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    corporations pdf law school

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    27 views4 pages

    Corporations

    Uploaded by

    MissPardis
    corporations pdf law school

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 4
    CORPORATIONS ORGANIZATION AND FORMATION OF CORPORATIONS (cope, er, at) "A. Corporation nt property formed (discussant de jure facto are coporsionty estopee) 8 Unpaid stock C Wotered stock DL Promoters Promotrs ae avays lable unl her isa novation 1B. Comorationte never table wl three adpbon 1. CAPrraL stock stRUCTURE ‘A. Subscription Agreomonts(ovccabily) B. Consideration fr stock ‘2 Tracivona "0: Money pai, hor dove, propery received 1B. Moder Tanabe or rxangbe property or bortt Promissory notes At Conast or tre services (6. Redemptions and repurchases of stock li, STOCK TRANSACTIONS ‘A. Contoling SH State ("Common Law") Libis ‘2 Coreoling SH must relia Kom oblavng a sonia advartage or © cause corto take action peut minary Sis, 6 re tested 25"Inaers” under the Secures Exchange Ac. e ‘Ncortroling SH can cel hor call interest at a promium, but she owes a dutta T "Noto sllto looters. Duy to make easonabeInvesigaiono he buyer (rt: ote) i Disguised sae of corporate suse The conroling SH hab re ngit io sala soporate asset Phe does, af ‘Hs shoul shave inthe premiam. hr. buyer paying premium fo get corporate eset) Sale of board peaton:A faurary canna get pido relnqush Fer board poston though fs OK forthe new cortolng SH fo act rew drecrs. 11 FRomedy: Dagorgemar of he ot. 18 Contain SH cannot oppress minority Sis 4. Close corp Ep Ina close comp, coute may protect mirosty SHs bs no pble mara othe tock. i Froud Ct raucmay sop to maropreconaton into sae soc allng sul bythe dra buyer of elon. Ts ‘overs over es, ut ht hath ofa to dscose, Common tsw Buty i Aftimative duty te dislocute of “special fats” pan Os and Osin secures transscton wih a SH or maybe even noSis)and i. Genoa roqured py’ compared to vansactons cred out on sock exchanges. i Sota are ose reasonable menor would conser mponartinmaieganmestnat deen. (TH ‘= Clinger asa Sivan inser dea cansue. Some sy a prospective Hay sue “Inne date, te compotion can cus ine sca recover protec Maden markt Facing on inser Wi Damages = lee bt the pie paar the vali he sock a a enson ele me ale pubic scbsie sit Tortot aud or merepresentation 1D. Federal Rut ‘Obs ar "Genet Ue. SEC Rule 106 rates ititega or any person to se hy mers o istunentay ol inersate commerce 1 se ay face stem in omen vin in puchasecr sai ny sur Prt show "inarumentalites of ntraate commerce i Frauen conduc: nes ang 2 ate wisatemes of ah of mating a mate onesion lat In ‘tr to quatly as rauddons the solomon fut Rave boon rage wth natn aca (Sct). MairiaityA statement or onson's material thre sa subsatbal eto et @fasonable Investor woul corse ® nacessaw or nga i making an veset decsion 2. ‘Scenter:Dotendan mus rave ert to. deca, manus or dtaud. Reckbsenes ao nutn may aco conte stort bu ro eatapr i Inconnection withthe purchese o ale fa Security by AN acu alo sacuty mst ake place fora ». Adsioraroquomerts for a aivate lait (ve. the SE) i Rellance. Ps prove she acal eid on the materia isstatemert ot omission i Damages: P must prove tat sho sustained monetary damages a esto he mater mistaterent +” amages = ierenc bt the pce pid or receved, ae he average share pcsin the 90 day period 8 Insider Trading 2. Pl 100-5 also profits rag secuties onthe basis of nse information. A person volutes Rue 10b-5 If by racing he ‘broacres a Gly ol Wt and comdenoe owed a (Ihe SURE (2) Sharada ofthe suer oS} nthe case ot iissoprecriten.