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features of business law

Features & Characteristics Of A Company. Limited Liability. A company has to fulfil requirements in terms of documents (MOA, AOA), shareholders, directors, and share capital to be deemed as a legal association. Among these features and natures, the ones considered as essential include generality, normativity and sanction. BASIC FEATURES OF LAW [Biset Beyene, Introductory Note on Law in general, 2006, Unpublished, Alpha University College, Pp. Decision Making Power- Decision making is the sixth features of a sole trader and it means that an individual owner of the sole proprietor business can take all the legal decisions about the business because he is the owner and manager of his business. Hence, it can be ended by law alone and is unaffected by the death or insolvency of its members. Note: Features of a sole trader are also known as features of sole proprietorship. This includes all of the laws that govern how to start, buy, manage and close or sell any type of business. 6. One of the important features of a company is the limited liability of its members. In simple words, the company is an artificial person which is brought into existence by the law. The federal government primarily governs stocks and investments, workplace safety and employment laws, and environmental protections. Business law is regulated by both state and federal law. 1ff] Analysing the features and nature common to all laws would help us to understand the concept of law. Business law encompasses all of the laws that dictate how to form and run a business. Incorporated association: A company comes into existence when it is registered under the Companies Act (or other equivalent act under the law).

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