Class 9 Corporations_bb pt 2

Class 9 Corporations_bb pt 2 - Corporations Business...

Info iconThis preview shows pages 1–14. Sign up to view the full content.

View Full Document Right Arrow Icon
Corporations Business Organizations
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
For Today Overview and comparison to partnerships The Formalities of Creating a Corporation Piercing the corporate veil Walkovszky v. Carlton Sea Land v. Pepper Source
Background image of page 2
Partnerships v. Corporations Partnership Corporation Formation Limited Liability Free Transferability Continuity Centralized Management Cost Default Rules Flexibility Tax
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability Free Transferability Continuity Centralized Management Cost Default Rules Flexibility Tax
Background image of page 4
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability No Yes Free Transferability Continuity Centralized Management Cost Default Rules Flexibility Tax
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability No Yes Free Transferability No Yes Continuity Centralized Management Cost Default Rules Flexibility Tax
Background image of page 6
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability No Yes Free Transferability No Yes Continuity At will Indefinite Centralized Management Cost Default Rules Flexibility Tax
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability No Yes Free Transferability No Yes Continuity At will Indefinite Centralized Management No; each partner an agent Yes Cost Default Rules Flexibility Tax
Background image of page 8
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability No Yes Free Transferability No Yes Continuity At will Indefinite Centralized Management No; each partner an agent Yes Cost None Filing fees; legal fees Default Rules Flexibility Tax
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability No Yes Free Transferability No Yes Continuity At will Indefinite Centralized Management No; each partner an agent Yes Cost None Filing fees; legal fees Default Rules Extensive More extensive Flexibility Tax
Background image of page 10
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability No Yes Free Transferability No Yes Continuity At will Indefinite Centralized Management No; each partner an agent Yes Cost None Filing fees; legal fees Default Rules Extensive More extensive Flexibility Great Less so Tax
Background image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Partnerships v. Corporations Partnership Corporation Formation Informal; UPA Formalities required; Limited Liability No Yes Free Transferability No Yes Continuity At will Indefinite Centralized Management No; each partner an agent Yes Cost None Filing fees; legal fees Default Rules Extensive More extensive Flexibility Great Less so Tax Single; losses can be used by partners Double on distributed earnings; losses only usable by corporation
Background image of page 12
The Corporation Advantages of corporation over partnerships
Background image of page 13

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 14
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/18/2011 for the course LAW 700 taught by Professor Kim during the Spring '10 term at USC.

Page1 / 43

Class 9 Corporations_bb pt 2 - Corporations Business...

This preview shows document pages 1 - 14. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online