Related Entries of the International Encyclopedia:

1. Curate Curate, Services From the book The Clergyman's Hand-book of Law, about Curate, Services (1): In an action by a curate against a religious corporation for personal services, the court will not inquire into the spiritual relations existing between the parties, but will examine their legal [...]...
2. Fees Fees in International Trade Meaning of Fees, according to the Dictionary of International Trade (Global Negotiator): The amount clients pay to consultants or other service providers for the time spent delivering services. Fees may be fixed price or calculated on an hourly or daily basis. [...]...
3. Execution Introduction to Execution Execution, putting an individual to death as a legal penalty for a crime or for political or religious reasons. Sometimes, executions have been carried out by self-appointed commissions or mobs, without due process of law." (1) Resources Notes and Re......
4. Assessments Cemetery, Assessments From the book The Clergyman's Hand-book of Law, about Cemetery, Assessments (1): Where a lot was bought for the purpose of building a church but was used for a cemetery, and a church was built at another place and the deed to the lot was taken in the name of the [...]...
5. Name Change Name, Change From the book The Clergyman's Hand-book of Law, about Name, Change (1): The name of an ecclesiastical corporation is arbitrary and a change or alteration in its name does not affect its identity.126 A charter will not be granted to a church with a name so like another church [...]...
6. Charter By-Laws Charter, By-Laws From the book The Clergyman's Hand-book of Law, about Charter, By-Laws (1): When the charter or by-laws of a church corporation provide that they may be altered, such changes may, after the execution and delivery of a deed, immediately adhere to the title.460 Resources [...]...
7. Unincorporated Church Unincorporated Church, Incorporated From the book The Clergyman's Hand-book of Law, about Unincorporated Church, Incorporated (1): The officers of an unincorporated church can only be elected by the members of the church, unless there is some law of the State or rule of the church that [...]...
8. Independent Society, Foreign Language, Independent From the book The Clergyman's Hand-book of Law, about Society, Foreign Language, Independent (1): The formation of a society distinct from the rest of the congregation for the purpose of instruction in a portion of the doctrine of the same church in [...]...
9. Waiver Waiver and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Waiver: A legal exception in GA n whereby a contracting party --with the approval of other GATT members --may maintain a specific [...]...
10. Office Office, God From the book The Clergyman's Hand-book of Law, about Office, God (1): The constitutions of Arkansas, Mississippi, North Carolina, South Carolina, and Texas, prohibit a man from holding office who denies the existence of a Supreme Being; and the constitutions of Delaware, [...]...
11. Personalty Church, Personalty From the book The Clergyman's Hand-book of Law, about Church, Personalty (1): A church removed from its foundation and put on rollers was severed from the realty and became personal property.531 Resources Notes and References Charles M. Scanlan, The Clergyman's [...]...
12. Removing Church, Building, Removing From the book The Clergyman's Hand-book of Law, about Church, Building, Removing (1): Where subscriptions were secured to build a church at a particular place as a memorial to a certain person, a congregation may be enjoined from tearing down the building and [...]...
13. Lease Lease, Purposes From the book The Clergyman's Hand-book of Law, about Lease, Purposes (1): A religious literary society and scientific corporation has power to lease part of a building owned by it for theatrical and operatic purposes.532 Resources Notes and References Charles M. [...]...
14. Misnomer Misnomer, Identity From the book The Clergyman's Hand-book of Law, about Misnomer, Identity (1): The misnomer of a religious society or corporation will not invalidate a mortgage where the identity of the society can be clearly shown.464 Resources Notes and References Charles M. [...]...
15. Officers Officers, Discipline, Property From the book The Clergyman's Hand-book of Law, about Officers, Discipline, Property (1): When a church society incorporates it becomes a private corporation, and the officers are bound to manage the property in the most upright and careful manner according [...]...
16. Revenues Control, Revenues From the book The Clergyman's Hand-book of Law, about Control, Revenues (1): The trustees of a corporation of a church or of a religious society have entire control over the revenues of such body.501 Resources Notes and References Charles M. Scanlan, The [...]...
17. Legal Notice Notice, Legal From the book The Clergyman's Hand-book of Law, about Notice, Legal (1): All the proceedings of a corporation, including notice, must be in accordance with the constitution and by-laws, and no business transacted contrary thereto is legal.129 Resources Notes and References [...]...
