Final answer:
Owners of a corporation have limited liability, meaning they are liable only up to the amount they invested, but stockholders do have the power to bind the corporation to contracts through the board of directors they elect.
Step-by-step explanation:
The student asked which statements are true for the corporate form of organization. It is indeed true that owners have limited liability for corporate debts in a corporation. This means that the shareholders are only financially liable up to the amount they have invested in the company. If the corporation faces financial loss or bankruptcy, the personal assets of the shareholders are protected. However, it is not accurate to say that stockholders do not have the power to bind the corporation to contracts. While it's true that stockholders individually typically do not engage in the day-to-day operations, the elected board of directors, who are chosen by the shareholders, have the authority to enter into binding contracts on behalf of the corporation.