Chapter 25 - Kerry Bordelon Chapter 25 Summary Chapter 25...

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Kerry Bordelon Chapter 25 Summary Chapter 25 deals with corporations and the details about them. What will be discussed are how corporations are classified, their powers, and how to form them. Corporate status will also be discussed including corporate activities and incorporation procedures. Corporations are classified into different categories based on where they are located and where they do business. A corporation is referred to as a domestic corporation in its own state. When a corporation is formed in one state but does business in another, it is referred to as a foreign corporation. A corporation formed in another country that is doing business in the U.S. is referred to as an alien corporation. There are also public and private corporations. A public corporation is one that is formed by the government in order to perform specific political or governmental purpose. An example would be a city or town that incorporates. A private corporation is one that is created solely for private benefit. Most corporations are private. Nonprofit corporations are formed for the purposes other than making a profit. Examples of these would be private hospitals, schools, charities and religious
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Chapter 25 - Kerry Bordelon Chapter 25 Summary Chapter 25...

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