Describe what it means for a corporation to have legal status as an entity.

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asked Jul 7, 2021 113k views

2 Answers

Vlad Pavlovski · Answer 1 · 2021-07-08T02:49:25+0000

Answer:

A corporation is a legal entity created through the laws of its state of incorporation. The law treats a corporation as a legal "person" that has standing to sue and be sued, distinct from its stockholders. The legal independence of a corporation prevents shareholders from being personally liable for corporate debts.

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Walter Underwood · Answer 2 · 2021-07-12T02:03:01+0000

A corporation is a legal entity created through the laws of its state of incorporation. The law treats a corporation as a legal "person" that has standing to sue and be sued, distinct from its stockholders. The legal independence of a corporation prevents shareholders from being personally liable for corporate debts.

Describe what it means for a corporation to have legal status as an entity.

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