C18 - Other Vehicles

Question 1

Foundation

Answer 1

Separate legal personality
Can contract in own name
Don’t have shareholders
Founder - requests foundation to he incorporated

Question 2

Partnership

General partnership

Answer 2

Verbal

2+ partners

Question 3

Partnership

Limited liability

Answer 3

Form under incorporation under limited liability partnership act

Separate legal personality from members

Question 4

Partnership

Limited partnership

Answer 4

Not corporate bodies

No separate legal personality

Question 5

Partnership

Incorporated

Answer 5

Separate legal personality from members, gold assets and contracts in own name

Perpetual succession

Question 6

Partnership

Separated LP

Answer 6

Similar to lp, have separate legal personality

Question 7

Special Purpose vehicles

Answer 7

Specific purpose/transaction, offshore companies comps, share capital, typically owned by trust with charitable beneficiaries

Profit distributed to charities

Question 8

Private trust companies

Answer 8

Comp formed to add as trustee of one particular first or group of trusts