To be liable in a legal sense simply means to be held legally responsible or obligated. For example, a defendant in a civil torts case may be liable to pay damages to the plaintiff if the court rules in favor of the plaintiff.
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To be liable in a legal sense simply means to be held legally responsible or obligated. For example, a defendant in a civil torts case may be liable to pay damages to the plaintiff if the court rules in favor of the plaintiff.
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Limited liability is a business law principle that shields individual shareholders from liability for debts owed by a business entity to the extent of the shareholder’s investment in the entity. As a result, an investor’s personal property is...
Malfeasance is an act that is illegal and causes physical or monetary harm to someone else. Malfeasance is intentional conduct that is wrongful or unlawful, especially by officials or public employees.
In the context of tort law, “...Generally, margin, or profit margin, is the difference between a product or service’s selling price and the cost of production. For example, if you pay 50 cents for a pencil and sell it for a dollar, your margin is 50%.
A margin can also refer...
Marginal tax rate is a percentage of tax that a person incurs on the next dollar of income, as opposed to flat taxes that charge the same rate regardless of one’s income. A system that uses marginal tax rate requires a taxpayer with a higher income to...
Member is the equivalent shareholder in a limited liability company (LLC). Compared to a limited partner of limited liability partnerships (LLP), the members of an LLC share almost the same way to control the business like a general partner,...
In general, a merger is the act of uniting separate things. Specifically -
1. In corporate law, a merger is the absorption of one corporation into another. The surviving corporation acquires all the assets and liabilities of...
Minutes, in corporate law, are permanent and formal records of business conducted and resolutions adopted at a meeting of the board of directors or shareholders. Once accepted at the next meeting, the minutes become an official representation...
The New York Stock Exchange (NYSE) is a New York City-based public marketplace for trading stock. It is the largest stock exchange in the world based on market capitalization.
Stock traders traditionally traded on the floor...
A non-profit organization is a group organized for purposes other than generating profit and in which no part of the organization's income is distributed to its members, directors, or officers. Non-profit corporations are often termed "non-...