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De facto corporation and corporation by estoppel are both terms that are used by courts in most common law jurisdictions to describe circumstances in which a business organization that has failed to become a de jure corporation (a corporation by law) will nonetheless be treated as a corporation, thereby shielding shareholders from liability. [1]
[[Category:Florida templates]] to the <includeonly> section at the bottom of that page. Otherwise, add <noinclude>[[Category:Florida templates]]</noinclude> to the end of the template code, making sure it starts on the same line as the code's last character.
Corporate law is often divided into corporate governance (which concerns the various power relations within a corporation) and corporate finance (which concerns the rules on how capital is used). Directors also owe strict duties not to permit any conflict of interest or conflict with their duty to act in the best interests of the company.
An initial inquiry into the causes of the 2008 financial crisis (2009) 9(1) Journal of Corporate Law Studies 1; C Hansen, Other Constituency Statutes: A Search for Perspective (1991) 46(4) The Business Lawyer 1355; Henry Hansmann and Reiner Kraakman, Towards Unlimited Liability for Corporate Torts, 100(7) Yale Law Journal 1879 (1991)
An ordinary corporation may change to a benefit corporation merely by stating in its approved corporate bylaws that it is a benefit corporation. [ 2 ] A company chooses to become a benefit corporation in order to operate as a traditional for-profit business while simultaneously addressing social, economic, and/or environmental needs. [ 3 ]
Strata title was developed in Australia and by-laws of body corporate are also empowered by state legislation. [6] Many people come into contact with strata by-laws on a regular basis, since they affect what people living in strata title housing can do in their homes. [7] The most well-known of these is the "no pets in flats" rule. [8] [9]