Very informative, thank you; in peace
By Anna von Reitz
One of the concepts that people are having a lot of trouble with is the difference between an unincorporated business and a corporation—- both are “corporate” in the sense of being fictitious, but one is engaged in private trade under full commercial liability and accrues only private property and the other seeks the benefit of limited liability and incurs the obligations to the State and accrues income by definition.
ABC Company does not equal ABC Corporation.
ABC Company is a “corporate entity” and can do business with ABC Corporation without breaking the “in kind” rule of contracts, but a living man named John Raymond Doe acting as a living man cannot. He can only contract with other living men.
This is what necessitated the adoption of “doing business as” names at the beginning of the 20th Century. More and more businesses were…
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