{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

CH07 - Chapter Seven Introduction to Corporations...

Info icon This preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter Seven Introduction to Corporations
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Corporation Corporation Corporation : : A legal entity created by a state to carry out business (if a for- profit entity).
Image of page 2
Model Business Corporation Act MBCA: act on which individual state statutes governing corporations are based
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Corporate Powers List of activities enumerated by a state in which a corporation can engage
Image of page 4
Powers Typically Granted to a Corporation By State Law Slide 1 of 3 To sue and be sued and to defend in the corporation’s own name To make and amend bylaws for regulating the business of the corporation To purchase, acquire, own, hold, improve, sell, lease, or mortgage real or personal property To enter into contracts, incur liabilities, borrow money, issue bonds, and lend money To elect directors and appoint officers
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Powers Typically Granted to a Corporation By State Law Slide 2 of 3 To establish pension and other benefit plans for its directors, officers, agents, and employees
Image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern