If you own land, you presumably received a document that says “Status of Title” for that land. Many titles include a line that says: “Excluding all mines and minerals” or “Subject to the reservations and provisos contained in the grant from the Crown”. This means that you have the exclusive surface rights to that property,…

Generally directors and officers of a corporation are not personally liable for the obligations of a corporation, with certain exceptions. Directors and officers need to understand when they may be held personally liable for the actions or inactions of the corporation. The law is very clear regarding a directors and officers’ duty to understand their…

Yes it does. A corporation, whether non-profit or for profit, is a legal “person”.  Once a corporation has dissolved, it is no longer an active legal entity.  Dissolution for a corporation is similar to when an individual has died. An incorporated body may be dissolved intentionally or unintentionally. The unintentional dissolutions are usually due to…

It is fairly common knowledge that businesses are required to keep their accounting records for seven years. However, many people are not aware that they should be keeping certain records, like their general ledgers, forever in some cases. Take for instance, the family farm which has been operated for thirty years and is being passed…

Anyone who holds assets for the benefit of someone else is in a position of trust. These individual controlling the assets are called “Trustees”, and the people entitled to the benefits of those assets are called “beneficiaries”. There are different types of Trustees: executors, administrators for an estate and attorneys acting under a Power of…

RST (Retail Sales Tax) and PST (Provincial Sales Tax) are the same thing. Businesses with taxable sales and services are required to register with the Manitoba Taxation Division and collect and remit RST. Generally, RST is applicable on all goods or services unless there is an exemption. One notable exemption is on a rollover of…

The Corporations Act (Manitoba) allows the directors of non-profit or charitable organizations to pass by-laws governing internal procedures and corporate structures. Many organizations take the initial step of incorporation but fail to implement by-laws. The following are a few of the areas and issues that by-laws should cover. Notice of Meetings Well drafted by-laws provide…