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Share Certificate
In corporate law, a stock certificate (also known as certificate of stock or share certificate) is a legal document that certifies the legal interest (a bundle of several legal rights) of ownership of a specific number of shares (or, under Article 8 of the Uniform Commercial Code, a securities entitlement or pro rata share of a fungible bulk) or stock in a corporation. History A stock certificate is a legal document that certifies the legal interest (a bundle of several legal rights) of ownership of a specific number of shares (or, under Article 8 of the Uniform Commercial Code, a securities entitlement or pro rata share of a fungible bulk) or stock in a corporation. The first such instruments were used in the Netherlands by 1606, and in the United States by the year 1800. Historically, certificates may have been required to evidence entitlement to dividends, with a receipt for the payment being endorsed on the back; and the original certificate may have been required to be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Street Name Securities
The phrase street name securities or "nominee name securities" is used in the United States to refer to securities of companies which are held electronically in the account of a stockbroker or bank or custodian, similar to a bank account. The entity whose name is recorded as the legal owner of the securities is known as the "nominee owner," and that entity has ownership rights in the security. The nominee owner holds those ownership rights on behalf of the true economic owner who is referred to as the beneficial owner. In the US, Cede & Co., a nominee of Depository Trust Company, is typically the largest stockholder of a company. In the US where Cede & Co. is the street name holder, therefore, all beneficial rights such as voting rights and dividends flow first to the nominee holder Cede, and then are passed onward, and ultimately to the beneficial owners. In the United Kingdom this is known as holding shares in a nominee account. As well as the terminology differing between ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company (law)
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Facsimile
A facsimile (from Latin ''fac simile'', "to make alike") is a copy or reproduction of an old book, manuscript, map, Old master print, art print, or other item of historical value that is as true to the original source as possible. It differs from other forms of reproduction by attempting to replicate the source as accurately as possible in scale, color, condition, and other material qualities. For books and manuscripts, this also entails a complete copy of all pages; hence, an incomplete copy is a "partial facsimile". Facsimiles are sometimes used by scholars to research a source that they do not have access to otherwise, and by museums and archives for media preservation and Art conservation and restoration, conservation. Many are sold commercially, often accompanied by a volume of commentary. They may be produced in limited editions, typically of 500–2,000 copies, and cost the equivalent of a few thousand United States dollars. The term "fax" is a shortened form of "facsimile" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Novation
Novation, in contract law and business law, is the act of – # replacing an obligation to perform with another obligation; or # adding an obligation to perform; or # replacing a party to an agreement with a new party. In international law, novation is the acquisition of territory by a sovereign state through "the gradual transformation of a right ''in territorio alieno'' n foreign territoryinto full sovereignty without any formal and unequivocal instrument to that effect intervening".John P. Grant and J. Craig Barker (eds.), "Novation", in ''Perry & Grant Encyclopaedic Dictionary of International Law'', 3rd ed. (Oxford University Press, 2009). Origins in Roman law Novati, as a legal term is derived from the Roman law, in which ''novatio'' was of three kinds—substitution of a new debtor (''expromissio'', or ''delegatio''), of a new creditor (''cessio nominum vel actionum''), or of a new contract. In English law the term (though it occurs as early as Bracton) is scarcely na ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bylaws
A by-law (bye-law, by(e)law, by(e) law), or as it is most commonly known in the United States bylaws, is a set of rules or law established by an organization or community so as to regulate itself, as allowed or provided for by some higher authority. The higher authority, generally a legislature or some other government body, establishes the degree of control that the by-laws may exercise. By-laws may be established by entities such as a business corporation, a neighborhood association, or depending on the jurisdiction, a municipality. In the United Kingdom and some Commonwealth countries, the local laws established by municipalities are referred to as ''by(e)-laws'' because their scope is regulated by the central governments of those nations. Accordingly, a bylaw enforcement officer is the Canadian equivalent of the American Code Enforcement Officer or Municipal Regulations Enforcement Officer. In the United States, the federal government and most state governments have no direct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified. It is implicit that the granter retains superiority (or sovereignty), and that the recipient admits a limited (or inferior) status within the relationship, and it is within that sense that charters were historically granted, and it is that sense which is retained in modern usage of the term. The word entered the English language from the Old French ''charte'', via Latin ''charta'', and ultimately from Greek χάρτης (''khartes'', meaning "layer of papyrus"). It has come to be synonymous with a document that sets out a grant of rights or privileges. Other usages The term is used for a special case (or as an exception) of an institutional charter. A charter school, for example, is one that has different rules, regulations, and statutes from a state school. Charter can be used as a synonym for "hire" or "lease", as in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chose In Action