18. Management Management Management, Disability From the book The Clergyman's Hand-book of Law, about Management, Disability (1): An unincorporated society is managed by those who are competent to transact their own business. Therefore, it would seem that members must be men over twenty-one years of [...]...
19. Bequests Corporations, Bequests From the book The Clergyman's Hand-book of Law, about Corporations, Bequests (1): Foreign religious corporations may be entitled to recover bequests made to them in some States; but the general rule is that a foreign religious society has no better right to take [...]...
20. Pew Members Members, Pew From the book The Clergyman's Hand-book of Law, about Members, Pew (1): Members of the congregation may be required to pay for a pew or sitting in the church, and where a priest ejected a member from the church because he would not rent a pew, he was sustained by the [...]...
21. Name Name, Bequest, Corporation From the book The Clergyman's Hand-book of Law, about Name, Bequest, Corporation (1): A mistake in a name does not render a bequest or a gift void if the person intended can be identified.566 Also, a devise may be made to a corporation not yet organized and when [...]...
22. Temporal Affairs Temporal Affairs, Management From the book The Clergyman's Hand-book of Law, about Temporal Affairs, Management (1): A majority of a religious corporation at a regularly called meeting may, by a vote taken, bind the minority in all temporal affairs.120 The character of membership in the [...]...
23. Fund Dissolution Dissolution, Fund From the book The Clergyman's Hand-book of Law, about Dissolution, Fund (1): The corporation of a congregation can not by seceding and a majority vote dissolve the corporation where it is a part of a superior body.148 But the courts have plenary powers over corporations [...]...
24. Contest Contest, Secession From the book The Clergyman's Hand-book of Law, about Contest, Secession (1): In case of a devise to a church which is claimed by two societies, it is the duty of the court to decide in favor of those who adhere to the ecclesiastical government of the church which was in [...]...
25. Purpose Real Estate, Purpose From the book The Clergyman's Hand-book of Law, about Real Estate, Purpose (1): A church has no power to acquire and hold real estate for any purpose other than that of promoting the object of its creation, and any contract entered into for a purchase of real estate [...]...
26. Discipline Use, Change, Parsonage, Discipline, Doctrine, Curate From the book The Clergyman's Hand-book of Law, about Use, Change, Parsonage, Discipline, Doctrine, Curate (1): When a fee simple is acquired by a religious corporation, without restriction as to quantity, but limiting the purpose of its [...]...
27. Parishioner From the book The Clergyman's Hand-book of Law, about Parishioner (1): A parishioner must be defined in harmony with the meaning of the word "parish."53 Resources Notes and References Charles M. Scanlan, The Clergyman's Hand-book of Law. The Law of Church and Grave [...]...
28. Secular Local, Secular Matters From the book The Clergyman's Hand-book of Law, about Local, Secular Matters (1): There is still another division of superior and inferior authority: the local corporation or congregation has nothing whatever to do with the doctrinal or disciplinary functions of the [...]...
29. Subscriptions Incorporated, Subscriptions From the book The Clergyman's Hand-book of Law, about Incorporated, Subscriptions (1): The members of an incorporated poll parish are not individually liable on a judgment and execution against the corporation, excepting on the unpaid subscriptions.218 [...]...
30. Treasurer Treasurer, Accepting a Draft From the book The Clergyman's Hand-book of Law, about Treasurer, Accepting a Draft (1): A parish treasurer has no authority under any condition to bind the corporation by accepting a draft in favor of a third person. A treasurer elected for the purpose of [...]...
31. Vest Burned, Revert, Vested From the book The Clergyman's Hand-book of Law, about Burned, Revert, Vested (1): The fact that a church on lands donated to the parish, on condition of sustaining the church, burned down, the title did not revert to the grantor's heirs.524 Also land granted a [...]...
32. Reorganization Spanish Translation of reorganization of business in cases of insolvency or bankruptcyThis is the legal translation of English to Spanish in relation to reorganization of business in cases of insolvency or bankruptcy and / or a definition of this topic: Concurso de Acreedores (in Spanish, [...]...
33. Incorporation Incorporation, Evidence From the book The Clergyman's Hand-book of Law, about Incorporation, Evidence (1): The certificate of incorporation or charter of a religious society or a certified copy thereof from the public record, is the proper evidence thereof.115 Secondary evidence and [...]...
