LAWS 3201 Study Guide - Midterm Guide: Eugene Melnyk, Pierre Dorion, Tom Anselmi
9 Feb 2018
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Has unlimited personal liability for all the obligations of the business (e. g. rent, debts, taxes, etc. It comes into existence when two or more people carry on business together with a view to a profit. Corporate law: corporate law encourages management accountability by: Mgt. "s fiduciary duty (to the corp. ) and duty of care. In small corporations (e. g. 2 5 shareholders) shareholders and managers may be the same people ( wearing" several hats), but their roles and responsibilities are legally distinct: shareholders have: A financial interest in the corp. (by their shares) The right to vote to elect directors to manage the corporation"s business. Hst: & sens souvenirs, city prop. taxes. Managers: tom anselmi - team president (salary and bonus - 337$ - if applicable, pierre dorion general manager (salary and bonus - 337$ - if applicable) Owner: eugene melnyk is the owner (i. e. shareholder of the corporation which owns the nhl.
