Doctrine of Piercing the Veil of Corporate Entity Requires the court to see through the protective shroud which exempts its stockholders from liabilities that they ordinarily would be subject to‚ or distinguishes a corporation from a seemingly separate one‚ were it not for the existing corporate fiction (Lim vs CA‚ 323 SCRA 102) Extent: The application of the doctrine to a particular case does not deny the corporation of legal personality for any and all purposes‚ but only for the particular transaction
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MEMORANDUM OF LAW TO: Supervising Attorney FROM: Polly Paralegal RE: Jane Doe’s Asylum Case DATE: August 16‚ 2000 Questions Presented 1. Whether Jane‚ a minor‚ would be able to file a petition for asylum on her own behalf? 2. Whether Billy‚ the minors uncle and non-custodial adult‚ would be able to file a petition for asylum on behalf of Jane‚ if being a minor is an issue? 3. Whether Jane can use claims of physical abuse and being used as a governmental propaganda tool as grounds
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expect a share of the profits too. Each shareholder puts money into the company and receives a portion of the company – shares – equivalent to what they put in. Despite each shareholder owning a piece of the company‚ in law it is seen as a legal entity – the same as an individual – that is entirely separate from the shareholders or members‚ as they are sometimes known. It can be sued‚ make a profit or loss‚ be held responsible for its employees’ actions and go into liquidation – the term used
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Tutorial Week 7 - Class and Entity-Relationship Diagrams 1 Class Diagrams and Entity Relationship Diagrams (ERD) Class diagrams and ERDs both model the structure of a system. Class diagrams represent the dynamic aspects of a system: both the structural and behavioural features. ERDs‚ depicting only structural features provide a static view of the system. 2 Class Diagrams 2.1 Elements of a class diagram: 2.1.1 class A class is a general concept (represented as a square box). A class defines
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Joint-Stock Company: A joint-stock company is a business entity which is owned by shareholders. Each shareholder owns the portion of the company in proportion to his or her ownership of the company’s shares (certificates of ownership). This allows for the unequal ownership of a business with some shareholders owning a larger proportion of a company than others. Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. In modern corporate
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Sole trader – Definition: A sole trader is a company started and run by one individual A sole trader - also known as a sole proprietorship or simply proprietorship - is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. Sole trading is widespread- A very large proportion of business conducted in the UK is undertaken by the trader working on his own usually providing his own money (capital) to start
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UNIVERSITY OF KARACHI ASSIGNMENT OF BAKING OPERATION AND MARKETING PREPARED FOR: SIR Khalid Jamil Ansari DEPARTMENT: Karachi University Business School SEMESTER: 2nd semester SUBJECT: Banking Operations CONTENT 1. How many types of customers and elaborate it ________________01 2. How many type of account also explain them?__________ 03 3. What are the basic requirements for opening of an account?__________________________________________04 1 | Page Q1.How
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artificial legal entity separate and distinct from its members or shareholders. This legal person is distinguishable from natural personality. Natural persons are born by natural people/persons and their lives end at death‚ artificial persons (corporations) are created by law and their existence is ended by the law. The possession of a legal personality implies that a company is capable of enjoying rights and being subject to duties‚ separately from its members. As an artificial legal person
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Consulate General of India Toronto SETTING UP BUSINESS IN INDIA BY FOREIGN COMPANIES A foreign company planning to set up business operations in India has the following TWO options: 1. AS AN INDIAN COMPANY A foreign company can commence operations in India by incorporating a company under the Companies Act‚ 1956 through: a. Joint Ventures; or b. Wholly Owned Subsidiaries Foreign equity in such Indian companies can be up to 100% depending on the requirements of the investor‚ subject to
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MEMORANDUM OF LAW To: Brenda Young‚ Supervising Attorney From: Steven Carp ‚ Legal Assistant Date: September 26‚ 2012 Re: Enforcement of non-competition agreement against Brett Young I.QUESTIONS PRESENTED Whether the restrictive covenant is enforceable against Brett Young for working with a competitor of Finance R Us. II. SHORT ANSWER: No‚ the covenant is not enforceable against Brett Young for leaving Finance R Us and working for Titles Unlimited when the III. STATEMENT
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