de facto corporation

de facto corporation
A corporation in fact, an apparent corporate organization, asserted to be a corporation by its members, and actually acting as such, but lacking the creative fiat of the law-an organization with color of law, exercising corporate rights and franchises, the right of which to corporate functions and attributes is complete as against all the world, except the sovereign. 18 Am J2d Corp § 49. See de facto director.

Ballentine's law dictionary. . 1998.

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  • corporation — cor·po·ra·tion /ˌkȯr pə rā shən/ n [Late Latin corporatio, from Latin corporare to form into a body, from corpor corpus body]: an invisible, intangible, artificial creation of the law existing as a voluntary chartered association of individuals… …   Law dictionary

  • Corporation — A legal person that is separate and distinct from its owners. A corporation is allowed to own assets, incur liabilities, and sell securities, among other things. The New York Times Financial Glossary * * * corporation cor‧po‧ra‧tion… …   Financial and business terms

  • corporation — A legal entity that is separate and distinct from its owners. A corporation is allowed to own assets, incur liabilities ( liability), and sell securities, among other things. Bloomberg Financial Dictionary An entity created by or under the… …   Financial and business terms

  • Corporation — This article is about business corporations. For other uses, see Corporation (disambiguation). Corporate redirects here. For the Bollywood film, see Corporate (film). A corporation is created under the laws of a state as a separate legal entity… …   Wikipedia

  • corporation de facto — See de facto corporation …   Ballentine's law dictionary

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