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All Jurisprudence based

0 tracked cards Civil Law and Land Titles and Deeds

A corporation owes its sole shareholder a valid loan. They remain separate persons, and no transfer, payment, veil-disregard basis or other extinction exists. The company invokes ownership of all shares as confusion. Which is correct?

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Every shareholder loan is automatically extinguished. The shareholder necessarily owes the company the same debt. Share ownership alone does not merge the two legal characters in one person. Only the amount of stationery determines merger.

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