About: Corporations (Upper Canada)

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There were two types of corporations at work in the Upper Canadian economy: the legislatively chartered companies and the unregulated joint stock companies. These two business forms had different legal standing; chartered corporations had a "separate personality" - they were a legal person quite distinct from its members or shareholders, a legal fiction which protected those shareholders with limited liability. In contrast, joint stock companies were made illegal by the English Bubble Act of 1720. Joint stock companies were considered extensive partnerships under common law, and English legislation limited these to a maximum of six partners. Without incorporation, the company was not considered a "separate personality." It could not hold property; this was held by trustees, who usually had

Attributes	Values
rdf:type	mean of transportation
rdfs:label	Corporations (Upper Canada) (en)
rdfs:comment	There were two types of corporations at work in the Upper Canadian economy: the legislatively chartered companies and the unregulated joint stock companies. These two business forms had different legal standing; chartered corporations had a "separate personality" - they were a legal person quite distinct from its members or shareholders, a legal fiction which protected those shareholders with limited liability. In contrast, joint stock companies were made illegal by the English Bubble Act of 1720. Joint stock companies were considered extensive partnerships under common law, and English legislation limited these to a maximum of six partners. Without incorporation, the company was not considered a "separate personality." It could not hold property; this was held by trustees, who usually had (en)
foaf:depiction
dcterms:subject	Economic history of Ontario Upper Canada
Wikipage page ID	38125021 (xsd:integer)
Wikipage revision ID	1114499988 (xsd:integer)
Link from a Wikipage to another Wikipage	Canada Company Quebec City Halifax Regional Municipality, Nova Scotia Davenport, Iowa Hudson's Bay Company John Rolph (politician) John Strachan Joint stock companies Peter Perry (politician) Robert Baldwin United States Desjardins Canal Limited liability Saint John, New Brunswick Legal personality England Great Britain Great Lakes Westmount, Quebec London Ship canal Clergy Corporation Common law David Willson (1778–1866) Bank of British North America Bank of Upper Canada Toronto Trustees William Allan (banker) William Hamilton Merritt William Lyon Mackenzie William Warren Baldwin Farmer's Bank of York, Upper Canada Dundas, Ontario Francis Bond Head Francis Hincks Bank of the People Economic history of Ontario North America Parliament of the United Kingdom Partnerships Family Compact Farmers' Storehouse Company PS Frontenac The Reform Movement (Upper Canada) James Hervey Price James Lesslie (publisher) The Children of Peace Upper Canada Lake Erie Lake Ontario Thomas Parke (architect) Port Colborne Port Weller, Ontario St. John's, Newfoundland and Labrador St. Lawrence Market South Bubble Act Sharon Temple Upper Canada Chartered companies Responsible government First Welland Canal Poor Law Amendment Act 1834 Toronto Mechanics' Institute Workhouses John Beverly Robinson
sameAs	Corporations (Upper Canada) Corporations (Upper Canada) Corporations (Upper Canada)
dbp:wikiPageUsesTemplate	dbt:Convert dbt:Reflist dbt:History_of_Ontario
thumbnail	wiki-commons:Special:FilePath/SharonTemple.jpg?width=300
has abstract	There were two types of corporations at work in the Upper Canadian economy: the legislatively chartered companies and the unregulated joint stock companies. These two business forms had different legal standing; chartered corporations had a "separate personality" - they were a legal person quite distinct from its members or shareholders, a legal fiction which protected those shareholders with limited liability. In contrast, joint stock companies were made illegal by the English Bubble Act of 1720. Joint stock companies were considered extensive partnerships under common law, and English legislation limited these to a maximum of six partners. Without incorporation, the company was not considered a "separate personality." It could not hold property; this was held by trustees, who usually had to provide a bond or security. Without incorporation, the company could neither sue nor be sued at law. And without incorporation, shareholders were personally responsible for the debts to the company to the full extent of their personal property; shareholders were not protected by limited liability. There were, then, significant legal hurdles that made the joint stock company an unwieldy form of partnership. Despite the difficulties in the unincorporated joint stock company form, it became increasingly popular in the late eighteenth century in Britain as the means through which public works were carried out. General public feeling was that all corporations, chartered or otherwise, should only be founded for the public benefit. Although a limited number of companies were formed for the purpose of for-profit trade, others were simply a way of controlling forms of common property. (en)
gold:hypernym	Types
prov:wasDerivedFrom	wikipedia-en:Corporations_(Upper_Canada)?oldid=1114499988&ns=0
page length (characters) of wiki page	19305 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Corporations_(Upper_Canada)
is Link from a Wikipage to another Wikipage of	Agriculture in Upper Canada
is foaf:primaryTopic of	wikipedia-en:Corporations_(Upper_Canada)

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