34. Special Purpose Special Purpose, Suit From the book The Clergyman's Hand-book of Law, about Special Purpose, Suit (1): When money is subscribed for a special purpose, as for rebuilding a church, it belongs to the church organization; and in a suit to recover the money the action should be brought in the [...]...
35. Christians Church, Christians, Religion From the book The Clergyman's Hand-book of Law, about Church, Christians, Religion (1): The missions established in California prior to its admission into the Union were, in law, practically independent organizations and had no legal connection with the [...]...
36. Misuse Perversion, Misuse, Suit From the book The Clergyman's Hand-book of Law, about Perversion, Misuse, Suit (1): Unless there is substantial departure from the purpose of the trust which amounts to a perversion of it, a court of equity will not interfere to prevent the misuse or abuse of a [...]...
37. Religious Service Business, Religious Service From the book The Clergyman's Hand-book of Law, about Business, Religious Service (1): A church organization has the legal right to make any contract concerning its own affairs that is not prohibited by its by-laws or its charter, subject to all laws of legal [...]...
38. Trust Funds Trust Funds, Account From the book The Clergyman's Hand-book of Law, about Trust Funds, Account (1): Where a member of the church received funds to invest in his own name for the benefit of the church, he will be obliged in a court of equity to give full account for the money and its [...]...
39. Church Record Church Record, Excommunication From the book The Clergyman's Hand-book of Law, about Church Record, Excommunication (1): An entry of a church record that "A report raised and circulated by A. B. against Brother C., stating that he made him pay a note twice, and proved by A. B. as [...]...
40. Lots Subscription, Lots From the book The Clergyman's Hand-book of Law, about Subscription, Lots (1): Any one may convey title to a church as his part of the subscription by merely marking it on a plat made by him, as lots donated to such church.463 Resources Notes and References Charles [...]...
41. Limited Liability Company Gmbh (Gesellschaft Mit Beschränker Haftung) in Company Law Meaning of Gmbh (Gesellschaft Mit Beschränker Haftung), according to the Dictionary of International Trade (Global Negotiator): In German speaking countries (Austria, Germany, Switzerland) a designation for a private limited [...]...
42. Lay Lay Members, Appointed From the book The Clergyman's Hand-book of Law, about Lay Members, Appointed (1): Where the statute provides that two lay members of the corporation of a Catholic parish shall be appointed annually "by the committee of the congregation," the members of the [...]...
43. Proper Record From the book The Clergyman's Hand-book of Law, about Proper Record (1): A book kept by a minister, which contained a regular statement in proper form of the admission of members, choice of officers, and transaction of business of the church, which was the only book kept by the parish, is [...]...
44. Sacraments From the book The Clergyman's Hand-book of Law, about Sacraments (1): To publish of a person that he has been deprived of the sacraments of the church to which he belongs, is libelous.692 Resources Notes and References Charles M. Scanlan, The Clergyman's Hand-book of Law. The Law [...]...
45. School Sunday-School, Church From the book The Clergyman's Hand-book of Law, about Sunday-School, Church (1): An ordinary Sunday-school where the Bible and religious precepts are taught, is a church within the law.707 Resources See Also Credit Union Cooperative Collective Resources Notes and [...]...
46. Trustees Control Trustees, Control From the book The Clergyman's Hand-book of Law, about Trustees, Control (1): A statute passed in 1813 providing that a certificate of incorporation by the bishop, vicar-general, pastor of the church, and two others selected by them and their successors shall be a body [...]...
47. Vested Rights Control, Secede, Vested Rights From the book The Clergyman's Hand-book of Law, about Control, Secede, Vested Rights (1): The officers of a church corporation have control of the business management for all civil purposes, excepting as otherwise provided by the articles of organization, [...]...
48. De Facto Officers From the book The Clergyman's Hand-book of Law, about De Facto Officers (1): The acts of de facto officers can not usually be questioned in a collateral proceeding, such as to set aside a conveyance, when the merits of the question do not involve the election.301 Being elected does not [...]...
49. Official Acts Official Acts, Subscriptions From the book The Clergyman's Hand-book of Law, about Official Acts, Subscriptions (1): The official acts of a minister coming in question incidentally, unless contrary to the statute, are as valid as the official acts of any other officer.190 A clergyman who [...]...
