Si quid universitati debetur, singulis non debetur; nec, quod debet universitas, singuli debent

Si quid universitati debetur, singulis non debetur; nec, quod debet universitas, singuli debent
If anything is owing a corporation, it is not due each member; nor do the individuals owe what the corporation owes. See 1 Bl Comm 484.

Ballentine's law dictionary. . 1998.

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  • si quid universitati debetur singulis non debetur, nec quod debet universitas singuli debent — /say kwid yuwnavarsateytay dabiytar, sirjgyalas non dabiytar, nek kwod debat yuwnavarsataes siggyalay debant/ If anything be owing to an entire body [or to a corporation], it is not owing to the individual members; nor do the individuals owe that …   Black's law dictionary

  • Corporation — • An association recognized by civil law and regarded in all ordinary transactions as an individual. An artificial person Catholic Encyclopedia. Kevin Knight. 2006. Corporation     Corporation …   Catholic encyclopedia

  • business organization — Introduction       an entity formed for the purpose of carrying on commercial enterprise. Such an organization is predicated on systems of law governing contract and exchange, property rights, and incorporation.       Business enterprises… …   Universalium

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