1. A Company is its own legal entity, separate from its owners and managers. 2. While there can be many benefits to creating a Company, the biggest single advantage is limited liability for the owners. 3. The owners of a Company are the shareholders who elect directors to operate and be responsible for the business. Those…
1. The person or company suing is called the “Plaintiff.” The person or company being sued is called the “Defendant.” 2. To enforce a debt collection, you will probably have to sue the person or company that owes you money. This process is called “Litigation.” 3. If you are sued, you usually only have 20…
Marshall’s scream shattered the peace of the house. “I don’t believe it,” he yelled out. “Just disgusting!” Marshall’s wife ran into the kitchen. She found her husband furiously cutting out a picture from the daily paper. “Marshall, what’s the matter?” she asked. “You’ve got to calm down. Don’t forget what the doctor said. You’ve got…
Under the Canada Business Corporations Act (CBCA), a unanimous shareholder agreement (USA) is an agreement among all of the corporation’s shareholders. A unanimous shareholder agreement restricts the powers of the directors to manage, or supervise the management of, the business and affairs of the Corporation (s.146). Boiled down to its essential components, a unanimous shareholder agreement is…
There are two statutes that govern the creation of corporations in Alberta; the Canadian Business Corporations Act and the Alberta Business Corporations Act. Corporations are a creature of statute and must be incorporated under the Alberta Business Corporations Act (ABCA), or, if the intention is for the corporation to operate on a national or international level, under the…
What is a Bylaw? As far as the word “bylaw” goes, most people tend to think of them as the rules that a city or town creates and adheres to. In some capacity one wouldn’t be wrong in thinking this, because technically a municipality is a corporation. Corporate bylaws are simply the rules of the…
As the informative, but perhaps dated, video put out by the courts to help explain the mediation process puts it, “mediation is simply a negotiation which is facilitated by a mediator”. Essentially, mediation is a chance for the parties to sit down in a setting slightly more formal than a coffee meeting but less formal…
In many ways a pre-trial conference is similar to the mediation process but parties to a pre-trial conference may find that its structure is a little more formal. Pre-trial conferences, just like mediation, is designed to allow the parties to resolve their dispute without having to take the time or expense of taking their issue…
The person that a will names to administer the estate of the testator.
A person who is entitled to receive money, property or other benefits from a trust, a will or a life insurance policy.
