Management and Organizational Studies 2275A/B Chapter Notes - Chapter 15: Double Taxation, 18 Months, Foreign Tax Credit

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Concept of a corporation being a separate legal entity is complex. Established in 1897 in a case that remains at the centre of modern corporation law salomon vs salomon ltd. Board of directors is charged with management functions, including policy development, and is answerable to the shareholders since, should it perform poorly, the board runs the risk of being voted out of office. Corporate officers: internal group, hired by board and charged with managing day to day operations (eg: president, secretary, etc) Bulk of corporation law seeks to regulate the relationship among the corporations internal stakeholders. What type of shares will be available and to who. Choice b/c jurisdiction over the incorporation of companies is divided between the federal government and provincial. Acts embody different legislation that provides for the incorporation. Different models or prototypes as to how they come into existence. Way in which corporation is created varies, the different methods have a lot in common.