Corporate Law

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general business corporation - a separately incorporated legal entity created by state statute organized for the purpose of engaging in business for profit. They are legal entities separate from their shareholders. They may act in accordance with the purposed for which they are formed, hold property, open bank accounts, sue and be sued, etc., in their own name. basic attributes of a general business corporation - 1. limited liability 2. perpetual existence 3. transferability of ownership ...

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corporate law • corporate law