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Is a corporation is a legal entity distinct from the person running the corporation?
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What is created by operation of law in corporation?
One thing created by operation of law in a corporation is the separate legal entity, which means the corporation is considered a legal "person" distinct from its owners. This allows the corporation to enter into contracts, sue and be sued, and own property in its own name. Additionally, the bylaws of a corporation are another key aspect created by operation of law, outlining how the corporation will be governed and managed.
A sentence for corporation?
A corporation is a group of people or corporation that has the permission to act as a single entity. Corporations have most of the rights and responsibilities that a person would have.
What is employing entity?
An employ entity or employment entity is a person, corporation, partnership or a group that hires out work to an individual, group or company for the purposes of completing tasks.
Does the attorney client privilege extend to the successor of a client?
If the original client is a legal entity (e.g. corporation, LLC), and another person then purchases ownership of that entity, then the entity is still legally the client.
What is the difference between a corporation and an association?
A corporation is a company that is authorized as a single entity. An association is more than one person joined together for a joint purpose.
What does the legal term 'natural person' mean in corporation law?
In corporation law, a natural person refers to an individual human being, as opposed to a legal entity such as a corporation or partnership. Natural persons have legal rights and obligations that are distinct from those of artificial entities.
What is an example of an artificial legal person?
An example of an artificial legal person is a corporation. These entities are recognized as having many of the same legal rights and responsibilities as natural persons, such as the ability to enter into contracts and own property.
What is the difference between a corporation and a commission?
The difference between a corporation and a commission is in their functions. A corporation if a government entity that serves the public while a commission is an investigative body set up for a particular task.
Why might it be important to structure your business as a C corporation even if you are the only person running the business?
Why might it be important to structureyour business as a c-corporation, even if you are the only person running the business? Describe a corporation's organizational structure. what are the roles of the various groups within the organizational structure?
What is business with the legal rights of a person and which may be owned by many people?
A corporation is a business that is owned by many people but by law acts as a single entity, separate from its members.
What classifies a used car?
The moment someone (private person, corporation, gov't entity or anyone) besides a dealer takes ownership of a car, it becomes used. Its a legal definition.
What are the three types of business entities and how do they differ?
The three types of business entities are a sole proprietorship, a partnership, and a corporation. A sole proprietorship is owned by one person, a partnership is owned by two or more people, and a corporation is a business entity separate from its owners.
