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What Is The Minimum Number Of Owners For Any Corporation Or LLC?
For the LLC and corporation, the minimum number of owners is one person. Exactly the same person can own the company, run the company and become named because the sole officer, director, or manager from the business. Don't let a lawyer let you know that she or he should be named in one of these simple roles.
What is the meaning of mortgage foreclosure?
Mortgage foreclosure is a process by which a person, who has a mortgage on land, legally sells that same land. A mortgage can be defined as a property loan.
What combination results when a corporation purchases other corporations that don't produce the same types of goods?
Conglomerates
What are the advantages and disadvantages of corporate culture?
Advantages: you need this type organization where people come together to create something like an automobile, and not fear the loss of personal assets in case the enterprise fails. Corporation allows to take on risks, which would not be taken by anyone personally. Disadvantage stems from that same idea of risk. Risks that corporation takes do not go away, they are more or less shared by other parties: customers, creditors, and others who deal with a corporation. There is also a legal notion that corporation is a person. And can be sued. So directors of a corporation often make collective decisions that may negatively affect the rest of society, in order to make profit for shareholders. Collectivism is a problem in corporations just as it is in Socialism. Individually directors and other officers would not make decisions they otherwise make in a corporation. So you could say incentives are different.
What is the largest amount a corporation can deposit?
No bank in any country around the globe can limit the amount of money that can be deposited into its accounts. It is your money and you can deposit it anytime you want and with any bank you want. If the amounts are huge, the banks may ask you to provide a source of income for regulatory reporting purposes. But, they can never say No to a deposit or set any limits on the same. Irrespective of whether the person depositing is an individual customer or a corporation
Can a person be legally married to two people at the same time?
No, a person cannot be legally married to two people at the same time in most countries as it is considered bigamy, which is illegal.
Can a person be morally right and legally wrong at the same time?
absolutely.
How does a gay person feel about going in public?
a gay person feels exactly the same as a straight person about going in public.
Difference between parastatal and public corporation?
A parastatals is a government organization. They do what the government tells them. A public corporation is owned by the members of the public, via shareholding.
In Kentucky how old do you have to be to drive a scooter legally on the roads?
The same age you would have to be to drive ANY vehicle on a public road.
What group did Newt Gingrich try to zero out?
I'm probably doing the same exam, I found it to be the CPB, or Corporation of Public Broadcasting.
Is title to a house the same as a deed to it?
Not exactly. The person with title to a property is the person who legally owns it. A deed and a title are not the same thing. A deed is a legal document that transfers the title from one person to another.
Can you be fired because your partner has left the same company?
You can't legally be fired for something another person does
Can one business invest company money into another business?
A corporation is often referred to as an 'artificial person.' Thus, speaking in general terms only, a corporation can do whatever an individual person can do. In principle (although this might vary from jurisdiction to jurisdiction), there is no general prohibition against a corporation investing in another corporation, in the same way that there is no general principle against an individual person investing in a corporation. For legal advice in any such matter, however, please consult a lawyer.
Why can't the owner of a corporation also be the manager?
There is no reason why a company cannot be both owned and managed by the same person.
Why is deer hunting illegal in public places?
Why is it illegal to shoot a person in public? same reason. it is murder.
Can a president also be a treasurer or secretary in a corporation?
Yes, one person can act as president, secretary and treasurer. Historically, corporations were required to have a president and a secretary, who could not be the same person. Modern statutes, however, still require a corporation to have both a president and a secretary but specifically allow the same person to fill both offices. Corporate governance is based on state statutes, so there may be some variation between states.
