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Explaining Law Terms: Assignment

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Added on  2020-03-23

Explaining Law Terms: Assignment

   Added on 2020-03-23

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Running Head: Explaining Law Terms 1Directing Mind And Will, and Piercing The Corporate VeilName:Institution:Tutor:Course:City:Date:
Explaining Law Terms: Assignment_1
Explaining Law Terms 22. a) Directing Mind and WillThis is any employee in charge, mostly directors and managers performing certain functions for the corporation as directed and authorized by the board of directors. He benefits thecompany and is held personally liable if he acts outside his mandate. He has a role in setting the policy and managing an important part of the organization's activities. Thus, he is in control overthe company’s affairs. He is also the ego and the center of personality for the company[ CITATION Ste141 \l 1033 ]. A corporation, being a legal entity lives through the person in charge who is liable for its actions. A crime’s liability committed by the corporate entity is attributed to the person in controlof the company. He is held liable for the crime or fault committed under his supervision[ CITATION Nic16 \l 1033 ]. If the directors or the managers are guilty of any crime, the company is also guilty because they are the company by being in charge.If a person of a lower level in the corporation commits a crime in the name a corporation,the company is not held liable for the crime. This may be so if the company has set a division between the senior management and employees to avoid any criminal charges against them. If not, the director or manager who is the directing will of the company is held liable. Limited liability company owners may structure their business in a corporation manner to shield its members from personal liability for the debts or criminal liabilities of the company.2. b) Piercing The Corporate VeilThis is when the courts hold the corporation’s owner, shareholders or members personally liable for business debts though it is a legal entity[ CITATION Nic16 \l 1033 ]. It also is a
Explaining Law Terms: Assignment_2

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