50. Religious Society Church, Religious Society From the book The Clergyman's Hand-book of Law, about Church, Religious Society (1): Bouvier's definition of "Church" is: "A society of persons who profess the Christian religion." Chief Justice Shaw's definition is: "The church [...]...
51. Suit Sect, Suit, Property From the book The Clergyman's Hand-book of Law, about Sect, Suit, Property (1): A number of people formed a congregation and became incorporated in 1810, the members being mostly of Presbyterian extraction. This independent congregation bought and paid for property, [...]...
52. Excommunication Major Excommunication From the book The Clergyman's Hand-book of Law, about Major Excommunication (1): As excommunication non tolerati affects the rights of citizenship, it is not lawful in England nor the United States. To say that A. has been excommunicated in any form, if untrue, is [...]...
53. Funeral Expenses From the book The Clergyman's Hand-book of Law, about Funeral Expenses (1): Witnesses' opinions as to the reasonable amount for burial or as to the cost of a funeral being reasonable, are not binding on a court or jury. The station of a man, the property that he leaves, the life that [...]...
54. Meetings Meeting, Consent From the book The Clergyman's Hand-book of Law, about Meeting, Consent (1): A valid meeting can not be held by a corporation, unless notice has been given in conformity with the laws and rules and regulations of the corporation or the consent of every person who is [...]...
55. Purposes Purposes, Exempt From the book The Clergyman's Hand-book of Law, about Purposes, Exempt (1): Only church property that is actually used for church or charitable purposes, is exempt from taxation. Property held for its increase or profit is not exempt.587 Land bought for a church on which [...]...
56. Bodies Abandoned, Bodies From the book The Clergyman's Hand-book of Law, about Abandoned, Bodies (1): When a cemetery has been abandoned, those who have relatives buried there may incorporate it for preservation.793 Also, a corporation may change its cemetery and remove the bodies interred [...]...
57. Merits Expelled, Merits From the book The Clergyman's Hand-book of Law, about Expelled, Merits (1): Mandamus can not be resorted to to restore a member regularly expelled from his church, as a court will not inquire into the merits of the case.219 Resources Notes and References Charles M. [...]...
58. Subordinate Subordinate, Incorporated From the book The Clergyman's Hand-book of Law, about Subordinate, Incorporated (1): A religious society subordinate to church judicatures, which declares itself independent and becomes incorporated under the general law of the state and subsequently purchases [...]...
59. Usage By-Laws, Usage From the book The Clergyman's Hand-book of Law, about By-Laws, Usage (1): If there is no law of a religious society determining the mode of conducting an election, the corporation may provide by-laws therefor; and if the corporation should fail to make such by-laws, a long [...]...
60. Forfeiture of Membership From the book The Clergyman's Hand-book of Law, about Forfeiture of Membership (1): Any member may forfeit his membership in a church.246 Resources Notes and References Charles M. Scanlan, The Clergyman's Hand-book of Law. The Law of Church and Grave (1909), Benziger Brothers, New [...]...
61. Sewing Sewing Circle, Money From the book The Clergyman's Hand-book of Law, about Sewing Circle, Money (1): A church may maintain an action against a sewing circle to require it to pay over money collected for the benefit of the church.317 Resources Notes and References Charles M. Scanlan, [...]...
62. Undertaker Sexton, Undertaker, Authorities From the book The Clergyman's Hand-book of Law, about Sexton, Undertaker, Authorities (1): The sexton who has charge of the church property may lawfully remove from the church an undertaker who, after being warned to desist and leave, persists in conducting [...]...
63. Catholic Discipline From the book The Clergyman's Hand-book of Law, about Catholic Discipline (1): A church member has no right to sue any one in holy orders in the civil court without leave. That is, a layman or priest should obtain leave of the bishop to sue a priest. In some countries it is ground for [...]...
64. Charitable Institution From the book The Clergyman's Hand-book of Law, about Charitable Institution (1): An institution that limits its benefactions to the members of a particular denomination is, in the absence of a statute to the contrary, a charitable institution.604 This rule has exceptions.605 Resources [...]...
65. Councils Member, Officer, Councils From the book The Clergyman's Hand-book of Law, about Member, Officer, Councils (1): But slanderous or libelous statements made concerning a person not a member of the church or made concerning a member of the church to another member who is not either an officer [...]...
