LAW 122 Study Guide - Midterm Guide: Canada Business Corporations Act, Numbered Company, Search Report
20 Feb 2016
School
Department
Course
Professor
Document Summary
A legal person, with a separate legal existence from its directors, shareholders, and officers. Directors: responsible for managing or supervising the management of the corporation business and its internal affairs. Shareholders: residual claimants to the assets of the corporation and elect directors. Shares: represent a claim on the residual value of the corporation after the claim of all creditors have been paid. Officers: appointed by directors and usually exercise substantial management powers delegated by directors. The minimum number and maximum number of directors that the corporation may have. The total number of shares and the classes of shares that the corporation is authorized to issue. Any restrictions that may be imposed on the transfer of shares. The objects or purpose of the corporation and any restrictions on the corporation"s activities. The registered office address of the corporation. Governed by laws of jurisdiction of incorporation--> provincial or federal.
