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What legal doctrine protects individual shareholders of a corporation from having to pay off all debts of a failed business?
Wiki User
∙ 10y ago
limited liability
Wiki User
∙ 10y ago
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Doctrine of incorporation?
it is somewhat with the corporation
What are the difference between De facto corporation and corporation by estoppel?
De facto corporation and corporation by estoppel are both terms that are used by courts to describe circumstances in which a business organization that has failed to become a de jure corporation (a corporation by law) will nonetheless be treated as a corporation, thereby shielding shareholders from liability. In order for a de facto corporation to be created, there must have been a good faith attempt to comply with the statutes to establish a corporation by the intended incorporators. For example, if the articles of incorporation were mailed to the wrong office, addressed to the wrong person, or lost in the mail. There must also have been some act on the corporation's behalf by its purported officers or agents. If both of these requirements are met, then the business will be treated as a corporation for all purposes, except with respect to acts by state itself. However, most states will not apply this doctrine to protect a person who was aware that the incorporation effort was defective at the time that they purported to act on behalf of the corporation. Corporation by estoppel applies against someone who deals with a business as if it were a corporation, even if there was no good faith effort by the business to incorporate. The person doing business with such an entity may later be estopped from arguing that it is not in fact a corporation in an attempt to reach the assets of the incorporators. For the same reason, defendants who had acted as a corporation will be estopped from denying liability as a corporation when sued by a plaintiff who had relied on the defendant's corporate form when dealing with the defendant
What is the doctrine of the incorporation under the fourteenth amendment?
it is somewhat with the corporation
What is is the doctrine of incorporation under the fourteenth Amendment?
it is somewhat with the corporation
The Doctrine of Nullification stated that the individual states did not have to obey Federal laws?
true
The religious doctrine of the Armenians held that?
Individual free will determined a person's life
What is the meaning of mercantile doctrine?
Commercial/business principals in religious aspects.
What is the definition and examples of mutualism?
The doctrine of mutual dependence as the condition of individual and social welfare.
What is Doctrine of Ultra Vires?
That there are certain actions a corporation has no power to perform or do, and an act of this type performed by a corporation is prohibited. For example, a corporation which is not authorized to issue stock is ultra vires to the issuance of corporate stock, or "without power" Generally unless a provision is explicitly stated in the law or the corporation's charter there is almost nothing that is considered ultra vires for a corporation.
What is the doctrine of superior individual?
It's philosiphical doctrine about elitist beliefs; the superior and powerful indicidual has a natural right to dominate others. All people are no more equal than all animals are.
Which accounting convention or doctrine is being applied when the owner's home computer is excluded from the assets of the business?
Business entity convention because owner’s assets must not be included with business assets
Convention or doctrine is being used when the owners home computer is not included as an asset of the business?
Business entity convention The business and the owner must remain separate
