SOC208H5 Lecture Notes - Lecture 7: Horizon Oil Sands, Canadian Natural Resources, Hydrogen Sulfide
Document Summary
One cannot touch a corporation, photograph it, or draw a picture of it. We see a corporation only through the effects is has on the world in which it operates. In fact, the separate existence of a corporation is formally recognized in law in a way that the existence of a club or other unincorporated organization is not. A corporation can own property in its own name: it can enter into contracts; and it can sue, and be sued, too. It is, for legal purposes, a single, distinct, entity. Yet as a practical matter, there are living, breathing people behind the entity (nicholls 2005) Corporation - a company or group authorized to act as a single entity recognized by law. Greater demand to pool resources, encourage business, generate capital. Liability corporations have neither bodies to be punished, nor souls to be condemned; they therefore do as they like. (edward thurlow, lord chancellor of england)
