Other (Please explain)
I may be wrong.
Last edited by Guy Incognito; 03-29-11 at 07:55 PM.
Legal personality - Wikipedia, the free encyclopedia
Legal personality (also artificial personality, juridical personalty, and juristic personality) is the characteristic of a non-human entity regarded by law to have the status of a person.
A legal person (Latin: persona ficta), (also artificial person, juridical person, juristic person, and body corporate, also commonly called a vehicle) has a legal name and has rights, protections, privileges, responsibilities, and liabilities under law, just as natural persons (humans) do. The concept of a legal person is a fundamental legal fiction.
I may be wrong.
Are you coming to bed?
I can't. This is important.
Someone is WRONG on the internet! -XKCD
In the discovery process of tort, the guilty/negligent (however you want to word it) are identified and those individuals are sued for their shares of ownerships, down to personal holdings.
If the business, as a group, decides to market an unsafe product then all those who knew and still went a long with it, are wholly liable.
The main and most significant problem with limited liability is that those that commit the tort can shield their assets.
Last edited by Harry Guerrilla; 03-30-11 at 12:46 AM.
I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
"To waste, to destroy, our natural resources, to skin and exhaust the land instead of using it so as to increase its usefulness, will result in undermining in the days of our children the very prosperity which we ought by rights to hand down to them."~ Theodore Roosevelt (Message to Congress, Dec. 3, 1907)
Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb