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Business Finance

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I need a detailed description of the difference between a legal person an a human legal person. kindly give an illustration.

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hello, i have attached the paper. please find it. thanks

Running Head: BUSINESS LAW ASSIGNMENT

Title
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1

BUSINESS LAW ASSIGNMENT

2

A legal person is not always human, it can be described as any person human or otherwise
who has a right and duties at law. Whereas all human persons are legal persons, not all legal
persons are human persons. The non-human legal persons are called corporations or
companies. A corporation is therefore a legal person brought into existence by a process of
law known as incorporation or registration. Upon incorporation, a company is now said to
attain maturity hence a legal person.
A. Describe the process of registering a company in Kenya clearly bringing out the
essential requirements in that process.
A company comes into existence through a series of stages and the first stage is promotion. In
promotion, a person who discovers the idea would come up with proper organization of
funds, bring together promoters ,, materials to be used, machines, money and managerial
ability, and floats the enterprise. Again, the promoters would be required to do a detailed
investigations of the cost of production, estimated selling price, and the amount of profit to be
realized from that particular venture.
Registration of a company
Registration of a company is normally considered as the second stage in company formation.
At this stage, the promoters take the following steps.
i.

Forming a company name

The promoters must obtain approval of the proposed name from the registrar of companies.
This is necessary since any other legal entity must have a name for the identification
purposes. The promoters can always use any name that is not in existence with the registrar
of companies and may feel comfortable with. The name should not be misleading from the
nature of the business, the name should not also suggest association with the head of state or
president, local authority. After a company has had its name, section 2...


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