How can we help?

You can also find more resources in our Help Center.

Term 2 Ch 30 & 31

Terms
STUDY
PLAY
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.