Term 2 Ch 30 & 31

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25 terms · Terms

Resolution

decisions made by Directors or shareholders at a meeting.

Mutatis Mutandis

the necessary changes being made.

Agenda

a list of items of business to be transacted at a meeting.

Private

the term once used to describe a corporation that does not offer its shares to the public.

Terminated

the term used to indicate that a meeting has ended.

Minutes

the summary of the business conducted at a meeting.

President

the principal officer of a corporation.

Proxy

a written authorization for someone to act or vote for someone else at a corporation's meeting.

Chair

the term used to describe the person who presides over a meeting.

Due Diligence

investigation and analysis done by a company in anticipation of entering into a business transaction.

Dividends

profits or earnings of the corporation paid out to shareholders.

Bona Fide

in good faith, honestly, without fraud

First

The first directors are those listed in the articles of incorporation.

Escrow

We will hold the share certificates in escrow until her cheque is received.

Treasury

Any shares issued to an original shareholder would come from treasury.

Quorum

The meeting could not proceed because there was no quorum.
NOTE: min. # of members of a body who must be present for its transaction to be valid.

Notary Public

Please ask a/an notary public to authenticate a copy of the certificate of incorporation.
NOTE:A person legally empowered to witness and certify the validity of documents

NUANS

NUANS is a name search report that must be filed with the articles.

Common

As there is only one class of shares, they will be common shares.

Directors

At their annual meeting, the shareholders will elect directors for the next year.

Corporate Seal

A corporation need not but may have a/an corporate seal for executing documents.

Proxy

She has given her proxy to another shareholder for use at the meeting.

Class

A corporation may have more than one class of shares.

Terminated

When all the business was conducted, the meeting was terminated.

Officers

At their meeting the directors elected the officers of the corporation.
NOTE:Directors designate the officers of the corporation, appoint the individuals to hold each office, and specify the duties and delegate the powers to manage the affairs of the corporation.

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