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COMPANY LAW

QUESTION ONE

“The word company has a strict level meaning’ Anonymous.

Attempt a definition of a company.                                   {3 marks}

• Highlight the functions which a modern day company seeks to achieve.

{6 marks}

• Draw a distinction between the various forms of limited companies that may be registered under the Companies Act (Cap 486, Laws of Kenya).

{6 marks}

• ‘In carrying out their businesses, it is preferable that such business be carried out by way of a legal outfit christened company. This is fundamentally so, because of the numerous advantages that may be derived from such an outfit’ Anonymous

Discuss briefly FIVE advantages derived from incorporation of a company.

{10 marks}