llcs-corporations-partnerships

Definition

See: Dissolution of corporation.

Definition

See: Dissolution of corporation.

Definition

1) In business law, the relationship between companies in a distribution chain. For example, a manufacturer and a distributor are in vertical privity. Those in vertical privity are jointly liable for product defects in the vertical chain.

2) The relationship between a party to a restrictive covenant and a person who later acquires the property burdened by the covenant from the party. The purchaser is bound by the covenant if he or she had sufficient notice of it at the time of purchase.

See: Massachusetts trust.

Definition

Unincorporated business organization. See: Massachusetts trust.

Definition

Stock that has been reacquired by the issuing corporation. While held by the issuer, the stock is considered issued but not outstanding, and is not considered in measuring the value of outstanding common shares.

Definition

An agent, usually a commercial bank or trust company, appointed by a corporation to keep legal records of all the corporation's stockholders. The transfer agent updates these records when stock is transferred, issued or cancelled.

Definition

A public offer to buy shares of a corporation, usually at above market price and with the intention of gaining controlling interest in the target corporation. An acquirer making a tender offer for more than 5% of a corporation's shares is required to file certain disclosures with the Securities and Exchange Commission.

See also

• Takeover
• Poison pill

Definition

See: joint venture.

Definition

See: S corporation.