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What is a legal arrangement where two or more people share ownership of a business called?
partnership
In a legal situation where an insurance company has salvaged a recovered item does the insured previous owner then have any legal right or entitlement to ownership after accepting a payout?
Once the insured previous owner accepts a payout from the insurance company for a lost or damaged item, they typically relinquish any legal rights or claims to that item. The insurance company, having compensated the owner, generally acquires ownership of the salvaged item. Thus, the previous owner's entitlement to ownership is generally forfeited upon acceptance of the payout. However, specific terms in the insurance policy and applicable laws can vary, so it’s advisable to consult legal counsel for nuanced situations.
What are the kinds and legal forms of business ownership?
Corporation; a sole proprietorship; a limited partnership; a general partnership
What are the different types of business ownership?
There are several types of business ownership, including sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). A sole proprietorship is owned by a single individual, while partnerships involve two or more people sharing ownership and responsibilities. Corporations are separate legal entities that protect owners from personal liability, and LLCs combine features of partnerships and corporations, offering flexibility and limited liability. Each type has its own legal implications, tax treatments, and management structures.
What are types of business organization in terms of ownership?
Business organizations can be classified into several types based on ownership: sole proprietorships, where one individual owns and operates the business; partnerships, which involve two or more people sharing ownership and responsibilities; corporations, which are legal entities separate from their owners and can issue stock; and limited liability companies (LLCs), combining features of both partnerships and corporations while providing limited liability protection to owners. Each type has distinct legal, financial, and operational implications.
Where can I find the LLC operating agreement?
You can find the LLC operating agreement in the official records of the LLC, typically kept with the company's legal documents or with the state where the LLC is registered. It outlines the rules and structure of the company, including ownership, management, and decision-making processes.
Who has legal control of a website?
The one that registered the website. If you build a website for a company, but the company registered the website, they have legal ownership. You might want to read Terms and Conditions of website to know who has the legal ownership and control.
How does a legal agreement for a property ownership work?
Very well, if it is indeed a legal contract. If it was legally signed and witnessed, notirized, and recorded at the County courthouse - it's legal and binding.
Where can I get an operating agreement for my business?
You can get an operating agreement for your business from an attorney, online legal services, or business formation services. It is a crucial document that outlines the ownership and operating procedures of your business.
Is it legal for a trash hauling company to charge a fuel surcharge that the customer hasn't agreed to.?
It would depend on the terms of the agreement between the trash hauling company and the customer. If the agreement allows for fuel surcharges or includes language that allows for additional charges, then it may be legal. However, if the customer did not agree to such charges or they are not stipulated in the agreement, the company may not be legally entitled to impose them. It is advisable to review the agreement and seek legal advice if necessary.
How can I go about selling my company vehicle to myself?
To sell your company vehicle to yourself, you would need to follow the proper legal and financial procedures. This typically involves transferring ownership of the vehicle from the company to yourself, which may require a sales agreement, payment, and updating the vehicle's registration and insurance. It's important to consult with legal and financial professionals to ensure the transaction is done correctly.
What is the Legal effects of shareholders agreement after the company is to be registered?
http://wiki.answers.com/Q/What_is_the_Legal_effects_of_shareholders_agreement_after_the_company_is_to_be_registered"
Does vacation ownership group a legal company?
The Vacation Ownership Group is not a legal company nor do they dispense legal advice. They are not lawyers and are not associated with any bank, credit card company or law firm. However, they do have an attorney on staff who works as their legal counsel but does not give legal advice to any of the company's clients. The V O Group, LLC is a legal LLC in the state of New Jersey with a corporate office in Egg Harbor Township. They also have offices in Nashville, Tenn. and Dennis, Mass.
How can I reclaim ownership of my house after selling it?
To reclaim ownership of your house after selling it, you would need to repurchase it from the new owner or negotiate a buyback agreement. This process may involve legal steps and negotiations with the current owner. It is important to consult with a real estate attorney to understand the legal options available to you for reclaiming ownership of your house.
It is said that if a company is incorporated it can make contracts or legal agreements Why so?
A company is incorporated it can make contracts or legal agreements is making an agreement. This is making the business more successful.
Can a partner upgrade condo without partners consent?
Your answer depends on the legal complications involved with co-ownership of the title. If there is no written agreement, and no underlying agreement such as a marriage contract involved, you may find the answer you want from your attorney.
How should the proceeds of a house sale be split among the owners?
The proceeds of a house sale should typically be split among the owners based on their ownership percentage or as agreed upon in a legal document such as a co-ownership agreement.
