ADMS 2610 Lecture Notes - Uberrima Fides, Absolute Liability, Toxic Waste

• School: York University
• Department: Administrative Studies
• Course: ADMS 2610
• Professor: William Pomerantz

Document Summary

A type of legal entity created by the state. Existence in law is separate from those who form it (limited liability) A person in the eyes of the law with similar rights and responsibilities th. If company goes bankrupt the shareholders only loise investments in corporation and not personal assets. Existence at law, but not material existence. Rights and duties set forth by law. Corporations aren"t alive and can"t sign a contract for themselves. Get a director (agent) to sign it shareholders have limited liability. A person who holds a share of interest in a corp. We don;t have much say in way ontario is run. Under corporation law, a person elected by shareholders to manage its affairs. A person elected or appointed by the directors to fill a particular office (president, secretary, etc. ) Shareholders elect directors and directors appoint officers.