John M.B. Balouziyeh's A Legal Guide to United States Business Organizations: The PDF

By John M.B. Balouziyeh

ISBN-10: 3642379060

ISBN-13: 9783642379062

ISBN-10: 3642379079

ISBN-13: 9783642379079

This quantity presents an summary of usa federal and nation legislations governing enterprise companies. The chapters take the reader via a step by step exposition of the main simple sole proprietorships to the main advanced multi-tiered conglomerates. one of the enterprise organisations handled are partnerships with their a number of modalities (general partnerships, restricted partnerships, constrained legal responsibility partnerships), agencies (including heavily held businesses, public enterprises and different diversifications) and restricted legal responsibility businesses.

The case legislations and statutes governing the total menu of commercial enterprises are systematically analyzed and awarded. top circumstances at either the federal and country point in addition to version laws comparable to the Uniform Partnership Act and enacted laws are additional tested.

Other subject matters coated contain business enterprise and partnerships, Accounting, taxation and finance, Startup firms and enterprise capital, Fiduciary tasks and shareholder keep watch over, Mergers and acquisitions.

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Extra info for A Legal Guide to United States Business Organizations: The Law of Partnerships, Corporations, and Limited Liability Companies

Example text

In exceptional circumstances, the directors may undertake charitable contributions and other acts not directly related to maximizing shareholder gains. These acts are, however, governed by a series of principles under the “rule of reason,” which limits the extent to which directors may make charitable contributions from the corporation’s profits. 1 Intra Vires Transactions An intra vires transaction is one that is within the power and authority of a corporation or individual. Corporations may, for example, be authorized to make charitable contributions, even when their corporate charters do not expressly allow this right.

Smith Mfg. Co. v. J. 3 The Scope of Corporate Purpose 51 Princeton University in the amount of $1,500. The defendant stockholders argued that the gift was not authorized within the corporate charter. The court held that the charitable contribution by the plaintiff was intra vires: the power to make a donation is implicit whenever the corporation can show that the donation is within the corporation’s interests. In the present case, the corporation argued that supporting private liberal education indirectly and ultimately benefits corporate culture.

Ct. App. 1981), the plaintiff sold her partnership interest to the defendants, only to later realize that her old bookkeeper had been embezzling funds. After the company sued to recover against the bookkeeper and banks that accepted forged checks, several banks paid judgments into court. The plaintiff’s estate brought suit, alleging that it was entitled to recover one half of these judgments. The court held that, because the plaintiff already transferred all of her interest by quitclaim deed, she was not entitled to recover these judgments.

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A Legal Guide to United States Business Organizations: The Law of Partnerships, Corporations, and Limited Liability Companies by John M.B. Balouziyeh


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