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Tag-along Right
Tag along rights (TARs) comprise a group of clauses in a contract which together have the effect of allowing the minority shareholder(s) in a corporation to also take part in a sale of shares by the majority shareholder to a third party under the same terms and conditions. Consider an example: A and B are both shareholders in a company, with A being the majority shareholder and B the minority shareholder. C, a third party, offers to buy A's shares at an attractive price, and A accepts. In this situation, tag-along rights would allow B to also participate in the sale under the same terms and conditions as A. As with other contractual provisions, tag-along rights originated from the doctrine of freedom of contract and is governed by contract law (in common law countries) or the law of obligations (in civil law countries). As tag-along rights are contractual terms between private parties, they are often found in venture capital and private equity firms but not public companies. S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jurisdictions, civil law jurisdictions, or mixed-law jurisdictions that combine elem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Control Premium
A control premium is an amount that a buyer is sometimes willing to pay over the current market price of a publicly traded company in order to acquire a controlling share in that company. If the market perceives that a public company's profit and cash flow is not being maximized, capital structure is not optimal, or other factors that can be changed are impacting the company's share Overview of concept Transactions involving small blocks of shares in public companies occur regularly and serve to establish the market price per share of company stock. Acquiring a controlling number of shares sometimes requires offering a premium over the current market price per share in order to induce existing shareholders to sell. It is made through a tender offer with specific terms, including the price. Higher control premiums are often associated with classified boards. The amount of control is the acquirer's decision and is based on its belief that the target company's share price is not opti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Functions Of The House Of Lords
Whilst the House of Lords of the United Kingdom is the upper chamber of Parliament and has government ministers, for many centuries it had a judicial function. It functioned as a court of first instance for the trials of peers and for Impeachment in the United Kingdom, impeachments, and as a court of last resort in the United Kingdom and prior, the Kingdom of Great Britain and the Kingdom of England. Appeals were technically not to the House of Lords, but rather to the King-in-Parliament. In Appellate Jurisdiction Act 1876, 1876, the Appellate Jurisdiction Act devolved the appellate functions of the House to an Appellate Committee, composed of Lord of Appeal in Ordinary, Lords of Appeal in Ordinary (informally referred to as Law Lords). They were then appointed by the Lord Chancellor in the same manner as other judges. During the 20th and early 21st century, the judicial functions were gradually removed. Its final trial of a peer was in 1935, and the use of special courts for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freedom Of Speech
Freedom of speech is a principle that supports the freedom of an individual or a community to articulate their opinions and ideas without fear of retaliation, censorship, or legal sanction. The rights, right to freedom of expression has been recognised as a Human rights, human right in the Universal Declaration of Human Rights and international human rights law. Many countries have constitutional law that protects free speech. Terms like ''free speech'', ''freedom of speech,'' and ''freedom of expression'' are used interchangeably in political discourse. However, in a legal sense, the freedom of expression includes any activity of seeking, receiving, and imparting information or ideas, regardless of the medium used. Article 19 of the UDHR states that "everyone shall have the right to hold opinions without interference" and "everyone shall have the right to freedom of expression; this right shall include freedom to seek, receive, and impart information and ideas of all kinds, re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rights
Rights are law, legal, social, or ethics, ethical principles of freedom or Entitlement (fair division), entitlement; that is, rights are the fundamental normative rules about what is allowed of people or owed to people according to some legal system, social convention, or ethical theory. Rights are an important concept in law and ethics, especially theories of justice and deontology. The history of social conflicts has often involved attempts to define and redefine rights. According to the ''Stanford Encyclopedia of Philosophy'', "rights structure the form of governments, the content of laws, and the shape of morality as it is currently perceived". Types of rights Natural versus legal * Natural rights are rights which are "natural" in the sense of "not artificial, not man-made", as in rights deriving from human nature or from the divine command theory, edicts of a god. They are universal; that is, they apply to all people, and do not derive from the laws of any specific soci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enforceable
