Examlex
Which of the following links employees in all directions, ranging from the president through middle management, support staff, and line employees?
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.
Implied Corporate Powers
Powers not explicitly stated in a corporation's charter or bylaws but are necessary to conduct the day-to-day operations.
Role Clarity
The extent to which an employee understands their job responsibilities, duties, and expectations.
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