Secured Transaction, Personal Liability, and Other Topics
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1. In secured transactions-type legislation, such as a Conditional Sale Act, the Bills of Sale Act, the Personal Property Security Act, etc., what is the purpose of a registration?
2. Indicate three examples where a director can be personally liable for the debts of the corporation.
3. How can a corporation be brought to an end?
4. Give three examples of matters covered by copyright legislation.
5. Indicate what kinds of restrictions there are on an employer's right to dismiss an employee.
6. Explain under what circumstances a partnership can come to an end.
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This solution provides a detailed discussion and explanation of the given business law topics.
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Business Law
1. In secured transactions-type legislation, such as a Conditional Sale Act, the Bills of Sale Act, the Personal Property Security Act, etc., what is the purpose of a registration?
The purpose of a registration is to ensure that the buyer or investor has been given as much material information as possible regarding the security being offered for sale. It also prohibits or reduces the chance for deceit, misrepresentation or any form of fraud during the sale. It enables the purchaser to have all that they need to make an informed decision. A registration also makes it fair to all parties, from the individual seller to one or multiple prospective buyers. It then serves the purpose to make the seller legally liable for any falsification or fraud.
2. Indicate three examples where a director can be personally liable for the debts of the corporation.
Three examples where a director can be personally liable for the debts of the corporation include where there are taxation debts. ...
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