Entity

One of the more well-known users of Special Purpose Entity (SPEs) was Goldman Sachs. According to Times Magazine (2012). Sachs was also penalized roughly over $500 million by the Securities and Exchange Commission (SEC) for concealing the truth about the collection of mortgages to the investors. The biggest problem was this enabled banks to give the impression to regulators and investors that all of the risk of the mortgages was removed off their books. This included loss ratios on low-key…

The Dawes Severalty Act which is also known as the General Allotment Act was passed on February 8, 1887 by Congress and signed my President Grover Cleveland. Congress stated the goals of the Act, “were simple and clear cut: to extinguish tribal sovereignty, erase reservation boundaries, and force the assimilation of Indians into the society at large.” The Act required Native Americans to be give up their land and be relocated in return for individual land grants. The Dawes Act divided Indian…

in society, which predisposes them to many legal issues. A prominent legal issue deals with the corporate veil and its tendencies to shield corporate leader’s criminal activities. Instead of corporate leaders receiving repercussions, the corporate entity is penalized. This essay will discuss the legal issue of corporate corruption by examining the realism, functionalism, post-structuralism and corporate neoliberalism sociological theories, and the implications surrounding living law, law reform,…

Student ID: 1330882 Paper 1: Russell and Strawson Introduction In this paper, I will compare and contrast Russell’s and Strawson’s accounts on definite descriptions, which are phrases of the form “the X” and denote some object. I will first reconstruct Russell’s account, which argues that that all definite descriptions are in reality a series of propositional statements and claims. I will then reconstruct Strawson’s account and claim that Russell’s account is flawed because it focuses…

Business and Organisation Structures TASK 1 There are different types of businesses. Some of them are Sole Traders, Partnership businesses and Limited companies. Sole Traders are the types of organization which is run by a sole owner. There is one person in charge. The sole trader takes the decision of expanding the business, how to operate and what kind of service to provide. The benefits of sole traders is that the owner gets all the profit and have total control on how to run the business.…

The Franklin Business and Commerce Code §121 allows for an exception to the general rule of non-liability when a “party which acquires a manufacturing business and continues the output of its line previously manufactured or distributed by the entity from which the business was acquired.” If the Folke Corporation meets these two elements, then they can be held liable for Mr. Regan’s injuries. These two elements are: (1) “the virtual destruction of the plaintiff’s remedies against the original…

all expectations our customers have. Here at Sunshine Flower Shop we guarantee customer satisfaction with our professionalism that comes with a spot on attention to detail, affordable prices and on time delivery. Sole proprietor is the business entity that is best for my business, since I will be the owner and be managing the shop. “Honor the Lord with your wealth and with the firstfruits of all your produce” Proverbs. 3:9 I believe that being a sole proprietor and Christian will help my…

Salomon set out the principle of a company having a separate legal personality from its members. Encouraging investors to provide money for businesses without the threat of liability. This increased the country’s economic prosperity with the assurance of limited liability . The effect created a metaphoric veil to show a distinct legal personality and limited liability. This essay will be discussing the current approach by courts and whether specific rules should be laid down. There is a…

Ultra Vires is a Latin word which literally means, ‘beyond the power’. In legal parlance it is used to describe when a person, whether natural or artificial, or a body have acted beyond the power granted to them by law. This phrase is widely used in different branches of law; in Administrative law it is mainly used with respect to an administrative body. In Criminal law it is used with respect to law enforcement agencies, in Company law it is used with reference to the corporate capacity of a…

As a corporation, Tilly’s business would be a separate legal entity, which exists separate from her personal interests. Thus, this business form would give her the most liability protection from corporate debts and obligations. It also provides the advantages of unlimited life, transferability of shares and the ability…