Asked by
Autumn Schultz
on Oct 15, 2024
Verified
Shareholders in a corporation have the power to bind the corporation to contracts.
Shareholders
Individuals or entities that own one or more shares of stock in a public or private corporation, giving them partial ownership of the company.
Corporation
A legal entity formed under state or federal statutes that is distinct from its owners (shareholders), providing limited liability protection, ease of transferability of shares, and potential tax benefits.
- Determine the legal and monetary structure of corporations, accounting for the rights and responsibilities of shareholders.
Verified Answer
JW
Learning Objectives
- Determine the legal and monetary structure of corporations, accounting for the rights and responsibilities of shareholders.
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