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yes it is a legal entity. Go through section 987 of IPC. IPC has only 511 sections. How to go through section 987?
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By being a separate legal entity a corporation can sue and be sued This is known as a?
This is known as "legal personality" or "corporate personhood," which allows a corporation to enter into contracts, own assets, incur liabilities, and take legal action in its own name. This separate legal entity status provides protection to shareholders from being personally liable for the corporation's debts and obligations.
Can irrevocable trust be sued?
You can sue an irrevocable trust in any court as long as the claim is against the trust itself and not the individuals involved in the trust. A trust is considered a legal entity and property owned by it is subject to the trust's debts. The fact that it is a trust as opposed to a person or company makes no difference.
Who owns a trust?
A trust isn't something that is owned. A trust is a legal arrangement by which one entity holds legal title to property for another. The grantor of trust, or the entity that created the trust, may think in terms of owning the trust in the case of a revocable trust, however, the title to the trust property is always held by the trustee.
What religion has won the most court cases?
A religion is a concept, not a legal entity, and thus cannot sue or be sued.
Can a revocable trust start litigation with third parties?
Yes, however, the action is carried out by the trustee. The trustee of the trust acts on behalf of the trust. If there is a legal issue involving trust property the trustee is the entity with the legal authority to represent the trust.
What is the point of business incorporations?
When a business incorporates, it becomes a legal person in the eyes of the law. This entity can now file lawsuits and be sued. This classification protects the owners of the business from legal sanctions.
If you have a living trust and a umbrella insurance policy can the trust be sued.?
If you have a living trusts and an umbrella insurance policy can the trust be sued in an auto accident.
Can someone file a lien on real property that has no mortgage that is an asset of an irrevocable trust?
You can, but only if the lien is from a debt that is owed by the trust itself. If the debt is against the person who created the trust or against the person who is the beneficiary of the trust, then you cannot. The trust is considered a legal entity separate and apart from the individuals involved. The fact that it is a trust, as opposed to a person or business entity, does not prevent it from being liable for its debts.
Can you get sued by WikiAnswers?
WikiAnswers is a website (and also a community) and as such, it does not have the legal capacity to file a claim against any person or entity. However, the company owning the site and in charge of operating it - Answers Corporation - is a U.S corporation, and as such, it has the legal capacity to file claims against people and/or entities in appropriate cases and circumstances. To sum it up, you can NOT get sued by WikiAnswers. You can, however, get sued by WikiAnswers' owner and operator, Answers Corp.
What is the term Separate Legal Entity in corporate law?
can you like answer d question and let pple dat need the answer learn from it... instead of hiding d answers.... Separate Legal Entity Where companies are/have/can: - Different from its member, directors - Limited Liability - Sue or be sued - Own assets - Enter Contracts - Commit crimes (pollute)
Is a partnership firm has any legal entity?
No, a partnership firm has no legal entity. Registering the partnership firm means registering the partnership relation. firm has no separate legal entity.
When was the Lee-on-the-Solent Hovercraft Museum built?
The trust that runs the museum was made a full and legal entity in 1988, and the facility finally became a museum.
