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Contract Obligations When Going Into Business with Partners

In: Business and Management

Submitted By Corrib
Words 7036
Pages 29
Table of Contents. Page

Section 1 Memo to Joe Bloggs 2
1.1 Corporate Structure 2
1.2 Formation of a proposed company 2
1.3 Registration 2-3

Section 2 Memorandum of Association 3
2.1 Article of Association 4
2.3 Directors of Company 4-5
2.4 Secretary 5
2.5 Share Capital 5
2.6 Charges 5-6
2.7 Auditors 6
2.8 AGM or EGM 6

Section 3 Any Protection under Irish Company Law 6-7

Section 4 Conclusion` 7

Reference 8

Appendix
Appendix A Company limited by share 9
Appendix B Duties of Shareholders 9
Appendix C Directors/Secretary/ Companies 9-10
Appendix D Directors Responsibilities 10-11
Appendix E Secretary Responsibilities 11
Appendix F Ten points to contracts 11
Appendix G Standard form contract 12
Appendix H General Principles 13-20

Section 1 Memo to Joe Bloggs

Relating to going in to business with the Corcorcan brothers in the manufacture of hurleys and protection of supply of Ash in Poland.

1.1 Corporate Structure.
Recommend a private company limited by shares. Consisting of 4 members, 3 Corcorcan brothers and Joe Bloggs. Corcoran brothers well supply facilities, contacts, accountancy knowledge and marketing. You will supply web based sales knowledge.

Each member must contribute a nominal sum of money and be issued with shares. The right of members to transfer their shares is restricted, under Article of Association. You must request 26% or more shares in the company to prevent majority rule applying.

Most commonly used legal entity by small and medium sized businesses as they offer business owners limited liability protection and can minimize taxation exposure. 90% of Irish companies in Ireland are private limited companies.

The company is a separate legal entity,...

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