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In some cases the successor takes up the full role of the previous office-holder, as in the case of the presidency of many countries; in other non-hereditary cases there is not a full succession, but a caretaker chosen by succession criteria assumes some or all of the responsibilities, but not the formal office, of the position.
In law, successor liability is liability (debt or other obligation) that is inherited by a successor entity after a corporate restructuring. Here, ‘successor’ refers to the entity that exists after the restructuring. ‘Restructuring’ refers to any action that alters the identity or character of a business entity (e.g. a merger).
In the United States, a designated survivor (or designated successor) is a person in the presidential line of succession who is kept distant from others in the line when they are gathered together, to reduce the chance that everyone in the line will be unable to take over the presidency in a catastrophic or mass-casualty event.
The scope of an agent's powers depends on both the type of POA you use and the terms outlined within it, so it's important to take special care when drafting any power of attorney document.
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party. [1]
In the case of a merger, the surviving organization is the legal successor to the others in respect to liability. [1] In the case of dissolution without assigning a legal successor, the funds and assets of the dissolved entity may be granted to other entities. The latter entities are not legal successors, but simply as grantees of the mentioned ...
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
The $19.99/month starter plan includes unlimited calls and texts, but jumping to the Basic plan ($24.99) adds Urgent Response — 24/7 live agents who can help in an emergency — and Lively Link ...