Terms : Hide Images
| 9487313586 | Dividend | Money paid to shareholders | 0 | |
| 9487313587 | Insolvency | Being unable to pay one's debts | 1 | |
| 9493831233 | Types of Partnerships | 1. General 2. Limited 3. Limited Liability | 2 | |
| 9493834394 | Sole Proprietorship | A single owner with the sole responsibility of making decisions. | 3 | |
| 9493841577 | General partnership | When there are two or more persons with fiduciary duties to each other and each possessing the agency to act on behalf of the other person. | 4 | |
| 9493857373 | Limited partnership | Partnership designed to mitigate the pitfalls of a general partnership by reducing the liability of the people involved. | 5 | |
| 9493860668 | Partnership | Relationship subsisting between two or more persons carrying on business with a view to profit (s. 2 of Ontario Partnerships Act) | 6 | |
| 9493872035 | Limited Liability partnership | Greatest limits on liability here. | 7 | |
| 9493875932 | Business Corporation | A company characterized by its separate legal personality, limited liability, centralized management, perpetual life, and the transferability of shares. | 8 | |
| 9494200083 | Capital | Money or assets owned by a person or organization to be contributed to a specific cause, like starting a company or investing. | 9 | |
| 9494538895 | Sham doctrine | When a taxpayer tries to disguise a transaction and make it seem like something it's not ~ involving deceit ~ so the tax collector doesn't understand the true nature of the transaction [Stubart Investments Ltd] SCC by Justice Estey | 10 | |
| 9494808527 | Capital gains taxes [CGT] | Taxation on profit from the sale of a non-inventory asset that was greater than the amount realized on the sale. Usually sale of stocks, bonds, property, and precious metal. | 11 | |
| 9494841526 | Rollover provision | Allowing for the deferral of capital gains tax on the sale of a capital asset if the capital gain is reinvested within. | 12 | |
| 9495032966 | Winding up | Process of liquidating assets of corporation or partnership, settling accounts, paying debts, distributing remaining assets among shareholders or partners, and then dissolving the business. | 13 | |
| 9495226908 | Aggregate view of partnerships | As opposed to entities--divisible people or separate w/ a firm personality...? | 14 | |
| 9502539103 | Classes of Corporations [under Ontario Extra-Provincial Corporations Act] | Class 1 - province other than Ontario Class 2 - territory or federal corporation Class 3 - outside Canada | 15 | |
| 9502718402 | inter alia | among other things | 16 | |
| 9502735236 | Three-cornered amalgamation | When target company amalgamates with the subsidiary of a foreign buyer that was incorporated for the purpose of that amalgamation, from which resident shareholders receive exchangeable shares of the amalgamated company "which are exchangeable into the buyer." | 17 | |
| 9502929526 | Securities | Trade-able financial asset | 18 | |
| 9503059922 | Prospectus | Legal document providing information about an investment offering of sale to the public. | 19 | |
| 9503104228 | Closely-held corporation (CHC) | Limited number of shareholders, stock traded on occasion. | 20 | |
| 9503221401 | Fixed asset | Long-term tangible piece of property, plant, or equipment that a firm owns and uses to generate income not expected to be consumed or converted to cash within a year. Also known as capital assets. | 21 | |
| 9506014229 | Paid up capital | Amount received by a corporation from shareholders in exchange for shares of stocks. Created when company sells shares on the primary market, directly to investors. | 22 | |
| 9506041217 | Remit taxes | Send back. | 23 | |
| 9506481943 | Involuntary Creditor | 24 | ||
| 9506481944 | Voluntary Creditor | 25 | ||
| 9516584095 | Absolute prohibition on shares limited in time | May be valid if the time limit is reasonable + necessary in the circumstances with an ABSOLUTE cap at 5 years. | 26 | |
| 9516584096 | Consent restrictions on shares | No transfer is valid or effective until approved by directors or shareholders or both, or certain proportion of both. | 27 | |
| 9516603523 | Squeeze-out | Compulsory sale of shares of minority shareholders for which fair cash compensation is received (leaving the remaining shareholders in a position to dictate plan of merger). | 28 | |
| 9516669348 | First-option restrictions on shares | Must offer other shareholders shares @ specified price before selling to outside (other shareholders under no obligation to buy) | 29 | |
| 9516703206 | Special event restraints | At a special time or on the happening of a certain event one party offers shares to the others by a certain procedure and at a specified price. | 30 | |
| 9516738622 | Buy out restraint on shares contingent on death | Contingent on same events as special time or event buy-outs. But there is a binding requirement of other shareholders to buy shares. | 31 | |
| 9516742055 | Buy-sell agreement restraint on shares | Agreement between ALL shareholders that provides that on the death of a shareholder his executors must sell his shares to the remaining shareholders at a certain price and the shareholders must buy them. | 32 | |
| 9517258067 | Unanimous shareholder agreement | Requires restrictions on the powers of directors to manage or supervise management of business of corporation. | 33 | |
| 9518468061 | Breach of warranty for authority | 34 | ||
| 9518741976 | Ultra vires doctrine | Rule that one corporation, especially in memorandum jurisdiction, has no legal capacity to act in any way not specifically authorized by its incorporating documents. Can only act if it is within corporate powers. | 35 | |
| 9518957464 | Shell company | Inactive company used as a vehicle for financial maneuvers or kept dormant for future use. | 36 | |
| 9528107610 | Hedge fund | Limited partnership of investors using "high risk methods" (like investing on borrowed money) to produce large capital gains. | 37 |
