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A dormant partnership (stille Gesellschaft) comes into existence when a person makes a contribution to an existing enterprise (company, partnership, sole proprietorship) and shares in the latter's profits. The dormant partner has no liability for the debts of the enterprise; in case of insolvency of the enterprise he is a creditor with the ...
Example: A and B each contribute $10,000 in cash to form the AB Partnership. AB buys real property for $120,000, paying $20,000 and giving a recourse note for $100,000. The partnership agreement allocates all items equally to the partners. To determine each partner's economic risk of loss, a constructive liquidation analysis must be performed.
The Dormant Commerce Clause, or Negative Commerce Clause, in American constitutional law, is a legal doctrine that courts in the United States have inferred from the Commerce Clause in Article I of the US Constitution. [1] The primary focus of the doctrine is barring state protectionism.
When Congress began to engage in economic regulation on a national scale, the Court's dormant Commerce Clause decisions influenced its approach to Congressional regulation. In this context, the Court took a formalistic approach, which distinguished between services and commerce, manufacturing and commerce, direct and indirect effects on ...
1) A partnership firm is not a legal entity apart from the partners constituting it. It has limited identity for the purpose of tax law as per section 4 of the Partnership Act of 1932. [24] 2) Partnership is a concurrent subject. Contracts of partnerships are included in the Entry no.7 of List III of The Constitution of India (the list ...
Gibbons v. Ogden, 22 U.S. (9 Wheat.) 1 (1824), was a landmark decision of the Supreme Court of the United States which held that the power to regulate interstate commerce, which is granted to the US Congress by the Commerce Clause of the US Constitution, encompasses the power to regulate navigation.
A historic example concerns the US car industry, but the example is sharply disputed by Coase (2000). [5] Fisher Body had an exclusive contract with General Motors (GM) to supply car body parts and so Fisher Body was the only company to deliver the components according to GM's specifications. In 1920, a sharp increase in demand occurred that ...
Beside that the HGB contains the regulations for the Offene Handelsgesellschaft (OHG) (English General partnership), the Kommanditgesellschaft (KG) (English Limited partnership) and the Stille Gesellschaft (stG) (English Dormant partnership). HGB provides regulation to accounting for limited companies. HGB also has a few penal provisions.