Asked by
parteek sandhu
on Nov 01, 2024
Verified
If NEWCo.was not properly incorporated,but the owners believed they had a valid corporation,NEWCo may qualify as a corporation by estoppel.
Corporation by Estoppel
A legal doctrine that prevents a person from denying the corporate existence of an entity when they have treated it as a corporation.
Properly Incorporated
Refers to a company or entity that has been legally established and registered under the laws of its jurisdiction.
Valid Corporation
A legal entity that is properly incorporated under the laws of its jurisdiction, providing its owners with limited liability.
- Analyze the consequences of failing to adhere to legal formalities in the incorporation process, including the concepts of de facto and de jure corporations.
Verified Answer
WM
Learning Objectives
- Analyze the consequences of failing to adhere to legal formalities in the incorporation process, including the concepts of de facto and de jure corporations.