Discuss the legal responsibilities and liabilities of directors and officers in a corporation. What fiduciary duties do they owe to the company and its shareholders? What are the potential legal consequences for breaching these
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Discuss the legal responsibilities and liabilities of directors and officers in a corporation. What fiduciary duties do they owe to the company and its shareholders? What are the potential legal consequences for breaching these duties?
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- Every corporation must identify a specific person as an agent to receive legal documents on behalf of a corporation?Josue is part of a business entity in which the parties are protected against personal liability for business debts. What type of business entity is this? Is it able to be registered as a brokerage? It is an LLC. It may be registered as a brokerage. It is an LLC. It may NOT be registered as a brokerage. It is a corporation. It may be registered as a brokerage. It is a corporation. It may NOT be registered as a brokerage.. Explain what constitutes an act of bankruptcy according to canadian law
- Discuss the powers and duties of Directors and Company SecretaryForms of business ownership refer to the legal structures under which a business operates. There are several types of business ownership, including sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). Each form of ownership has its advantages and disadvantages, and the choice of the form of ownership depends on various factors such as liability, taxation, and management structure.Critically evaluate the relevance of the advantages and disadvantages in light of current trends and developments in the business environment.Explain how the income of corporations is double taxed and what a corporation can do to minimize their tax burden?
- While tax-exempt entities are indeed generally exempt from paying Federal income tax, they must operate in ways that guarantee that they remain in compliance with tax laws governing their tax-exempt status. List and explain steps tax-exempt entities must take to protect their tax-exempt status.Discuss the consequences of incorporation of a company and elaborate oh how different groups Such as shareholders creditors and diare affectedWiener Haus #82 has been underperforming for a few years. The franchisee (owner of Haus #82) is frustrated and files a claim against the franchisor for breach. The franchisee claims that the agreement he signed contained a statement at the start of the agreement detailing that the business model the franchisor developed was "proven effective and profitable." On these facts, does the franchisee have a winning breach of contract claim against the franchisor? O No, the contract formed was a voidable contract. Thus, the franchisor is void of responsibility if the business model does not produce profit for the franchisee. O Yes, the franchisee relied on these statements when deciding to contract and thus the franchisor should be responsible when the business model fails to work for the franchisee. O No, courts have generally held that the type of language relied upon by the franchisee is "prefatory" and does not create a duty on the part of the franchisor. O Yes, the money paid to the…