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15 Cards in this Set
- Front
- Back
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Governmental Corportation
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municipal corportation
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Nonprofit Corporation
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similar to nontaxing governmental, formed and operated by private person
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For-profit Corporation
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most common, usualy to make profit that may be distributed to the shareholders as dividends
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Close Corporation
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held by a small group of people who know one another
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Public Corporation
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sells shares to people who often have litle interest in it except as investors
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Promoters
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bring the corportation into being
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Ultra Vires
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a transaction that was beyond the corporations powers
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Alter Ego
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shareholders dominate day to day mgmt, mix their personal dealings and corporate transactions as if all were personal
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DeJure
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corporation that complies with the exact letter of the law
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De Facto
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honest attempt to comply with the letter of the law but somehow fail to do so
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Corporation by Estoppel
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the “entity” represents itself as a corporation to others then it will be held liable as a corporation
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Right of First Refusal
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either the corporation or its shareholders are given the right to buy shares offered for sale to an outsider willing to purchase them
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Buy and Sell Agreement
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corporation must buy and estate of deceased must sell.
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Consent Restraint
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shareholder must get permission of the corporation to sell to a new shareholder
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Alien Corporation
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domiciled in another country, or incorporated in another state
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