online games, multiplayer games
Simcountry is an Online Digital World where you are the President of a country.
No download needed!
What is Simcountry?
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What is Simcountry?

!!!!!!!!!!!!We want Limited Liability- Petition!!!!!!!!!!!!! (Fearless Blue)

Simcountry: Simcountry Bulletin Board  !!!!!!!!!!!!We want Limited Liability- Petition!!!!!!!!!!!!! (Fearless Blue)

Big Brother (Fearless Blue)

Friday, December 24, 2004 - 10:02 pm Click here to edit this post
Wow, even better than I hoped for!!!!

Jossi has clearly done some major thinking on corporations and their nature, beyond the scope of "Limited Liability". This really is a brilliant Christmas Present! Although I think I have to concede the point about limited liability and it's effect on risk to the lender to an extent! (Although the differential interest rates that we already have would take care of that to a limited point).

One important issue he has got to grips with is the idea that corporations should only pay dividend out of profit.

As an aside and history lesson to anyone interested. Early English Companies that were set up before the Companies Acts- (Each company was then incorporated by individual Act of Parliament then, they tended to be companies set up to build canals and railways, or to run bits of the Empire), were sometimes allowed to pay dividend out of capital!!! This situation is just , when Parliament passed the Companies Act to allow incorporation on demand, they did then put in provisions in company law stating that companies could only pay dividend out of profit generated, rather than digging into capital. (Now we call such arrangments Pyramid Selling!) So it's interesting that we have gone through the exact same process of development in Simcountry as happened in my own jurisdiction in the Victorian Period.

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