Corporate Immunity - Law Dictionary Search Results

Home Dictionary Name: corporate immunity

corporate immunity

corporate immunity see immunity ...

pierce pierced pierc·ing : to see through the usually misleading or false appearance of [the object of summary judgment is to the pleadings and allow a judgment on the merits "J. H. Friedenthal et al."] [the Internal Revenue Service may attempt to the plain meaning of the agreement "W. M. McGovern, Jr. et al."] pierce the corporate veil : to disregard the corporate entity and reach the personal assets of the corporation's controlling parties : hold the controlling parties (as officers or shareholders) of a corporation personally liable for wrongful acts or debts of the corporation [a…creditor in New York cannot pierce the corporate veil solely on grounds of inadequate capitalization "R. C. Clark"] compare corporate immunity at immunity NOTE: An action to pierce the corporate veil is usually grounded on the corporation's being an instrumentality or alter ego of the officers or shareholders and on some misuse (as fraud) of the officers' or shareholders' control over the...

piercing the corporate veil

piercing the corporate veil The judicial act of imposing personal liability on otherwise immune corporate officers, directors and shareholders for a corporation's fraudulent or wrongful acts. Source: FindLaw ...

business judgment rule

business judgment rule : a rule of law that provides corporate immunity to directors of corporations protecting them from liability for the consequences of informed decisions made in good faith ...

Immunity

Immunity, exemption, not likely to be affected.Immunity in short is no liability. It is an immunity from the legal power of some other person. The correlative of immunity is disability, Shanti Kumar R Chanji v. House Insurance Co. Ltd., AIR 1974 SC 1719 (1722).Immunity, is -- 'freedom or exemption from penality, burden or duty'. Immunity from prosecution under section 64 mean freedom from punishment during a proceeding instituted and carried on by law, Jasbir Singh v. Vipin Kumar Jaggi, AIR 2001 SC 2734. [See Narcotic Drugs and Psychotropic Substances Act (61 of 1985), s. 64]Means any exemption from a duty, liability, or service of process, esp., such an exemption granted to a public official, Black's Law Dictionary, 7th Edn., p. 752.Is an exemption or freedom from general obligation, duty, burden or penalty, Raja Ram Pal v. Hon'ble Speaker, Lok Sabha, (2007) 3 SCC 184....

privileges and immunities clause

privileges and immunities clause often cap P&I&C 1 : a clause in Article IV of the U.S. Constitution stating that the citizens of each state of the U.S. shall be entitled to all the privileges and immunities of citizens of the other states 2 : a clause in Amendment XIV to the U.S. Constitution stating that no state shall make or enforce any law that abridges the privileges or immunities of the citizens of the U.S. called also privileges or immunities clause ...

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Corporate Immunity - Law Dictionary Search Results