Welcome

Anti Essays offers essay examples to help students with their essay writing.

Sign Up

Business Law1 Essay

Open Document

Below is an essay on "Business Law1" from Anti Essays, your source for research papers, essays, and term paper examples.

The history of the corporation
[2.10] The derivation of the modern company

• Introduction

o A corporation is an organisational structure that facilitates the raising of finance for business activity from those with capital for investment but no interest or capacity for management of that business
o Creditors are people who are owed money
o Liquidators are sometimes is the company, or sometimes an agent for the company
o In the 20th century the company emerged as dominant form of business association in western society

• The recognition of corporate persons

o A registered company formed under companies legislation is the pre-eminent modern form of the corporation
o Concept of a ‘corporate person’ (as opposed to a natural person) was becoming naturalised in our law at end of the 15th century
o The earliest development in the new law of the incorporate person was in canon law from associations in which property of church was vested
o Incorporation slowly began to be recognised in common law and other groups which had nothing to do with the church i.e. universities, and boroughs – most important from the view of development of legal doctrine
o Recognition of the corporate person introduced many problems including one of classification  in the 15th – 18th centuries, there were 2 main groups
o Corporations aggregate: most important class, consisted of many persons united into one society and kept up by perpetual succession of members i.e. mayor and commonalty of a city, dean and chapter of cathedral church
o Corporations sole: consisted of one person only and his successors i.e. king, bishop, some deans
o Recognition of the existence of an incorporate person also involved recognition of three main principles:
o A corporation is a person distinct from its members
o Property of the corporation is distinct from property of its members
o Property of its members cannot be taken in execution for debt of corporation and vice versa

• Boroughs and...

Show More


Citations

MLA Citation

"Business Law1". Anti Essays. 10 Dec. 2018

<http://parimatchstavki7.com/free-essays/Business-Law1-506541.html>

APA Citation

Business Law1. Anti Essays. Retrieved December 10, 2018, from the World Wide Web: http://parimatchstavki7.com/free-essays/Business-Law1-506541.html