Juridical Dictionary

This dictionary contains:
8526
juridical terms

Corporation




Corporation

A legal entity, allowed by legislation, which permits a group of people, as shareholders (for-profit companies) or members (non-profit companies), to create an organization, which can then focus on pursuing set objectives, and empowered with legal rights which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money. Also known as a "company." The primary advantage of for profit corporations is that it provides its shareholders with a right to participate in the profits (by dividends) without any personal liability because the company absorbs the entire liability of the organization.

RELATED TERMS
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Legal
That which is according to law. It is used in opposition to equitable, as the legal estate is, in the trustee, the equitable estate in the cestui que trust.

Entity
A person or legally recognized organization.

Legislation
Written and approved laws. Also known as "statutes" or "acts." In constitutional law, one would talk of the "power to legislate" or the "legislative arm of government" referring to the power of political bodies (eg: house of assembly, Congress, Parliament) to write the laws of the land.

People
A state.

Members
English law. Places where a custom-house has been kept of old time, with officers or deputies in attendance; and they are lawful places of exportation or importation.

Property
Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.

Hire
"Contracts. A bailment, where a compensation is to be given for the use of a thing, or for labor or services about it. The contract of letting and hiring is usually divided into two kinds; first, Locatio, or Locatio conductio rei, the bailment of a thing to be used by the hirer, for a compensation to be paid by him. Secondly, Locatio operis, or the hire of the labor and services of the hirer, for a compensation to be paid by the letter.

Loan
1) A loan in general implies that a thing is lent without reward; but, in some cases, a loan may be for a reward; as, the loan of money. 2) Contracts. The act by which a person lets another have a thing to be used by him gratuitously, and which is to be returned, either in specie or in kind, agreeably to the terms of the contract. The thing which is thus transferred is also called a loan.

Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.

Primary
That which is first or principal; as primary evidence, or that evidence which is to be admitted in the first instance, as distinguished from secondary evidence, which is allowed only when primary evidence cannot be had.

Right
1) Sometimes it signifies a law, as when we say that natural right requires us to keep our promises, or that it commands restitution, or that it forbids murder. In our language it is seldom used in this sense. 2) It sometimes means that quality in our actions by which they are denominated just ones. This is usually denominated rectitude. 3) It is that quality in a person by which he can do certain actions, or possess certain things which belong to him by virtue of some title. In this sense, we use it when we say that a man has a right to his estate or a right to defend himself.

Profits
In general, by this term is understood the benefit which a man derives from a thing. It is more particularly applied to such benefit as arises from his labor and skill.

Without
Pleading. This word is adopted in formal traverses, and is a negative signifying "and not for;" accordingly the language of the elder entries sometimes is, It et nemy pur tiel cause.

Personal
Belonging to the person.

Liability
A person or organization's extent of responsibility for a loss. An item of value that is part of the overall debt or obligation of a person or business.

Company
An association of a number of individuals for the purpose of carrying on some legitimate business.

Entire
That which is not divided; that which is whole.



SIMILAR TERMS
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Corporal
1) An epithet for anything belonging to the body, as, corporal punishment, for punishment inflictedon the person of the criminal; corporal oath, which is an oath by the party who takes it being obliged to lay his hand on the Bible. 2) In the army. A non-commissioned officer in a battalion of infantry.

Corporal punishment
A punishment for some violation of conduct which involves the infliction of pain on, or harm to the body. A fine or imprisonment is not considered to be corporal punishment (in the latter case, although the body is confined, no punishment is inflicted upon the body). The death penalty is the most drastic form of corporal punishment and is also called capital punishment. Some schools still use a strap to punish students. Some countries still punish habitual thieves by cutting off a hand. These are forms of corporal punishment, as is any form of spanking, whipping or bodily mutilation inflicted as punishment.

Corporal touch
It was once decided that before a seller of personal property could be said to have stopped it in transitu, so as to regain the possession of it, it was necessary that it should come to his corporal touch.

Corporate secretary
Officer of a corporation responsible for the official documents of the corporation such as the official seal, records of shares issued, and minutes of all board or committee meetings.

Corporate veil
Corporate personality has been firmly established in the common law since the decision in Salomon v Salomon,whereby, a corporation has a separate legal personality, rights and obligations totally distinct from those of its shareholders. Legislation and courts nevertheless sometimes "pierce the corporate veil" so as to hold the shareholders personally liable for the liabilities of the corporation. Courts may also "lift the corporate veil", in the conflict of laws in order to determine who actually controls the corporation, and thus to ascertain the corporation's true contacts, and closest and most real connection.

Corporator
One who is a member of a corporation.

Corporeal hereditament
Such thing as affects the senses, as may be seen and handled.

Corporeal property
Civil law. That which consists of such subjects as are palpable. In the common law, the term to signify the same thing is properly in possession.

Corpse
The dead body of a human being

Corpus
A Latin word, which signifies body.

Corpus comitatus
The body of the county; the inhabitants or citizens of a whole county, used in contradistinction to a part of a county, or a part of its citizens

Corpus cum causa
Practice. The writ of habeas corpus cum causa is a writ commanding -the person to whom it is directed, to have the body, together with the cause for which he is committed, before the court or judge issuing the same.

Corpus delicti
The body of the offence; the essence of the crime

Corpus juris canonici
The body of the canon law. A compilation of the canon law bears this name.

Corpus juris civilis
The body of the civil law. This, is the name given to a collection of the civil law, consisting of Justinian's Institutes, the Pandects or Digest, the Code, and the Novels.



PREVIOUS AND NEXT TERMS
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Corporal
1) An epithet for anything belonging to the body, as, corporal punishment, for punishment inflictedon the person of the criminal; corporal oath, which is an oath by the party who takes it being obliged to lay his hand on the Bible. 2) In the army. A non-commissioned officer in a battalion of infantry.

Corporal punishment
A punishment for some violation of conduct which involves the infliction of pain on, or harm to the body. A fine or imprisonment is not considered to be corporal punishment (in the latter case, although the body is confined, no punishment is inflicted upon the body). The death penalty is the most drastic form of corporal punishment and is also called capital punishment. Some schools still use a strap to punish students. Some countries still punish habitual thieves by cutting off a hand. These are forms of corporal punishment, as is any form of spanking, whipping or bodily mutilation inflicted as punishment.

Corporal touch
It was once decided that before a seller of personal property could be said to have stopped it in transitu, so as to regain the possession of it, it was necessary that it should come to his corporal touch.

Corporate secretary
Officer of a corporation responsible for the official documents of the corporation such as the official seal, records of shares issued, and minutes of all board or committee meetings.

Corporate veil
Corporate personality has been firmly established in the common law since the decision in Salomon v Salomon,whereby, a corporation has a separate legal personality, rights and obligations totally distinct from those of its shareholders. Legislation and courts nevertheless sometimes "pierce the corporate veil" so as to hold the shareholders personally liable for the liabilities of the corporation. Courts may also "lift the corporate veil", in the conflict of laws in order to determine who actually controls the corporation, and thus to ascertain the corporation's true contacts, and closest and most real connection.

Corporation

Corporator
One who is a member of a corporation.

Corporeal hereditament
Such thing as affects the senses, as may be seen and handled.

Corporeal property
Civil law. That which consists of such subjects as are palpable. In the common law, the term to signify the same thing is properly in possession.

Corpse
The dead body of a human being

Corpus
A Latin word, which signifies body.

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This dictionary contains 8526 terms.







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