An unenforceable contract or transaction is one that is valid but one the court will not enforce. Unenforceable is usually used in contradiction to void (or ''void ab initio'') and voidable. If the parties perform the agreement, it will be valid, but the court will not compel them if they do not. An "agreement to agree", where a purported contract contains an obligation to enter into a subsequent agreement in the future, the terms of which are not certain at the time of the initial agreement, is generally considered to lack sufficient certainty to constitute a legally enforceable contract and is therefore unenforceable. However, an agreement under which "the parties contemplate entering into a further, more formal, agreement later" may be enforceable. Prostitution An example of a transaction which is an unenforceable contract is a contract for prostitution under English law. Prostitution is not actually a crime under English law, but both soliciting a prostitute and living off ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Horace Davey, Baron Davey
Horace Davey, Baron Davey, PC, FRS, FBA (30 August 183320 February 1907) was an English judge and Liberal politician. Background and education Davey was the son of Peter Davey, of Horton, Buckinghamshire and Caroline Emma Pace, and was born in Camberwell, Surrey. He was educated at Rugby and University College, Oxford, where he matriculated on 20 March 1852. He took a double first-class in Classics and Mathematics (Moderations and Finals), was senior mathematical scholar and Eldon law scholar (1859), and was elected a Fellow of his college (1856–67). Having achieved a BA (1856), and an MA (1859) Davey decided on a career in the law. He was admitted to Lincoln's Inn on 19 January 1857. On 26 January 1861, he was called to the Bar at Lincoln's Inn. Almost as soon as he started work as a law reporter, he married the following summer, on 5 August 1862. He was employed on young titles such as ''New Reports'', when he joined in marriage Louisa Hawes Donkin at St Geor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Articles Of Association
In corporate governance, a company's articles of association (AoA, called articles of incorporation in some jurisdictions) is a document that, along with the memorandum of association (where applicable), forms the company's constitution. The articles define the responsibilities of the Board of directors, directors, the nature of business, and the mechanisms by which shareholders exert control over the board of directors. Articles of association are essential to corporate operations, as they may regulate both internal and external affairs. Articles of incorporation, also referred to as the certificate of incorporation or the corporate charter, is a document or charter that establishes the existence of a corporation in the United States and Canada. They generally are filed with the Secretary of State in the U.S. State where the company is incorporated, or other list of company registers, company registrar. An equivalent term for limited liability companies (LLCs) in the United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholders' Agreement
A shareholders' agreement (sometimes referred to in the U.S. as a stockholders' agreement) (SHA) is an enforceable agreement amongst the shareholders or members of a company. In practical effect, it is analogous to a partnership agreement. There are advantages of the shareholder's agreement: they provide a contractual remedy if their terms are broken, and they can help the corporate entity to maintain the absence of publicity and maintain confidentiality. Nonetheless, there are also some disadvantages that should be considered, such as the limited effect to the third parties (especially assignees and share purchasers) and that alteration of the terms of an agreement can be time consuming. Purpose In strict legal theory, the relationships amongst the shareholders and those between the shareholders and the company are regulated by the constitutional documents of the company. However, where there are a relatively small number of shareholders, like in a startup company, it is quite ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute
A statute is a law or formal written enactment of a legislature. Statutes typically declare, command or prohibit something. Statutes are distinguished from court law and unwritten law (also known as common law) in that they are the expressed will of a legislative body, whether that be on the behalf of a country, state or province, county, municipality, or so on. Depending on the legal system, a statute may also be referred to as an "act." Etymology The word appears in use in English as early as the 14th century. "Statute" and earlier English spellings were derived from the Old French words ''statut'', ''estatut'', ''estatu,'' meaning "(royal) promulgation, (legal) statute." These terms were in turn derived from the Late Latin ''statutum,'' meaning "a law, decree." Publication and organization In virtually all countries, newly enacted statutes are published and distributed so that everyone can look up the statutory law. This can be done in the form of a government gazette, whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indemnity
In contract law, an indemnity is a contractual obligation of one party (the ''indemnitor'') to compensate the loss incurred by another party (the ''indemnitee'') due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, a "guarantee" is an obligation of one party (the ''guarantor'') to another party to perform the promise of a relevant other party if that other party defaults. Indemnities form the basis of many insurance contracts; for example, a car owner may purchase different kinds of insurance as an indemnity for various kinds of loss arising from operation of the car, such as damage to the car itself, or medical expenses following an accident. In an agency context, a principal may be obligated to indemnify their agent for liabilities incurred while carrying out responsibilities under the relationship. While the events giving ris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
