Q. No.6: Mr. A is a new entrant in the business field. He intends to set up a private limited

Company but he does not know the nature and various aspects of a company. He approaches

You and raises the following questions. Please answer.

i) What is a company?

ii) What are characteristics of company?

iii) Can one person create private limited company?

iv) Can a private company sell its shares to the public?

v) Can a private company take loan from a bank?

Note: answer should be in detail and with 0% copying from internet. answers should be according to Pakistani law.