Trust: Main Elements The coverage of Trust includes the following element(s): Trust For detailed information on this issue, please read the corresponding entry. References See Also Business Law (in international or comparative law) Business Organizations (in international or comparative law) […]


The Legal History of Bankruptcy This section provides an overview of Bankruptcy Bankruptcy-Remote (SPE) in Financial Law Concept of Bankruptcy-Remote (SPE) in this field: An SPE satisfying certain legal criteria, whose assets have been isolated from and are outside of the reach of the […]


Introduction to Contract Contract, in law, an agreement that creates an obligation binding upon the parties thereto. The essentials of a contract are as follows: (1) mutual assent; (2) a legal consideration, which in most instances need not be pecuniary; (3) parties who have legal capacity […]

Sole Proprietorship

Sole Proprietorship Explained References See Also Business Law (in international or comparative law) Business Organizations (in international or comparative law) Resources See Also Business Law Business Organizations

Alternative Dispute Resolution

The Legal History of Alternative Dispute Resolution This section provides an overview of Alternative Dispute Resolution Alternative Dispute Resolution in Private International Law This section contain conflict of laws information and cross references related to alternative dispute resolution […]

Double Taxation

Summary of Double Taxation

The condition that arises when a multinational firm is taxed on overseas income in both the source country and the country of the corporation's domicile. This problem arises because nations use varying systems of taxation. Recognizing that double taxation is […]


Accounting Definition Accounting may be defined as the process of identifying, measuring, recording (see Bookkeeping), and communicating economic information about an organization or other entity, in order to permit informed judgments by users of the information. Introduction […]

Venture Capital

Venture Capital Definition Venture Capital may be defined as money or capital provided for new business ventures by investors other than the original proprietor. The term is sometimes also used for capital provided to rescue or turn around a company. Venture capitalists—that is, […]


A quorum is the minimum number of people o members of a committee, board of directors, society, meeting of shareholders, legislative assembly or other body required to be in attendance in order a vote can be taken or the body to act. Legislative Quorum in Canada As stated by the […]

Balance Sheet

The Balance Sheet Of the two traditional types of financial statements, the balance sheet relates to an entity’s position, and the income statement relates to its activity. The balance sheet provides information about an organization’s assets, liabilities, and owners’ equity as of a […]


Of the various specialized areas of accounting that exist, the three most important are auditing, income taxation, and nonbusiness organizations. Auditing is the examination, by an independent accountant, of the financial data, accounting records, business documents, and other pertinent […]

Sales Law

Sales Law Comparative Sales Law Comparative Law and the Development of Uniform Sales Law The story of the international unification of the law of sales contracts is inextricably linked to the Austrian scholar and academic Ernst Rabel (1874- 1955). Rabel prepared the basis for any comparative study of the modern law of sales. The founding … Read more

Cumulative Voting

Cumulative Voting in Constitutional Law From the Comparative Constitutions Project: A semiproportional system of voting in which each voter has as many votes as there are seats to fill, but each voter may give all of his/her votes to one candidates, or split them up as s/he desires. Cumulative […]

Bankruptcy Law

Bankruptcy is a system for ensuring the equitable payment of debts when a debtor is no longer able to meet its debt obligations, either by reorganizing the debtor or liquidating the debtor and its assets. The fundamental goal of Bankruptcy Law is two-fold: first, to allow for both the fair […]

Fiduciary Duty

Fiduciary Duty: Main Elements The coverage of Fiduciary Duty includes the following element(s): Fiduciary Duty For detailed information on this issue, please read the corresponding entry. References See Also Business Law (in international or comparative law) Business Organizations (in […]


Chapter 11 Bankruptcies Explained in the United States of America (In the U.S. law) References See Also Business Law (in international or comparative law) Bankruptcy (in international or comparative law) Resources See Also Business Law Bankruptcy

Crowdsourced Online Dispute Resolution

Crowdsourced Online Dispute Resolution (CODR) Daniel Dimov has released his dissertation on CODR, or Crowdsourced Dispute Resolution: “Although crowdsourced online dispute resolution (CODR) is one of the newest forms of dispute resolution, it has gained tremendous success. For example, Taobao User Dispute Resolution System resolved 238,000 online-shopping disputes in 2013 and attracted more than 575,000 … Read more

Antitrust Laws

In the United States For information about Antitrust laws in the context of international trade, click here Antitrust laws in the Americas Global Corporate Competition Compliance for Entities Operating Abroad   Antitrust Laws: Summary In this entry, Antitrust Laws covers: The […]

Bankruptcy Laws

History of Bankruptcy Laws In most parts of the British empire the law of bankruptcy has been modelled upon the English system. This is particularly the case in Australia and New Zealand. Victoria, South Australia, Western Australia and New Zealand follow the lines of the existing English […]

Vertical Integration

Summary of Vertical Integration

Also known as vertical expansion, the incorporation into a business or economy of earlier or subsequent stages in the channel of production. For example, a chemical producer may undertake (backward) vertical integration by producing its own petroleum as raw […]

Bahamas Foundations

Bahamas Foundations The Bahamas Foundation was introduced with the enactment of The Foundations Act, 2004. As with all legislation, it has undergone some amendments, principally in 2005 and 2007. There is great flexibility under the Foundations Act, 2004 as to who can act is these capacities. As an example, the Foundation Council does not have … Read more

Water Governance

Water Governance Legal Issues By Jacqueline Medalye Public governance Today, various forms of governance exist in the water sector. Public water provision is the most widely used governance structure under which the government takes on all of the responsibilities and challenges of water and wastewater services. The provision of water has long been considered an … Read more

Law Applicable to Products Liability

Law Applicable to Products Liability In the Convention on Law Applicable to Products Liability Article 4 This is the first of the key articles in the Convention that are concerned with the choice of the applicable law. Under this article, the applicable law is the internal law of the State of the place of injury, … Read more