A de jure corporation is a corporation whose legal right to exist cannot be questioned even by the state. De jure is a Latin term that means “by right” or “rightfully such.” Ordinarily, a de jure corporation is established by complying with...
llcs-corporations-partnerships
(Wex page)
A dealer has two common definitions in the legal context:
A retailer who purchases goods or services for resale to consumers in a principal capacity. In securities law, a person who functions at least part time as an agent, broker, or... (Wex page)
Delegate means giving another person or agent the responsibility of exercising the performance agreed to in a contract. Three parties are involved in this act - the one who sets the obligation to perform under the contract is called the...
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A derivative action is a type of lawsuit in which the corporation asserts a wrong against the corporation and seeks damages.
Derivative actions represent two lawsuits in one: (1) the failure of the board of directors to sue...
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In a corporation, a director is a person, appointed or elected by the shareholders to sit on the board of directors. Directors have the authority to implement corporate policy, and act by voting to pass board resolutions. Directors act as...
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Disregarding the corporate entity is also known as the “alter ego doctrine” or “piercing the corporate veil.” Generally, shareholders of a corporation are protected from being held personally liable for the corporation. If, however, the court...
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Dissolution is the act of bringing an end or termination of a legal relationship between two parties, such as a partnership, contract or marriage.
In the context of partnership law, dissolution is a fundamental change of...
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Dissolution of corporation refers to the closing of a corporate entity which can be a complex process. Ending a corporation becomes more complex with more owners and more assets. For every corporation, the starting point for ending the...
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Distribution is the act of dividing assets to one of several beneficiaries, as named in a trust or a will by a court. Also refers to (i) the payment of capital gains from an investment company to shareholders upon the sale of securities or...
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In the context of business law, distribution of profits is the dispensing of the profits amongst partners of partnership, members of a Limited Liability Company, or employees in a company, as per the terms outlined in a profit-sharing...