Ch16_3e - 16-1Copyright 2007 by Nelson, a division of...

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Unformatted text preview: 16-1Copyright 2007 by Nelson, a division of Thomson Canada Limited.CANADIAN BUSINESS CANADIAN BUSINESS AND THE LAWAND THE LAWThird EditionThird EditionbybyDorothy Duplessis Steven Enman Shannon OByrne Sally GunzPresentation prepared by Presentation prepared by Allan Elliott, Southern Alberta Institute of TechnologyAllan Elliott, Southern Alberta Institute of Technology16-2Copyright 2007 by Nelson, a division of Thomson Canada Limited.CHAPTER SIXTEENCHAPTER SIXTEENTHE CORPORATE FORM: THE CORPORATE FORM: OPERATIONAL MATTERSOPERATIONAL MATTERSOBJECTIVES:The liabilities of a corporationThe duties and liabilities of corporate directors and officersThe rights and liabilities of shareholders and creditorsHow the corporation is terminated16-3Copyright 2007 by Nelson, a division of Thomson Canada Limited.OPERATIONAL MATTERSOPERATIONAL MATTERSCORPORATE LIABILITYliability in tort primary liability and vicarious liabilityprimary corporation is regarded as the entity that actually committed the tort in questionidentification theory a corporation is liable when the person committing the wrong is the corporations directing mind16-4Copyright 2007 by Nelson, a division of Thomson Canada Limited.OPERATIONAL MATTERSOPERATIONAL MATTERSCORPORATE LIABILITYvicarious liability corporation is liable when the tort has been committed by an agent or employee who is not otherwise a directing mindsame principle applies whether a natural employer a human being, or an artificial employer a corporation16-5Copyright 2007 by Nelson, a division of Thomson Canada Limited.OPERATIONAL MATTERSOPERATIONAL MATTERSCORPORATE LIABILITYliability in contract agency lawoutsiders can now generally rely on the apparent authority of agents the corporation would be liable on the contractcontracts signed on behalf of the corporation should clearly indicate that the person is signing on behalf of the corporation, and is not signing in her personal capacity 16-6...
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Ch16_3e - 16-1Copyright 2007 by Nelson, a division of...

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