ENV 1101 Lecture Notes - Lecture 7: Sole Proprietorship, Legal Personality, Walmart
30 Mar 2016
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No distinction in law from the owner of the business and the business itself. Ex: family business, father and son business. Two or more legal persons carry on business with the view to profit. Physical human or a corporation (ex: wal-mart) Corporations are an abstract person, not a human person. Business association that is recognized in law to separate and distant from individuals (shareholders) who own the corporations. Corporations becomes a legal person (with rights and duties) Important in environmental protection because : size: corporations are usually larger than other forms of businesses. Which comes with bigger capacity to cause environmental harm. : shareholders own the corporations; they are: veil of incorporation, acting through agents shielded from the acts of the corporations. They are separate and distant from the corporation. (direct and vicarious liability) : corporations cannot do anything on its own. When you have a corporation, it needs an agent to act.
