Topic to be tested:
· Basic/Fundamental legal document of company
Learning objectives:
· To learn about one of the fundamental legal documents of a company required to be produced at the time of company registration in Pakistan, status of members’ liability and recognition of this status through the company’s name.
Discussion Question:
Professionals’ Group Associates (PGA) – a professional promoter has recently conducted a test for its yearly recruitment. In the test, one of the questions was about the name of a prime document providing the status of the “members’ liability” in any company working in Pakistan. This document along with other documents is required for the registration of a joint stock company in Pakistan.
You are required to:
1. Mention the name of the document carrying the status of “members’ liability”;
2. Briefly describe the true meaning of “member’s liability”; &
3. How a company can be recognized as a limited liability company through its name?
Important Instructions:
2. The GDB will remain open for 2 working days/ 48 hours.
3. Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
4. Obnoxious or ignoble answer should be strictly avoided.
5. Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over.
For Detailed Instructions please see the GDB Announcement
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