66. Lot Isolated Lot Isolated, Not Exempt From the book The Clergyman's Hand-book of Law, about Lot Isolated, Not Exempt (1): A lot isolated from the other property of the church of a congregation, is not exempt because the congregation intends to build a church thereon in the future, and actually did [...]...
67. Money Control Money, Control From the book The Clergyman's Hand-book of Law, about Money, Control (1): Money raised by a Catholic congregation for the purpose of building a church does not come under the absolute control of the bishop or priest, although put into the hands of the latter for safe [...]...
68. Regular Church, Regular From the book The Clergyman's Hand-book of Law, about Church, Regular (1): In church organizations those who adhere to the regular order of the church, legal and general, though a minority, are the true congregation and constitute the corporation if incorporated.128 [...]...
69. Seceders "Church," Seceders, Debt From the book The Clergyman's Hand-book of Law, about "Church," Seceders, Debt (1): Where a religious society amended its constitution as provided therein, those who adhered to the amended constitution constituted the"church," and [...]...
70. Standard Doctrine, Standard From the book The Clergyman's Hand-book of Law, about Doctrine, Standard (1): To ascertain the tenets and doctrines of a church, resort must be had to history and to prior and contemporary standard writings of its members on theology.31 Resources Notes and References [...]...
71. Deficiency Judgment Mortgage, Deficiency Judgment From the book The Clergyman's Hand-book of Law, about Mortgage, Deficiency Judgment (1): Where a mortgage had been foreclosed against church property before the congregation was incorporated, a deficiency judgment can not be rendered against such church [...]...
72. Lawful Acts, Void, Lawful, Clerk From the book The Clergyman's Hand-book of Law, about Acts, Void, Lawful, Clerk (1): The acts of a majority of the members of a corporation, unless done according to law and in conformity with the charter and by-laws of the corporation, are absolutely null and [...]...
73. Ambiguous Provision Donor, Ambiguous Provision From the book The Clergyman's Hand-book of Law, about Donor, Ambiguous Provision (1): The religious convictions of the donor may be shown for the purpose of construing an ambiguous provision of a deed or will.488 Resources Notes and References Charles M. [...]...
74. Competent Witness From the book The Clergyman's Hand-book of Law, about Competent Witness (1): Everybody who has the use of reason and understands the import of an oath is a competent witness. Resources See Also Competency Resources Notes and References Charles M. Scanlan, The Clergyman's [...]...
75. Factions Factions, Authority From the book The Clergyman's Hand-book of Law, about Factions, Authority (1): Where two factions of a church, each claiming to be the church, try members of the other faction, a court may determine which of the factions is the authorized authority or that the action [...]...
76. Pew Rights Catholic Church, Pew Rights From the book The Clergyman's Hand-book of Law, about Catholic Church, Pew Rights (1): In the Catholic Church, by the canon law, the ownership in or control over a pew is forbidden to laymen. Notwithstanding that, if the party holding the title violates the [...]...
77. Quit-Claim Condition, Quit-Claim From the book The Clergyman's Hand-book of Law, about Condition, Quit-Claim (1): After conveying land upon a specified condition, the grantor then gave a quit-claim deed, and the court held that that relieved the grant from the condition.512 Resources Notes and [...]...
78. Revert Abandoned, Revert From the book The Clergyman's Hand-book of Law, about Abandoned, Revert (1): Land granted to trustees and their successors forever in trust to erect a Methodist church, according to its rules and discipline, which was used for such church for a long time and then [...]...
79. Sale in Perpetuity Trustees, Sale in Perpetuity From the book The Clergyman's Hand-book of Law, about Trustees, Sale in Perpetuity (1): Without authority of law the trustees of a church can not make an absolute sale in perpetuity of a pew without any reservation of rent.431 The sale of a pew in a church [...]...
80. Guardianship Estates, Guardianship From the book The Clergyman's Hand-book of Law, about Estates, Guardianship (1): Besides the jurisdiction already referred to, the ecclesiastical court had jurisdiction over the settlement of estates and the guardianship of children, which varied in different [...]...
81. Special Damages Business or Property, Special Damages From the book The Clergyman's Hand-book of Law, about Business or Property, Special Damages (1): A company incorporated for the purpose of transacting business which would include hospitals, schools, and industrial institutions, may maintain an action [...]...
