Answer:
Congress announces the results of the 1808 presidential election. Jefferson's secretary of state, Republican-Democrat James Madison, emerges victorious. Madison swamps Federalist opponent Charles C. Pinckney in electoral votes, 122 to 47. Pinckney carries only five states -- all of them in New England -- to Madison's twelve.
James Madison is inaugurated as the fourth President of the United states
<h2>
ADVANTAGE OF JOINT-STOCK COMPANIES</h2>
1. LARGE CAPITAL: The outstanding advantage is that it allows vast mobilization of capital which otherwise is not possible to arrange. In a public company, there is no limit to the number of members. A very large number of people acquire interest in the company by purchasing shares.
<h2>DISADVANTAGE OF JOINT-STOCK COMPANIES</h2>
1. FRAUDULENT MANAGEMENT: Frauds have been a common feature of many a company. The promoters and directors may indulge in fraudulent practices. The company law has devised various methods to check the fraudulent practices but they have not proved to check them completely.
An author's credentials should be checked by their current biography.
