B Com Exam > B Com Notes > Company Law > Termination of Membership - Members & Shareholders, Company Law
Termination of Membership - Members & Shareholders, Company Law | Company Law - B Com PDF Download
Cessation of Membership
A person may cease to be a member of a company :
- If he transfers his shares to another person.
- By the sale of his shares by the company in exercise of right of lien over his shares.
- By forfeiture of his shares;
- By a valid surrender of his shares.
- By the death of a member. The estate of the deceased remains liable until the shares are registered in the name of his legal representative.
- By his insolvency.
- By his rescission of contract to take shares on the ground of misrepresentation or fraud.
- By the winding-up of the company, of course he remains liable as a contributory.
- By redemption of redeemable preference shares.
- By issue of share warrants to him in exchange of fully paid shares.
The document Termination of Membership - Members & Shareholders, Company Law | Company Law - B Com is a part of the B Com Course Company Law.
All you need of B Com at this link: B Com
|
81 docs|44 tests
|
FAQs on Termination of Membership - Members & Shareholders, Company Law - Company Law - B Com
| 1. What is the process for terminating membership in a company? |  |
Ans. The process for terminating membership in a company typically involves following the guidelines set forth in the company's articles of association or bylaws. This may include submitting a written request to the board of directors, attending a shareholders' meeting, or obtaining a specific number of votes from other shareholders. It is important to consult the company's governing documents and seek legal advice to ensure compliance with the applicable laws and regulations.
| 2. Can a member be terminated from a company against their will? | |
Ans. In general, a member cannot be terminated from a company against their will unless there are specific provisions in the company's articles of association or bylaws that allow for such termination. These provisions may include situations where a member violates certain obligations or fails to meet specific criteria set by the company. It is crucial to review the company's governing documents to understand the circumstances under which termination can occur.
| 3. What happens to a member's shares upon termination of their membership? | |
Ans. The fate of a member's shares upon termination of their membership depends on the company's governing documents and applicable laws. In some cases, the terminated member may be required to sell their shares back to the company or to other shareholders at a predetermined price or based on the fair market value. Alternatively, the terminated member's shares may be transferred to the remaining members or sold to third parties. It is advisable to consult legal counsel to understand the specific provisions related to share ownership and transfer in the given company.
| 4. Can a terminated member take legal action against the company? | |
Ans. A terminated member may have the right to take legal action against the company if the termination is deemed to be unfair, unlawful, or in violation of the company's governing documents. This could include claims such as breach of contract, breach of fiduciary duty, or discrimination. However, the specific legal recourse available to a terminated member will depend on the jurisdiction and the circumstances surrounding the termination. It is advisable to consult with a lawyer specializing in company law to assess the viability of any potential legal action.
| 5. Is there a difference between termination of membership and withdrawal from a company? | |
Ans. Yes, there is a difference between termination of membership and voluntary withdrawal from a company. Termination of membership typically occurs when a member is involuntarily removed from the company due to the violation of certain obligations or other specified reasons outlined in the company's governing documents. On the other hand, voluntary withdrawal refers to a member's decision to leave the company voluntarily, often by providing notice to the board of directors or other shareholders. The specific rights and obligations associated with termination and withdrawal may vary, so it is important to review the company's governing documents to understand the implications of each.
Related Exams
About this Document
|
3.7K Views |
|
4.72/5 Rating |
|
Dec 19, 2024 Last updated |
Document Description: Termination of Membership - Members & Shareholders, Company Law for B Com 2024 is part of Company Law preparation.
The notes and questions for Termination of Membership - Members & Shareholders, Company Law have been prepared according to the B Com exam syllabus. Information about Termination of Membership - Members & Shareholders, Company Law covers topics
like and Termination of Membership - Members & Shareholders, Company Law Example, for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Termination of Membership - Members & Shareholders, Company Law.
Introduction of Termination of Membership - Members & Shareholders, Company Law in English is available as part of our Company Law
for B Com & Termination of Membership - Members & Shareholders, Company Law in Hindi for Company Law course.
Download more important topics related with notes, lectures and mock test series for B Com
Exam by signing up for free. B Com: Termination of Membership - Members & Shareholders, Company Law | Company Law - B Com
Description
Full syllabus notes, lecture & questions for Termination of Membership - Members & Shareholders, Company Law | Company Law - B Com - B Com | Plus excerises question with solution to help you revise complete syllabus for Company Law | Best notes, free PDF download
Information about Termination of Membership - Members & Shareholders, Company Law
In this doc you can find the meaning of Termination of Membership - Members & Shareholders, Company Law defined & explained in the simplest way possible. Besides explaining types of
Termination of Membership - Members & Shareholders, Company Law theory, EduRev gives you an ample number of questions to practice Termination of Membership - Members & Shareholders, Company Law tests, examples and also practice B Com
tests
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Summary
,mock tests for examination
,Important questions
,Exam
,video lectures
,shortcuts and tricks
,Previous Year Questions with Solutions
,ppt
,Viva Questions
,Sample Paper
,Company Law | Company Law - B Com
,study material
,Semester Notes
,Company Law | Company Law - B Com
,Termination of Membership - Members & Shareholders
,Termination of Membership - Members & Shareholders
,Company Law | Company Law - B Com
,Extra Questions
,Free
,Termination of Membership - Members & Shareholders
,practice quizzes
,Objective type Questions
,MCQs
,past year papers
;
Additional Information about Termination of Membership - Members & Shareholders, Company Law for B Com Preparation
Termination of Membership - Members & Shareholders, Company Law Free PDF Download
The Termination of Membership - Members & Shareholders, Company Law is an invaluable resource that delves deep into the core of the B Com exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Termination of Membership - Members & Shareholders, Company Law now and kickstart your journey towards success in the B Com exam.
Importance of Termination of Membership - Members & Shareholders, Company Law
The importance of Termination of Membership - Members & Shareholders, Company Law cannot be overstated, especially for B Com aspirants.
This document holds the key to success in the B Com exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Termination of Membership - Members & Shareholders, Company Law Notes
Termination of Membership - Members & Shareholders, Company Law Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Termination of Membership - Members & Shareholders, Company Law.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Termination of Membership - Members & Shareholders, Company Law Notes on EduRev are your ultimate resource for success.
Termination of Membership - Members & Shareholders, Company Law B Com Questions
The "Termination of Membership - Members & Shareholders, Company Law B Com Questions" guide is a valuable resource for all aspiring students preparing for the
B Com exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Termination of Membership - Members & Shareholders, Company Law on the App
Students of B Com can study Termination of Membership - Members & Shareholders, Company Law alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Termination of Membership - Members & Shareholders, Company Law,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Termination of Membership - Members & Shareholders, Company Law is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup