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Nevada Corporation
A Nevada corporation is a corporation incorporated under Chapter 78 of the '' Nevada Revised Statutes'' of the U.S. state of Nevada. It is significant in United States corporate law. Nevada, like Delaware (see Delaware General Corporation Law), is well known as a state that offers a corporate haven. Many major corporations are incorporated in Nevada, particularly corporations whose headquarters are located in California and other Western states. Piercing the veil Nevada law provides extremely strong protection against piercing the corporate veil, where a corporation's owners can be held responsible for the actions of a corporation. For instance, from 1987 to 2007, there was only one case that successfully pierced the corporate veil of a Nevada corporation, and in this case the veil was pierced due to fraud on the part of the corporation's owners. Because the provisions on "piercing the corporate veil" are corporate governance matters, if a corporation chartered in Californi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation
A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in Corporate law, law for certain purposes. Early incorporated entities were established by charter (i.e., by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through List of company registers, registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue share capital, stock, or whether they are formed to make a profit (accounting), profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this articl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Service
The Internal Revenue Service (IRS) is the revenue service for the Federal government of the United States, United States federal government, which is responsible for collecting Taxation in the United States, U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law. It is an agency of the United States Department of the Treasury, Department of the Treasury and led by the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States. The duties of the IRS include providing tax assistance to taxpayers; pursuing and resolving instances of erroneous or fraudulent tax filings; and overseeing various benefits programs, including the Affordable Care Act. The IRS originates from the Commissioner of Internal Revenue, a federal office created in 1862 to assess the nation's first income tax to fund the American Civil War. The temporary measure funded over a fifth of the Union's war expens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Types Of Business Entity
A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country. For guidance, approximate equivalents in the company law of English-speaking countries are given in most cases, for example: *private company limited by shares or Ltd. (United Kingdom, Ireland, and the Commonwealth) *public limited company (United Kingdom, Ireland, and the Commonwealth) *limited partnership * general partnership * chartered company *statutory corporation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nevada Law
Nevada ( ; ) is a landlocked state in the Western United States. It borders Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. Nevada is the seventh-most extensive, the 32nd-most populous, and the ninth-least densely populated U.S. state. Nearly three-quarters of Nevada's population live in Clark County, which contains the Las Vegas–Paradise metropolitan area, including three of the state's four largest incorporated cities. Nevada's capital is Carson City. Las Vegas is the largest city in the state. Nevada is officially known as the "Silver State" because of the importance of silver to its history and economy. It is also known as the "Battle Born State" because it achieved statehood during the Civil War (the words "Battle Born" also appear on its state flag); due to the presidency of Abraham Lincoln, the Union benefited immensely from the support of newly awarded statehood by the infusion of the m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancery Court
The Court of Chancery was a court of equity in England and Wales that followed a set of loose rules to avoid a slow pace of change and possible harshness (or "inequity") of the common law. The Chancery had jurisdiction over all matters of equity, including trusts, land law, the estates of lunatics and the guardianship of infants. Its initial role differed somewhat: as an extension of the lord chancellor's role as Keeper of the King's Conscience, the court was an administrative body primarily concerned with conscientious law. Thus the Court of Chancery had a far greater remit than the common-law courts (whose decisions it had the jurisdiction to overrule for much of its existence) and was far more flexible. Until the 19th century, the Court of Chancery could apply a far wider range of remedies than common law courts, such as specific performance and injunctions, and had some power to grant damages in special circumstances. With the shift of the Exchequer of Pleas towar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Case Law
Case law, also used interchangeably with common law, is a law that is based on precedents, that is the judicial decisions from previous cases, rather than law based on constitutions, statutes, or regulations. Case law uses the detailed facts of a legal case that have been resolved by courts or similar tribunals. These past decisions are called "case law", or precedent. ''Stare decisis''—a Latin phrase meaning "let the decision stand"—is the principle by which judges are bound to such past decisions, drawing on established judicial authority to formulate their positions. These judicial interpretations are distinguished from statutory law, which are codes enacted by legislative bodies, and regulatory law, which are established by executive agencies based on statutes. In some jurisdictions, case law can be applied to ongoing adjudication; for example, criminal proceedings or family law. In common law countries (including the United Kingdom, United States, Canada, Austral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Supreme Court
