The Principle That a Person Dealing with a Corporation Is

question 25

True/False

The principle that a person dealing with a corporation is entitled to assume that its internal procedural rules have been followed unless it is apparent that such is not the case is known as the indoor management rule.

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Definitions:

Statutory

Related to or enacted by a statute, referring to laws passed by a legislative body.

Judgment

A formal decision or order given by a court regarding the legal disputes presented to it.

Lien

A creditor's legal claim on a debtor's property, enduring until the associated debt is fully repaid.

Types Of Liens

Various legal claims or holds on property as security for the payment of a debt or obligation.