The aim of this paper is to study every problem which follows payment otherwis than in cash and legal nature of that system centering to establish public company limited by shares.
In the country where capitalistic economic has flourished the steady ...
The aim of this paper is to study every problem which follows payment otherwis than in cash and legal nature of that system centering to establish public company limited by shares.
In the country where capitalistic economic has flourished the steady development of corporal ion limited by shares give great influence to national economy development as well as enterprisers of employees.
Todays, there are many problems in corporation. One of them, the system of payment otherwise than in cash benefits investors as well as corporation. But the system is so called "dangerous appointment" that is, it has both a large room for unjust things to he entered, and dangerous factors for share capital security to be weakened.
In particular, in material company, especially corporation, possesion of company and management are separated strictly, so that share capital must be basis of resposible estates, and a company employees" qualification must be limited within investment duty of subscription of shares as a shareholder.
Therefore, to protect creditors and promote sound development of corporation limited by shares, share capital must be maintained, For such things, there has been a concret system from the viewpoints of business laws.
A hove all, definite standard of estimate is needed on the payment otherwise than in cash, because the objects of the investment have a strong individuality.
When the payment otherwise than in cash breaks, the problems must be solved according to the general principles of civil law, because there is not written law from the respect of current business laws.
And the general principles have to be applicated from the standpoints of steady share capital and system of payment otherwise in cash.
The corporation system has features to separate company and employees, as well as personal estates and company estates.
Then, debator may abuse these featurer and use for a wrong purpose the system of payment otherwise than cash to escape compulsory execution, and the creditors supper dameges.
For the protect of creditors, the system of compulsory execution, the right of rescission of creditors and application of disregarding of the correlate fiction must be adopted.