This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1910 Excerpt: ... new owner becomes a stockholder, with the same
rights and privileges as the former owner. A stockholder can
dispose of a part or all of his stock without the permission of the
remaining stockholders. Since the acts of a stockholder have no
effect on the business, and the charter may be renewed any number
of times, it is sometimes said that "A corporation never dies."
They are dissolved only by an agreement of a two-thirds vote of the
stockholders, legal procedure or by the expiration of the charter.
Object. Both the partnership and corporation are organized for a
speculative purpose. As a general rule, one person does not care to
assume all the responsibility in a new enterprise, hence com bines
his capital with that of others, thus distributing the losses or
gains that may arise from the investment. As a general rule, the
partnership is formed when the amount of the investment is not very
large and each one of the investors is taking an active part in the
business. Where a large amount of capital is required, the
corporation is formed and the necessary funds are collected by
selling the stock. Those who have a small amount of money to invest
can purchase stock, but they depend upon the officers to so conduct
the business as to make it profitable and only hope for a
reasonable increase (dividend) on their investment. The corporation
is becoming very popular in modern business and a great many
mercantile houses are taking advantage of the special advantages
afforded by this manner of organization. All the states have
enacted laws which make it very easy to organize a corporation,
thus adding to the popularity of this manner of business
organization. Terms Peculiar to a Corporation. 142. Charter. The
charter is the corporation's authority for doing...
|Country of origin:
James Williams Baker
||246 x 189 x 5mm (L x W x T)
||Paperback - Trade
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!