de facto corporation

de facto corporation
de facto corporation de facto corporation corporation

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de facto corporation UK US noun [C]
in the US, a corporation that is allowed to continue to exist, although it has not been officially made a corporation by law: »

The court found that, when a person buys stock of a de facto corporation, he cannot avoid payment by showing that the corporation was not legally organized.


Financial and business terms. 2012.

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Look at other dictionaries:

  • de facto corporation — A business that has not completed all of the legal steps to become a corporation will be treated as a corporation by the court to shield the directors, officers, and shareholders who in good faith thought they were operating the business as a… …   Law dictionary

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  • 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… …   Ballentine's law dictionary

  • de facto corporation — noun A business entity that is treated as a corporation for certain purposes despite its failure to meet all of the formal requirements imposed by law for a corporation to exist …   Wiktionary

  • de facto corporation —    (Latin: by fact by virtue of existence rather than right)    A company that functions as if it were a corporation, although it has not completed the legal process of becoming incorporated (e.g., by not yet filing its articles of incorporation) …   Business law dictionary

  • 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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