The Certificate of Good Standing, also known as the “Certificate of Existence” or “Certificate of Authorization”, is a document issued by the state in which a company is incorporated or registered, attesting that the company is in compliance with all state requirements and is authorized to do business in the state. The Certificate of Good …
A certificate of incumbency is a document that lists the current officers of a company. This document is usually signed by the president or secretary of the company and can be used to prove that the signer is authorized to act on behalf of the company.
Civil law systems, also known as Continental or Romano-Germanic legal systems, are those that have developed out of the European continental legal tradition. Civil law systems are characterized by comprehensive codes that seek to cover all areas of law, codification of private law, and a strong role for courts in interpreting the law. Many countries …
Collateral refers to an asset that a borrower offers to a lender as security for a loan. The collateral serves as protection for the lender in the event that the borrower is unable to repay the loan. If the borrower defaults on the loan, the lender can seize the collateral and sell it in order …
Common law is a system of law that is based on judicial precedents, as opposed to statutory law. This means that common law is derived from the decisions of judges, rather than from statutes enacted by legislatures. In countries that have a common law system, judges play a key role in developing the law, and …
Common stock is a type of securities that represents ownership in a corporation. The holder of common stock has the right to vote on corporate matters, receive dividends, and participate in the growth of the corporation. Common stock is issued by a corporation in return for cash or other assets.
A company’s domicile is the country in which it is legally incorporated. The domicile of a company is usually the country in which it has its registered office, but this is not always the case. A company may have its registered office in one country but its principal place of business in another. The term …
A corporate body is a legal entity that is created by a group of people for the purpose of achieving a common goal. The most common type of corporate body is a corporation, which is a legal entity that is owned by shareholders and operated for the benefit of its shareholders. Other types of corporate …
A covenant is an agreement between two or more parties. The agreement can be either written or verbal, and it typically involves some type of exchange. For example, one party may agree to provide goods or services to another party in exchange for something of value. Covenants are often used in business contracts, property leases, …
The term “designated director” refers to an individual who has been specifically appointed to oversee or manage a particular area or function within an organization. In many cases, the designated director will be responsible for providing guidance and direction to a team of individuals who are working on a specific project or initiative. The designated …
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