Business Organization

Business Organization - Business Organization - elements of...

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Business Organization - elements of business organization in Canada
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Based on the English common Law System in the 9 common law provinces and territories - very rigid - specific remedies available in only certain circumstances - monarch could provide a more equitable outcome - - English courts of equity developed as a separate system The Canadian Legal System - Equity: - Denotes a spirit of fairness, justness, and right dealing - - Grounded in the precepts of conscience - two systems (Common Law and Courts of Equity) were combined - Called the Common Law System -> Canadian common law system
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Sole Proprietorship: - personal responsibility, profit Partnership: - group responsibility/profit Corporation: - the business is a distinct en - "fictitious person" concept - the corporate entity can - liability is "limited" t corporation Business Organizations
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Salomon vs. Salomon & Co. Ltd.: - Issue: Did Salomon ran unsecured creditors? English court of appea obtain preference over un - on appeal, House of Lord corporate existence dis since there was no evidence deceive or defraud." Independence of C Identity
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Fern Brand Waxes, Ltd. vs. Pearl: - Pearl transferred unauthorized fund companies he controlled. Court: ". .. defendant should not b profit from his breach of trust." Nedco Ltd. vs. Clark et al.: - Nedco, wholly owned subsidiary of Northern Electric Company Limited, created division of Northern. - employees of Northern picketed Nedco
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Business Organization - Business Organization - elements of...

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