Asked by Rebika Basnet on Jun 04, 2024
Verified
Corporations are considered to be legal persons.
Legal Persons
Entities, such as corporations or governmental bodies, that are recognized by law as having rights and responsibilities similar to natural persons.
- Explain the legal concept of a corporation as a separate legal entity and its implications.
Verified Answer
BM
Benedek MolnárJun 05, 2024
Final Answer :
True
Explanation :
Corporations are considered legal persons because they can enter into contracts, sue and be sued, own assets, and are responsible for their own debts and obligations, separate from those of their shareholders.
Learning Objectives
- Explain the legal concept of a corporation as a separate legal entity and its implications.
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