Asked by Silupe Lanier on Jun 13, 2024
Verified
When general incorporation statutes first emerged in the United States,they permitted incorporation only for limited purposes that:
A) benefited the public.
B) protected the public.
C) created revenue.
D) generated more taxes.
General Incorporation Statutes
Laws that provide the procedures and regulations for forming a corporation.
Benefited The Public
Actions or policies that have a positive impact on society or the community at large.
Limited Purposes
Activities or objectives that are restricted in scope or extent, often specified in legal documents or contracts.
- Identify the statutory prerequisites for company formation and the organizational framework of corporations.
Verified Answer
DS
Darlene SpainJun 19, 2024
Final Answer :
A
Explanation :
In the late 18th century,general incorporation statutes emerged in the United States.Initially,these statutes permitted incorporation only for limited purposes beneficial to the public,such as operating toll bridges and water systems.
Learning Objectives
- Identify the statutory prerequisites for company formation and the organizational framework of corporations.
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