What is joint venture?
Joint venture is formed for a single business undertaking such as building and designing freight containers to be sold specifically to one company.
3 exception that might hold shareholders of a Crop personally liable:
Commingle personal funds, inadequate capitalization, and committing fraud on existing creditor
It normally allows recovery by 3rd party ONLY if there was privity of contract btw the accountant and 3rd party.
What would support a finding of constructive fault?
Gross negligence/recklessness in applying GASS
Main provisions of FCPA (Foreign corruption practice act of 1977) ?
- Address accounting transparency requirements under Securities exchange act of 1934 (not just about foreign issue) – effect only SEC-registered CO.
- Bribery of foreign officials. – effect all U.S. Company
ERISA’s vesting policy, $ contributed to a pension plan must fully vest within?
Employee contributed—fully vested IMMEDIATELY
Employer contributed—fully vested within 5 yrs