Also known as: shares · shareholder · shareholders · stock · equity interest
Written by attorneys · grounded in primary & secondary sources — see below
2 senses
An allotted portion of ownership, profits, distributions, or liability allocated to a person or entity.
An allotted portion of ownership, profits, distributions, or liability allocated to a person or entity.
Sophia Singh refers a client to a lawyer in another firm for a complex matter. The two lawyers agree to divide the fee, and the client signs a writing confirming the arrangement and the share each lawyer will receive. The written client consent satisfies the rule governing division of fees between lawyers not in the same firm.
Sterling Dynamics sells a third-party manufactured machine to Summit Bank knowing the equipment is likely to cause injury when used. Sterling fails to warn the bank or others expected to share in its use. Sterling is subject to liability for bodily harm caused by the dangerous condition.
A common criminal objective or purpose that two or more persons must actually intend to accomplish together.
Sarah Sullivan and Steven Silva discuss robbing a bank. Sarah intends to follow through with the plan, but Steven is an undercover officer who only pretends to agree and has no intention of committing the crime. Because Steven does not share the criminal objective, Sarah cannot be convicted of conspiracy.
A common criminal objective or purpose that two or more persons must actually intend to accomplish together.
Each sense below has its own examples, sources, and questions.
Simone Sanders sues in federal court on a claim meeting the amount-in-controversy requirement with complete diversity. She joins an additional plaintiff whose claim falls short of the jurisdictional amount but arises from the same facts. The court exercises supplemental jurisdiction because the claims share a common nucleus of operative fact.
Seth Shapiro and Stephen Shaw form a general partnership. At year end the partnership earns profits. Each partner is entitled to an equal share of the distributions and bears losses in the same proportion.
Silverline Industries founder Sophia Singh gives her daughter Simone Sanders $200,000 during her lifetime. The founder dies intestate. Because a contemporaneous writing declares the gift an advancement, the amount is treated as an advancement against Simone's intestate share.
The division is permitted only if the client agrees to the arrangement, including the share each lawyer will receive, and the agreement is confirmed in writing. The total fee must also be reasonable.
Each partner is entitled to an equal share of the partnership distributions. Partners are chargeable with a share of losses in proportion to their share of distributions, except in a limited liability partnership.
The gift is treated as an advancement only if the decedent declared in a contemporaneous writing or the heir acknowledged in writing that the gift is an advancement and that it is to be taken into account in computing the division of the estate.
Each conspirator must actually intend to carry out the unlawful agreement. If one party merely pretends to agree without sharing the illicit purpose, the other cannot be convicted of conspiracy at common law.
…elicited oral admissions, and in three of them, signed statements as well which were admitted at their trials. They all thus share salient features—incommunicado interrogation of individuals in a police-dominated atmosphere, resulting in self-incriminating statements without full warnings of constitutional rights. An…