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14 September, 18:30

Which of the following is not a legal characteristic of a corporation? A. Transerferable Shares. B. Perpetual life. C. Legal protection from lawsuits. D. Limited liability

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  1. 14 September, 18:48
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    A corporation is a separate entity where the owners are called stockholders. Its legal characteristics are as follows. First, perpetual life where it can continue to function even if one stockholder dies. Second, the stockholder can transfer his shares to another person. Third, the corporation can only offer its corporate assets to creditors and personal assets of the stockholder is not part of the corporation. Therefore, the answer is C, which states that corporation has a legal protection from lawsuits where in fact, a corporation can sue and be sued.
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