Describe the Circumstances Under Which a Corporation, Its Directors, or Its

question 162

Essay

Describe the circumstances under which a corporation, its directors, or its officers might face criminal liability.

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Definitions:

Prohibited

Prohibited means officially forbidden or disallowed by law, rule, or other authority.

Void

A term describing a contract or legal agreement that is null, having no legal force or effect from the beginning.

Minor

A person under the age of legal majority, typically 18 years in most jurisdictions, who has certain restrictions on their legal capacities and responsibilities.

Voidable

Describes a contract or agreement that can be legally declared invalid but remains enforceable until an action is taken to void it.