82. Burial Faith, Burial From the book The Clergyman's Hand-book of Law, about Faith, Burial (1): Whether a person died in the faith of the Roman Catholic Church so as to be entitled to burial in its cemetery, is not a question within the jurisdiction of civil courts, but must be decided by the [...]...
83. Clergy Bishop, Discipline, Clergy From the book The Clergyman's Hand-book of Law, about Bishop, Discipline, Clergy (1): Within his diocese the bishop is the executive officer, the legislature, and the judiciary; but he is subject to the superior authority of the Church. The bishop may make laws [...]...
84. Clergyman From the book The Clergyman's Hand-book of Law, about Clergyman (1): A clergyman is a man in holy orders or one who has been ordained in accordance with the rules of his church or denomination.54 Resources Notes and References Charles M. Scanlan, The Clergyman's Hand-book of Law. [...]...
85. Ground Charter, Ground, Members From the book The Clergyman's Hand-book of Law, about Charter, Ground, Members (1): An application for a charter to incorporate a cemetery need not specifically locate the ground.761 The charter or the articles of incorporation, or by-laws made under them, [...]...
86. Secular Courts Remedies, Secular Courts From the book The Clergyman's Hand-book of Law, about Remedies, Secular Courts (1): In cases involving church doctrine and discipline only, all remedies within the church must be exhausted by a member before the secular courts will interfere, if they will [...]...
87. Official Communication Official Communication, Privileged From the book The Clergyman's Hand-book of Law, about Official Communication, Privileged (1): An official communication between authorities of the church or an authority and a member of the church concerning a church matter or church members and not made [...]...
88. Parish From the book The Clergyman's Hand-book of Law, about Parish (1): A parish has two meanings. In some States it is a minor division of public territory; but in States where there is no such division of territory, the State using instead "county" or "town," a parish [...]...
89. Swearer Newspaper, Profane Swearer From the book The Clergyman's Hand-book of Law, about Newspaper, Profane Swearer (1): A newspaper in a notice of the death of a church member has the right to state that he was a profane swearer, if such was the case.695 Resources Notes and References [...]...
90. Harmony Title, Harmony, Division From the book The Clergyman's Hand-book of Law, about Title, Harmony, Division (1): The title to church property in a divided congregation is in that part of the congregation which acts in harmony with the law of the denomination; and the ecclesiastical laws and [...]...
91. Presumptions Presumptions, Usage From the book The Clergyman's Hand-book of Law, about Presumptions, Usage (1): The usage of a church or the laws of its organization as a religious society, if they are to be considered in deciding legal controversies, must be proved as facts.407 In the absence of [...]...
92. Rebuilding Rebuilding, Remodeling From the book The Clergyman's Hand-book of Law, about Rebuilding, Remodeling (1): An injunction was granted on the bill of pewholders, restraining the authorities of the church from pulling it down, as they were going to use the materials in the erection of a new [...]...
93. Corporation Tax Resources See Also Taxation Public Finance Public Policy Tax Law Financial Regulation...
94. Cooperative Corporation Resources See Also Cooperative...
95. China Trade Act Corporation A corporation formed under the China Trade Act of 1922, which provided special tax incentives to firms engaged in trade with China. Following the collapse of the Nationalist government on mainland China in 1949, the act was amended to cover only Taiwan and Hong Kong. In its final form, the act provi......
96. Commodity Credit Corporation A Federally chartered corporation controlled by the U.S. government and administered as a part of the Department of Agriculture. In addition to various domestic agricultural stabilization efforts, the CCC administers three foreign sales promotion programs.......
97. Associated Foreign Corporation As used in conjunction with the operations of a DOMESTIC INTERNATIONAL SALES CORPORATION (read this and related legal terms for further details), or DISC, a foreign corporation in which neither the DISC nor members of t......
98. Edge Act Corporation A federally chartered bank formed under authority of the Edge Act of 1919 (Section 25 A of the Federal Reserve Act) exclusively for the purpose of engaging in international transactions. The Edge Act permits a commercial bank, through the formation of a subsidiary under Section 25 (A), to overcome t......