‘esnotfer parcon no isthe source of tre mata noreuble intrmaton be. Who maybe table TP Inder sre people who breach act nt fo ut ride ino for parzonalbenett, (ag, drectrs offers, someye) iu Tippers are irvidials wio give tis of rede info to someone else wha tas on he basis ol suchinta, Toppers _xeliabie tn ip was made for ary mores purpose. +P “Tipe of inide Into te tip made? Wrst wae the isi" no?) 2. Improper purpose. n exchange formaney, asa gf, tor areptational bene, ee Tees ar abt he fan sche ard pe uae tp wes easy mayan aceon tnt. CORPORATIONS Ih. Misappropriation: Under 106-5 2, apersn canbe prosocited by the government or tang on market Infomation atveach ata dit oust and confidence owed to te sulce ote nfomraion. The duty need rot ‘be onedto the sever 07 snarls of he eter ‘Defendants nota tue ice wine iduclay du, buts typically al lawyer, aocourtar or someore ‘ao sees te fo by vite of having 9 lose rises wits companys insides They dont Fave atducry try, bur they nave 2 au of wus or coeianoe'e the compay (by tha Wi of Pair ‘employment which suggests thy kom a keep can io on einige. k woul be mssppropraon tovwe tha io, © Seeton 19) “he soon applet ply tas cotporatione (1) wth more than $10 millon in aseae ans 500 oF more SMe oF(2) whose shares ae traded on a moral exchange % Ganera Re: Socion 1) roves abit acaba ha omar otis ary Ds 8, and 10% Shs fom an purchase and sab. orsab and pucase, of company’s sock wit €-mo-th gerd The delonsard must be 1 "aciactor when ether when she bought aro, i Anafhiersther when she Bought ors ii, A'SH owning mare tan 10% bath blared ae purchase and ale 1 The Sis classed by her Ownership lve nrtaly Crore the purchaso or sale Ih. Tho vansacton mut be buying and eling company tock 6. equ secures) witin aslo sx roth pred 44 Recoverable profits is Getrmined by matching the highest sales pice aga! the lowest purchase prce for ary G-romth 1v. piRecToRs ‘A. Slalutory Requirements for Directors “Number of drectors “os cr more adult persons 1. Election = De a laced by Shea ine anual meeting. © Removal~-Stis can remeve Ds before ta terms exeby a malo of shares ene to ote wih or wie cause. ‘Vacancies ~ General the board ar Ss selects the person i he vacancy. 4. Board action— abcarscan oko val act ter by (a Uranmaus Hele corset act we a mening or(2) 2 ‘moeinathel sates quorum and voting vequroments. nater (1 or (2) met the ais void un {T Notesrequremenis fr O's mastrg can be sen bysas. Noboe is usualy raquted for special (not regu) rocings, bl fluro ve note can be waived I wring or by attending weno obecton | Quorum for meetings ~ A majoy of al Greco is euted (aries the by'awsprowde otherwise), ta quorum 'Stesort ata mos, pasting a fosohtton rogues ony a aly vale 0! hase pasar "tthe 79 quorum, any cson tkan void los aie by avahd sx. 2. Quorum ofthe board con be ost Coke’ poopie eave. ard the Board cannot ike acon. i Proxies or voting agreements se void and against pubic potey. De must have indopancert usoment 8. Roles of Directors ‘Generally, tne BO manages th business of corporation. Committees: rhe Board can delegate sustarnal management unstons to a commits (composed of anor more Os), ‘ut the commtos cannot amond baie, declare dividends, 1 rosommend a udamertal corporate change to tho See ©. Duty of care:"A director owes the comporion a day of care 1 at ngaod init a an acinary prudent psa wou Inthe same toumstanes, and forthe bes ievesLof tbe cosoraon”(P fas the burden) 12 The uty canbe beached trough norfaagarec, the D dooe noting, the Dis able this broach caueodsa loeeto the

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