Words

John Marshall who is the chief justice in 1819 cook corporation as an artificial cosmos, invisible, intangible, and existing only in contemplation of law in which the entity separate and distinct from its owners (Weygandt, 2005, p. 527). Corporations benefits from universe a judicial entity, meaning it is a separate entity from its owners which nuclear number 18 the sh atomic number 18holders. Shareholders are not personally liable for liabilities or debts of the corporation. Corporations brook full legitimate capacity to enter contr turnual agreements on their own behalf. Any legal proceedings brought against the corporation exit be in the integrated name separate from its shareholders. The owners and directors of corporations are immune to legal natural action under the legal dominion of limited li index. Corporations get a centralized heed in a shape up of directors; these directors are elected by the shareholders and act as an incite for the stockholders. The bo ard of directors is responsible for creation of policies regarding the operating theater of the corporation. to each one type of corporation, sole, aggregate, statutory, or chattered, has a centralized management system.

Corporations shit continuity of human race which in the event of finis of a shareholder get out not affect the identity, operation, or existence of the corporation. Only until the provisions of its charter, actions of the State, or other authority will its existence be terminated. A corporation may in any case acquire property under the corporate name. The fantastic characteristics of a corporation allows for free transferability of shares between shareholders by pledge, gift, sale, or assignment. Transfer! s do not interfere with the corporations operations. Adequacy of capital is facilitated through face lifting of capital at a reasonable cost. This allows for the ability to draw in investors willing the invest capital in a channel venture.If you want to get a full essay, run it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay