This work offers practical, skills-oriented information on business law and practice. It covers different forms of business organization and examines the costs and formalities of setting up different types of business and the way that profits of those businesses are taxed. In addition, the book looks at the taxation consequences of the death of a participant or on the disposal of an interest of the participant during his or her lifetime. Examination of the procedures for holding meetings and a resume of the various statutory books that have to be kept by the company are also included. Duties and obligations of partners, directors and shareholders are also discussed. Corporate insolvency and procedures for winding up and receivership, are discussed. The book also covers areas of contract law and examines the impact of European Community law on this area of contract, in particular, the law of competition as contained in Articles 85 and 86 of the Treaty of Rome.