99. Foreign Corporation A corporation operating in a jurisdiction other than the one in which it was chartered. For example, a corporation chartered in France and one chartered in Connecticut would be equally foreign in New York. Occasionally the term alien corporation is applied to distinguish corporations chartered in no......
100. Section 931 Corporation It was a corporation operating in various U.S. possessions that, under certain circumstances, might accrue significant tax benefits. So named for Section 931 of the Internal Revenue Code, a firm might be exempt from Federal income tax on U.S. possessions income (so long as the dividends were not dis......
101. Multinational Corporation Multinational Corporation in International Trade Meaning of Multinational Corporation (MNC), according to the Dictionary of International Trade (Global Negotiator): A large commercial organization with affiliates operating companies in a number of different countries. A typically one normally [...]...
102. Charitable Corporation Resources See Also Charitable organizations, infra...
103. Close Corporation Close or Closely Held Corporation Resources See Also Corporation...
104. Eastern Air Lines, Inc. v. Gulf Oil Corporation Contents Eastern Air Lines, Inc. v. Gulf Oil Corporation 1975 Southern District of Florida Key concepts: • Requirements/outputs contracts. UCC ... Read more...
105. Domestic International Sales Corporation Commonly known by the acronym DISC, a U.S.-chartered corporation, qualified with the Internal Revenue Service, that derives virtually all of its income from export sales and export-related activities. A properly qualified DISC was permitted to defer indefinitely tax on a portion of its income. The D......
106. Foreign International Sales Corporation A foreign corporation controlled by a Domestic International Sales Corporation(read this and related legal terms for further details) (DISC) that satisfies the requirements of Section 993 of the Internal Reve......
107. Less Developed Country Corporation As provided in the 1980s in U.S. tax laws, a firm that derived at least 80 percent of its income in less developed countries (LDCs) and had at least 80 percent of its assets in LDCs. Dividend and interest income from such corporations was excluded from foreign-base company income to the extent it wa......
108. Overseas Private Investment Corporation An independent agency of the U.S. government formed in 1971 to stimulate private investment in overseas projects, usually in developing countries. In furthering this objective, OPIC provides: (1) cost assistance, up to 75 percent, in the establishment of the foreign venture; (2) direct loans [...]...
109. Private Export Funding Corporation A private corporation organized in 1970 for the purpose of providing medium- to long-term financing to foreign buyers of U.S. goods and services. PEFCO is owned by commercial banks and major industrial firms. Working capital is raised by issuance of commercial paper, guaranteed by the U.S. Export-Im......
110. Related Foreign Export Corporation According to Section 933 of the Internal Revenue Code, any foreign corporation that satisfies the definition of a foreign international sales Corporation, A Real Property Holding Company, or an Associated Foreign Corporation (qq.V.). See Domestic International Sales Corporation.......
111. Western Hemisphere Trading Corporation A domestic U.S. corporation which was entitled to certain tax advantages under Sections 921-22 of the Internal Revenue Code. To qualify, a U.S.- chartered corporation must (1) derive at least 95 percent of its gross income for the three-year period immediately preceding the taxable year (or througho......
112. International Finance Corporation International Finance Corporation Outline The IFC is part of the World Bank. It came into force in 1956 pursuant to the Articles of Agreement of the International Finance Corporation of 1955. Its main function is to facilitate the supply of funds to private enterprises in order to encourage or [...]...
113. Banking And Financing Controlled Foreign Corporation A controlled foreign corporation within the meaning of the Internal Revenue Code, that derives more than 50 percent of its gross income from retail or commercial banking, negotiable paper transactions, or investment banking.......
114. C Corporation Resources See Also Corporation...
115. Discount Corporation A firm engaged in the discounting and trading of bills of exchange and acceptances. In the United States these functions are usually performed by commercial banks, although there are entities other than commercial banks specializing in this area.......
116. Domestic Corporation A corporation operating in the jurisdiction in which it was formed; hence, a New York corporation is a domestic corporation in New York, but a foreign corporation everywhere else.......
117. Benevolent Corporation Resources See Also Charitable corporation...
118. Aggregate Corporation Resources See Also Corporation...
119. Aggressor Corporation Resources See Also Leveraged buyout Tender offer...
120. Eastern Air Lines v. Gulf Oil Corporation Contents Eastern Air Lines v. Gulf Oil Corporation 1975 US District Court Southern District of Florida • Gulf promised to ... Read more...