Chose (pronounced: , French for "thing") is a term used in common law tradition to refer to rights in property, specifically a combined bundle of rights. A chose describes the enforcement right which a party possesses in an object. The use of ''chose'' extends from the English use of French within the courts. In English and commonwealth law, all personal things fall into one of two categories, either choses in action or choses in possession. English law uses a ''chose'' to refer to a bundle of rights, traditionally relating to property which may be utilised in certain circumstances. Thus, a chose in action refers to a bundle of personal rights which can only be enforced or claimed by a chose-holder bringing an action through the court to enforce the action. In English law, this category is enormously wide.WS Holdsworth, ‘The History of the Treatment of Choses in Action by the Common Law’, 33 ''Harvard LR'' 96 This is contrasted with a chose in possession which represents rights w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stamp Duty
Stamp duty is a tax that is levied on single property purchases or documents (including, historically, the majority of legal documents such as cheques, receipts, military commissions, marriage licences and land transactions). A physical revenue stamp had to be attached to or impressed upon the document to show that stamp duty had been paid before the document was legally effective. More modern versions of the tax no longer require an actual stamp. The duty is thought to have originated in Venice in 1604, being introduced (or re-invented) in Spain in the 1610s, the Spanish Netherlands in the 1620s, France in 1651, Denmark in 1657, Prussia in 1682 and England in 1694. Usage by country Australia The Australian Federal Government does not levy stamp duty. However, stamp duties are levied by the Australian states on various instruments (written documents) and transactions. Stamp duty laws can differ significantly between all eight jurisdictions. The rates of stamp duty also diffe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Offshore Financial Centre
An offshore financial centre (OFC) is defined as a "country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy." "Offshore" does not refer to the location of the OFC, since many Financial Stability Forum– IMF OFCs, such as Delaware, South Dakota, Singapore, Luxembourg and Hong Kong, are located "onshore", but to the fact that the largest users of the OFC are non-resident, i.e. "offshore". The IMF lists OFCs as a third class of financial centre, with international financial centres (IFCs), and regional financial centres (RFCs); there is overlap (e.g. Singapore is an RFC and an OFC). The Caribbean, including the Cayman Islands, the British Virgin Islands and Bermuda, has several major OFCs, facilitating many billions of dollars worth of trade and investment globally. During April–June 2000, the Financial Stability Forum–International Monetary Fund produced the first l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CBC News
CBC News is a division of the Canadian Broadcasting Corporation responsible for the news gathering and production of news programs on the corporation's English-language operations, namely CBC Television, CBC Radio, CBC News Network, and CBC.ca. Founded in 1941, CBC News is the largest news broadcaster in Canada and has local, regional, and national broadcasts and stations. It frequently collaborates with its organizationally separate French-language counterpart, Radio-Canada Info. History The first CBC newscast was a bilingual radio report on November 2, 1936. The CBC News Service was inaugurated during World War II on January 1, 1941, when Dan McArthur, chief news editor, had Wells Ritchie prepare for the announcer Charles Jennings a national report at 8:00 pm. Readers who followed Jennings were Lorne Greene, Frank Herbert and Earl Cameron. ''CBC News Roundup'' (French counterpart: ''La revue de l'actualité'') started on August 16, 1943, at 7:45 pm, being replaced by ''T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bearer Instrument
A bearer instrument is a document that entitles the holder of the document to rights of ownership or title to the underlying property, such as shares or bonds. Unlike normal registered instruments, no record is kept of who owns bearer instruments or of transactions involving transfer of ownership, enabling the owner, as well as a purchaser, to deal with the property anonymously. Whoever physically holds the bearer document is assumed to be the owner of the property, and the rights arising therefrom, such as dividends. Bearer instruments are used especially by investors and corporate officers who wish to retain anonymity. The OECD in a 2003 report concluded that the use of bearer shares is "perhaps the single most important (and perhaps the most widely used) mechanism" to protect the anonymity of a ship's beneficial owner.OECD 2003, p. 8. Physically possessing a bearer share accords ownership of the corporation, which in turn owns the asset. There is no requirement for reporting th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bearer Stock Certificate
A bearer instrument is a document that entitles the holder of the document to rights of ownership or title to the underlying property, such as shares or bonds. Unlike normal registered instruments, no record is kept of who owns bearer instruments or of transactions involving transfer of ownership, enabling the owner, as well as a purchaser, to deal with the property anonymously. Whoever physically holds the bearer document is assumed to be the owner of the property, and the rights arising therefrom, such as dividends. Bearer instruments are used especially by investors and corporate officers who wish to retain anonymity. The OECD in a 2003 report concluded that the use of bearer shares is "perhaps the single most important (and perhaps the most widely used) mechanism" to protect the anonymity of a ship's beneficial owner.OECD 2003, p. 8. Physically possessing a bearer share accords ownership of the corporation, which in turn owns the asset. There is no requirement for reporting th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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