A certificate of formation is a legal document that must be filed to legally create a limited liability company (LLC); it serves the purpose of proving the company’s establishment, and contains all information about the formation of the...
llcs-corporations-partnerships
(Wex page)
A certificate of incorporation is a legal document/license relating to the establishment of a company or corporation. It serves the purpose of proving that the company or corporation has been formed. It is issued by the state government, or...
(Wex page)
A certificate of organization, also known as articles of organization is a document that must be filed in order to establish a status of a Limited Liability Company (LLC). The certificate of organization must include information such as the...
(Wex page)
A closely held corporation is a corporation which is owned by an individual or small group of shareholders, who are often members of the same family. Shares of a closely held corporation are generally not traded in the securities market(s)....
(Wex page)
Common stock is a class of stock that represents equity ownership in a corporation. Owners of common stock, called shareholders, are entitled to the following rights:
Voting rights to elect the members of the board of directors.... (Wex page)
A conditional sale refers to a transaction in which the purchaser receives possession of and the right to use certain goods, but the title remains with the seller until the performance of a condition is met by the buyer. Under the contract,...
(Wex page)
Consortium in commercial context means an association, combination or partnership of businesses, financial institutions or investors engaged in a joint venture.
In the context of family law, consortium means the benefits a...
(Wex page)
A contractor is a business or entity that agrees to perform work under terms of a contract. Contractors are distinct from employees in that they are generally in charge of how work will be performed and are obligated to provide a specified...
(Wex page)
Contribution is an important term in the fields of business and tort law.
Tort LawIn the field of tort law, contribution refers to an action a defendant may bring in a joint and several liability jurisdiction to recover...
(Wex page)
A co-partner is an investor in a partnership. According to Section 202 of the “UPA” or Uniform Partnership Act, a person who receives a share of the profits of a business is generally presumed to be a partner in the business. When two or more...