Business Law - RCCC
Terms
undefined, object
copy deck
- fiduciary
- special relationship with high standards
- minute book
- records of shareholder meetings and director's meetings are kept in the corporation's minute book
- agency at will
- make no agreement in advance about the term of the agreement, either principal or agent can terminate at any time
- domestic corporation
- a corporation is a domestic corporation in the state in which it was formed
- consent
- mutually agree the principal gives permission for the agent to act on his behalf
- Offering circular
- must comply either with FTC rules or with the provisions of the Uniform Franchise Offering Circular
- self-dealing
- a manager makes a decision benefiting either himself or another company with which he has a relationship
- bylaws
- document that specifies the organizational rules of a corporation or other organization such as the date of the annual meeting and the required number of directors
- joint venture
- a partnership for a limited purpose
- limited liability companies
- offers the limited liability of a corporation and the tax status of a partnership
- quorum
- the number of voters that must be present for a meeting to count
- treasury stock
- stock that has been bought back by its issuing corporation
- proxy
- a person whom the shareholder designates to vote in his place, the wrriten form that the shareholder uses to appoint a designated voter
- business trusts
- an unincorporated association run by trustees for the benefit of investors
- cooperatives
- groups of individuals or businesses that join together to gain the advantages of volume purchases or sales
- agent
- someone who agrees to perform a task for someone else
- indemnify
- reimburse the agent for any expenses she has reasonably incurred
- close corporation
- a company whose stock was not publicly traded on a stock exchange
- principal
- someone who has control of someone else