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Residual risk is defined in this context as the risk associated with differences between the stochastic inflows of assets into the organization and precedent agents' claims on the organization's cash flows. Precedent agents' claims on an organization's cash flows can consist of e.g. employees' salaries, creditors' interest or the government's ...
In 1868, the California Legislature authorized the first of many ad hoc Code Commissions to begin the process of codifying California law. Each Code Commission was a one- or two-year temporary agency which either closed at the end of the authorized period or was reauthorized and rolled over into the next period; thus, in some years there was no ...
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
New York Business Corporation Law section 1104-a, the holders of 20 per cent of voting shares of a non-public corporation may request that the corporation be wound up on grounds of oppression. NY Bus Corp Law §1118 and Alaska Plastics, Inc. v. Coppock , 621 P.2d 270 (1980) the minority can sue to be bought out at a fair value, determined by ...
Legal treatises are one of the most important sources of secondary authority about California law. These texts are expressly recognized as a source of 'unwritten law' by California's Code of Civil Procedure. [15] The two most influential treatises are published by The Witkin Legal Institute Summary of California Law and The Rutter Group. [16]
For example, as enacted in California, the Civil Code contains a definition of consideration, [4] a principle in the common law of contracts which has no direct equivalent in civil law systems. Similarly, it codifies the mailbox rule that communication of acceptance is effective when dropped in the mail, [ 5 ] [ 6 ] which is a feature unique to ...
The Department of Corporations was originally known as the "State Corporation Department" and was created by the "Investment Companies Act". [1] Governor Hiram Johnson appointed H.L. Carnahan as California's first Commissioner of Corporations in 1914. The Investment Companies Act faced immediate opposition but was approved by the voters in a ...
The California Code of Civil Procedure (abbreviated to Code Civ. Proc. in the California Style Manual [a] or just CCP in treatises and other less formal contexts) is a California code enacted by the California State Legislature in March 1872 as the general codification of the law of civil procedure in the U.S. state of California, along with the three other original Codes.