📝 One-liners · 74 cards
Membership of Company
(a) — Mode / Brief Description?
Mode: Subscription to MoA; Brief Description: Automatic on registration; no application/allotment needed; subscriber cannot rescind even on ground of promoter's fraud (Metal Constituents Ltd., In re (1902) 1 Ch. 707).
(b) — Mode / Brief Description?
Mode: Allotment of shares; Brief Description: Appropriation of shares by directors in favour of an applicant; member on entry of name.
(c) — Mode / Brief Description?
Mode: Transfer of shares; Brief Description: Purchase from existing holder; applicant becomes member on registration of transfer.
(d) — Mode / Brief Description?
Mode: Transmission of shares; Brief Description: Operation of law — on death, insolvency or lunacy of a member; surviving joint holder / legal heir steps in.
🔒
Unlock 74 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for Membership of Company.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days