In the United States, a state supreme court (known by other names in some states) is the highest court in the state judiciary of a U.S. state. On matters of state law, the judgment of a state supreme court is considered final and binding in both state and federal courts. Generally, a state supreme court, like most appellate tribunals, is exclusively for hearing appeals of legal issues. Although state supreme court rulings on matters of state law are final, rulings on matters of federal law (generally made under the state court's concurrent jurisdiction) can be appealed to the Supreme Court of the United States. Each state supreme court consists of a panel of judges selected by methods outlined in the state constitution. Among the most common methods for selection are gubernatorial appointment, non-partisan election, and partisan election, but the different states follow a variety of procedures. Role and powers Under the system of federalism established by the United Stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Nevada
The Supreme Court of Nevada is the highest state court of the U.S. state of Nevada, and the head of the Nevada Judiciary. The main constitutional function of the Supreme Court is to review appeals made directly from the decisions of the district courts. The Supreme Court does not pursue fact-finding by conducting trials, but rather determines whether legal errors were committed in the rendering of the lower court's decision. While the Court must consider all cases filed, it has the discretion to send appeals to the Nevada Court of Appeals for final resolution, as well as the power to determine the jurisdiction of that court. There are seven Justices on the court, who are elected to six-year terms in officially nonpartisan elections and who are not subject to term limits, which were rejected by voters in 1996. The Governor appoints Justices in the case of a vacancy. The most senior justice becomes Chief Justice for a two-year term. History When Nevada was admitted to the fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conflict Of Laws
Conflict of laws (also called private international law) is the set of rules or laws a jurisdiction applies to a Legal case, case, Transactional law, transaction, or other occurrence that has connections to more than one jurisdiction."Conflict of Laws", ''Black's Law Dictionary'' (11th ed. 2019). This body of law deals with three broad topics: ''jurisdiction'', rules regarding when it is appropriate for a court to hear such a case; ''foreign judgments'', dealing with the rules by which a court in one jurisdiction mandates compliance with a ruling of a court in another jurisdiction; and ''choice of law'', which addresses the question of which substantive laws will be applied in such a case.Restatement of the Law—Conflict of Laws, ''§2: Subject Matter of Conflict of Laws'' (American Law Institute 1971). These issues can arise in any private law context, but they are especially prevalent in contract law and tort law. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Affairs Doctrine
The internal affairs doctrine is a choice of law rule in corporate law. Simply stated, it provides that the "internal affairs" of a corporation (e.g. conflicts between shareholders and management figures such as the board of directors and corporate officers) will be governed by the corporate statutes and case law of the state in which the corporation is incorporated,VantagePoint Venture Partners 1996 v. Examen, Inc.'' 871 A.2d 1108, 1112-1113 (2005). sometimes referred to as the ''lex incorporationis''. Practical effects of the doctrine The internal affairs doctrine ensures that such issues as voting rights of shareholders, distributions of dividends and corporate property, and the fiduciary obligations of management are all determined in accordance with the law of the state in which the company is incorporated. On the other hand, the "external affairs" of a corporation, such as labor and employment issues and tax liability, are typically governed by the law of the state in wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Jose, California
San Jose, officially the City of San José ( ; ), is a cultural, commercial, and political center within Silicon Valley and the San Francisco Bay Area. With a city population of 997,368 and a metropolitan area population of 1.95 million, it is the most populous city in both the Bay Area and Northern California and the List of United States cities by population, 12th-most populous in the United States. Located in the center of the Santa Clara Valley on the southern shore of San Francisco Bay, San Jose covers an area of and is the county seat, seat of Santa Clara County, California, Santa Clara County. Before the Spanish colonization of the Americas, arrival of the Spanish, the area around San Jose was long inhabited by the Tamyen people, Tamien nation of the Ohlone people San Jose was founded on November 29, 1777, as the ''Pueblo de San José de Our Lady of Guadalupe, Guadalupe'', the first city founded in the Californias. It became a part of Mexico in 1821 after the Mexican Wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
