ILEC
Unit 2: Company law: company formation and management
Unit 2: Company law: company formation and management
Set of flashcards Details
| Flashcards | 50 |
|---|---|
| Language | English |
| Category | English |
| Level | Other |
| Created / Updated | 25.10.2011 / 11.11.2015 |
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letter of advice / legal opinion
phrases with a signalling function
summarising facts
Our opinions and advice set forth below are based upon your account on the circumstances giving rise to tihis dispute, a summary of which is as follows.
Based on information provided to us, we understand that...
to summarise the facts of the case...
letter of advice / legal opinion
phrases with a signalling function
Identifying legal issue
The legal issue seems to be...
The issue in this case is wheter the...
letter of advice / legal opinion
phrases with a signalling function
Reffering to relevant legislation / regulations
The section which is relevant for present purposesprovides that...
The section makes express reference to...
As the law stands present, ....
The bylwas state that...
The law in this jurisdiction requires...
The statutes give wide leeway...
letter of advice / legal opinion
phrases with a signalling function
Reffering to previous court decisions
The court has held that...
We have found cases or interpretation of this law which argue that...
letter of advice / legal opinion
phrases with a signalling function
Drawing conclusions
We therefore believe that...
It is possible that the court will take this into consideration and hold that.
the court might than hold that...
Courts are usually reluctant to...(zurückhaltend)
The facts in this case simply do nocht justify...
I therefore conclude that...
letter of advice / legal opinion
phrases with a signalling function
Indicationg options
In light of the aforesaid, you have several courses of action / alternatives / options open to you.
letter of advice / legal opinion
phrases with a signalling function
Closing
I await further instructions at your earliest convenience.
Please contact us if you have any questions about the matters here discussed, or any other issues.
etwas bestimmen, definieren,
to stipulate, to specify, to prescribe
nachfolgend, darauffolgend
succeeding, ensuing, subsequent
Spielraum, Bandbreite,
margin, leeway, latitude
etwas verhindern, hindern
to preclude (sth.), to forestall sth., to prevents sth.
perpetrate
verüben, begehen
to perpetrate a crime
assume
unterstellen, vermuten
to think that something is true, although you do not have definite proof [= presume].
unterlassen
to omit
redemption
Ablösung, Einlösung
Redemption in legal terminology refers to a seller's right to repurchase something sold by returning the purchase price to the buyer.
distinct from
verschieden von
clearly different or belonging to a different type:
perpetually
dauern, fortwährend, ständig
continuing all the time without changing or stopping [= continuous]:
to perpetrate sth
etwas begehen
to perpetrate fraud
act ultra vires
über die Befugnisse hinausgehend
corporate veil
Haftungsbeschränkung
separation between the corporation and its shareholders such that the shareholders will not be held personally liable for corporate depts
partnership
Personengesellschaft
- association of owners
- no legal entity, but certain rules of partnership law treat a partnership as if it were a legal entity
- personal liability
company
Kapitalgesellschaft
- legal person, distinct from its officers and shareholders
- no personal liability
forming of a company (US)
- articles of incorporation
- bylaws
articles of incorporation
Gründungsurkunde
states the objects of the company and the details of the capital
bylaws
Statuten
contains provisions for internal management of the company
managing director of a company
is appointed to carry out and control the day-to-day affairs of the company
Duties:
- duty of care (Sorgfaltspflicht)
- fiduciary duty (Treuepflicht)
manager of a company
is delegated supervisory control of the affairs of the company
balance sheet and profit-and-loss statement
a company's state of health is reflected in its accounts
company secretary
chief administrative officer: accounting and finance duties, personnel administration, security with documentation etc.
liquidator
appointed by a court, the company or its creditors to wind up the company's affairs
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