Minutes, in corporate law, are permanent and formal records of business conducted and resolutions adopted at a meeting of the board of directors or shareholders. Once accepted at the next meeting, the minutes become an official representation...
llcs-corporations-partnerships
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A naked option, also known as an "uncovered option," is an option contract entered into where the seller does not actually own any, or enough, of the underlying stock. When the buyer exercises the option, the seller must purchase the shares...
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No-par stocks are those where the value of the stocks relies completely on the market, not at all based upon any guaranteed value (the par value) set at the issuance of the stocks. The corporate charter contains specific provisions for par...
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An offshore corporation, or offshore company, is a company that is chartered under the laws of a country other than the U.S. These offshore jurisdictions, like the British Virgin Islands or the Cayman Islands, have special offshore company...
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An operating agreement is the governing contract adopted by members of a Limited Liability Company (LLC). It lays out the business's course and helps operations and management become more organized. It can be used to regulate nearly all...
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Owners’ agreement or ownership agreement refer to the contract made between owners of a business entity that determines the rights of the owners. Ownership agreements differ based on the type of business such as partnerships or LLCs....
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Par, also referred to as par value or nominal value, is the face value of a bond or the stock value stated in the corporate charter and noted in the stock certificate. Each share of stock receives a par value, representing the amount of...
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Par value, also referred to as nominal value, is the face value of a bond or the stock value stated in the corporate charter and noted in the stock certificate. Par value of a bond or fixed-income instrument is crucial since it influences the...
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When companies issue par-value stocks, the par value refers to the minimum amount that the company could sell these stocks to stockholders. Therefore, the par value is set at the issuance of the stocks. The corporate charter contains specific...
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Participating preferred stock is a type of preferred stock that gives the holder a right to be paid first, before common stockholders (non-preferred) in the event of a dividend or liquidation payout. Additionally, the holder has the right to...