BU231 Chapter Notes - Chapter 29: Market Manipulation, Criminal Negligence, Strict Liability
Document Summary
Stakeholders groups affected by the business activities of a corporation. Regulatory offences less-serious offences created by government regulation through specialized legislation, agencies, and tribunals. Mens rea offence an offence where the prosecution must establish a guilty mind on the part of the defendant. Strict liability an offence where there is a presumption of guilt unless the defendant can show that he or she took reasonable care. Absolute liability offence an offence where the absence of fault is no defence. When an unincorporated business becomes insolvent, the creditors are entitled to whatever assets are available. If a deficiency remains, they may look to the personal assets of the sole proprietor or partners. However, in a corporation, a creditor"s right are limited to the assets held by the corporation. Reduction of capital writing down (reducing) the stated amount of a corporation"s capital.
