Which of the following is not an express power of corporations?

a. The power to make charitable donations.

b. The power to sue and be sued under the corporation name.

c. Perpetual existence.

d. The power to lend money.

e. The power given in the statement of corporate purpose in the articles of incorporation.

Question

Delaney Schmidt

Social Studies

29 July, 13:13

Which of the following is not an express power of corporations?

a. The power to make charitable donations.

b. The power to sue and be sued under the corporation name.

c. Perpetual existence.

d. The power to lend money.

e. The power given in the statement of corporate purpose in the articles of incorporation.

+1

Answers (1)

Know the Answer?

Darryl Erickson · Answer 1

Option E, The power given in the statement of corporate purpose in the articles of incorporation, is the right answer.

Explanation:

An authorized entity which is separated and distinguished from its proprietors is known as a corporation. The right and responsibilities that an individual enjoys are also exercised by the corporations, in this we can include the signing of contracts, sue and be sued, hiring employees, paying taxes, taking loans or borrowing money, own assets etc. Such powers including some others (lend money, make charitable donations etc.) come under the category of an express power of corporations.

Therefore, in the given question all the options are correct except option E.