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Common Law
A body of legal principles that derives from court decisions over time rather than from statutes or constitutions, emphasizing precedent in judicial decisions.
Creditor
An individual or institution that lends money or extends credit to another party, known as the debtor.
Shareholder Rights
The entitlements and protections granted to individuals or entities that own shares in a corporation, including voting on corporate matters.
Subchapter S Corporation
A type of corporation created through an IRS tax election to pass corporate income, losses, deductions, and credits through to shareholders for federal tax purposes.
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