A business carried on by an individual person, for which that person remains liable for all liabilities of the business. The par value of shares multiplied by the number of shares outstanding. Stock An equity or ownership interest in a corporation, measured in shares. A person's or entity's ownership of shares is demonstrated by stock certificates. Stock Certificate A written instrument that shows ownership of shares in a corporation, and usually sets forth the name of the shareholder, number of shares authorized and outstanding, and states any restrictions imposed on the transfer of such shares of stock.
Stockholder See shareholder.
A record book which lists the owners of shares of stock in a corporation. An act perfomed without any authority to act on the subject. An act is ultra vires when a corporation is without authority to perform it under any circumstances or for any purpose. Thus a contract made by a corporation beyond the scope of its corporate powers us unlawful. Nearly all states allow directors or shareholders to act without a meeting if they each give their consent to specific corporate actions in writing.