partnership Agreement323

2.3 Self-Test Questions and Answers327

Appendix 3: Companies330

3.1 Terms, Definitions and Legislation.330

3.2 Table A, Articles of Association （Companies Act 1985）334

3.2.1 Amendments to Table A Articles356

3.2.2 Transfer Articles361

3.2.3 Additional Optional Articles369

3.3 Other Company Documents370

3.3.1 Forms G10 and G12370

3.3.2 Stock Transfer Form-J30374

3.4 Shares and Shareholders Self-Test Questions and Answers379

3.5 Directors’ Self-Test Questions and Answers381

3.6 The Board Meeting Self-Test Questions and Answers385

3.7 The Extraordinary General Meeting Self-Test Questions and Answers387

3.8 Basic Company Finance Self-Test Questions and Answers390

3.9 Sale of a Private Limited Company Self-Test Questions and Answers393

Appendix 4: Tax and Insolvency396

4.1 Taxation Terms, Definition and Legislation396

4.2 Insolvency Terms, Definitions and Legislation399

4.3 Tax Self-Test Questions and Answers405

4.4 Insolvency Self-Test Questions and Answers407

4.5 Corporate Insolvency Self-Test Questions and Answers408

Appendix 5: Glossary413

Appendix 6: Ready Reckoner Regarding Fees,Percentages and Sterling Amounts Referred to in this Guide426

Index429