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LSDefine

Simple English definitions for legal terms

continuity of existence

Read a random definition: justitia

A quick definition of continuity of existence:

Continuity of Existence: This means that even if the owner of a company dies, becomes unable to work, or the company goes bankrupt, the company still exists. It doesn't just disappear. This is especially important for corporations.

A more thorough explanation:

Definition: Continuity of existence, also known as the continuity-of-life doctrine, is the principle that the withdrawal, incapacity, bankruptcy, or death of the owner of an entity (especially a corporation) does not end the entity's existence.

Example: Let's say John owns a corporation. If John dies, the corporation will continue to exist and operate as usual. The same applies if John becomes incapacitated or bankrupt. The corporation is a separate legal entity from John, and its existence is not dependent on his personal circumstances.

This principle is important because it allows corporations to continue operating even if there are changes in ownership or management. It also provides stability and continuity for employees, customers, and other stakeholders.

continuity-of-entity doctrine | continuity of interest

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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