Is a document that governs the relationship between the company and the outside. It is basically a statement that the subscribers wish to form a company, have agreed to become members, and in the case of a company which is to have a share capital, to take at least one share each.

The failure to do something which a reasonable person would do in a particular situation, or doing something which a reasonable and prudent person would not do in similar circumstances. If an injured person proves that another person acted negligently and caused their injury, they can recover damages to compensate for their injury.