Abiblo Law - Company (2)
English Law considers 2 types of organisations in the form of companies or partnership to those who wish to form an association, in order to carry on business.
Company will focus on company law.
Partnership will focus on partnership law which is codified on Partnership Act 1890. Focus on the law of agency. Each partners in a partnership became agents to one another.
This will lead to the framework of an association of a small body of person having confidence and trust in each other.
Company will totally focus on complicated form of association where there is large fluctuating membership with more elaborate organisation which will confer corporate personality.
This will constitute a distinct legal person subject to legal rights and legal duties separated from its member.
This company will be incorporated under general Act of Parliament. ( Companies Act 2006 )