Examlex
Which type of indorsement indicates that a specific person should be paid from the instrument?
De Jure Corporation
A corporation that has fully complied with all legal requirements for incorporation and therefore enjoys all the powers and rights granted to corporations under the law.
De Facto Corporation
A company that operates as if it were legally incorporated, even though it has not completed the necessary legal formalities and documentation.
Corporation By Estoppel
Corporation by estoppel is a legal doctrine preventing someone from denying a business's corporate status when they have treated it as a corporation in previous transactions.
Novation
In a contract, the substitution of a third party for one of the original parties. The duties remain the same under the contract, but one original party is discharged and the third party takes that original party’s place.
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