Understanding the difference between "Bylaw" and "Law" is crucial. "Bylaws" are more localized and specific, tailored to the needs of a particular group or community. A city might enact bylaws regarding local park usage or noise restrictions. In contrast, "Laws" are broader, often applying ...
Addresses shareholder rights and liabilities. Shareholder lawsuits for mismanagement fall under corporate law. 10 Common Curiosities Do commercial laws vary by country? Yes, while there are international trade principles, commercial laws can vary significantly between jurisdictions. 15 Is knowledge of commer...
Aspiring entrepreneurs often face the critical decision of choosing between an LLC and a corporation as their preferred business structure. Both are separate legal entities that offer limited liability protection to their owners, shielding personal assets from business debts and lawsuits. However, they d...
While people commonly use the terms interchangeably, there are distinct differences between them. Despite the differences, the two terms also have a few things in common. In considering the connection between association vs. organization, the members of both bodies have a common interest or purpose....
The association membership elects a board of directors to act on its behalf as administrators of the community. The association enforces the condominium bylaws; levies fees and assessments for maintenance of common areas; creates the budget; and insures the structure against fire, liability and oth...
10. Board and management issues. 11. Liability Issues 12. Questions © 2010 AKT LLP 4 Ron’s Observations • The distinction between governance and management varies from organization to organization, and from time, within each organization. • When the board steps out of its role, it can...
Cities can have local ordinances or bylaws, but they typically fall under the broader laws of the province or country. 4 Can the name of a City and a Province be the same? Yes, in some places, a city within a province can share the same name, such as New York City in New York st...
The branch of government charged with putting into effect a country's laws and the administering of its functions. Officer One who holds an office of authority or trust in an organization, such as a corporation or government. Executive (Computers) A set of coded instructions designed to process...