Business Law

(Your Name (Your University2007Define a confederation ? What ar the major attributes of a companionship What is the liability exposure of sh ar holders for the debts and obligations of the skunk ? How does an S corporation differ from a C corporationA corporation is a legal structure authorized by state celebrate that allows a transmission line to organize as a collapse legal entity from its averers (Nolo tissue situation , n .d . It is considered an dummy entity or person similar to a natural person , it rump enter into contracts , conduct caper operations , own properties , fulfill and be sued . After incorporation , the corporation takes on its liabilities and obligations and thus excludes its stockholders from personal liability for the obligations contracted by the corporationThe corporation has the authority t o engage in the area of business as contract in its Articles of Incorporation and shall have such powers as provided and disposed(p) to it by equity . Corporations may be organized for procession and others for non-profit . The corporation can own properties engage in business , enter into contracts and be held liable or hold anyone it transacts with as liable . The goal of a profit corporation is to growing their profits and make a return for their shareholders (Nolo sack order , n .d . On the other hand , non profits are organized for charitable purposes and are existing based on donations from people for the bet full terment of the society .

The pr! ofit-making corporations are also called C corporations while those organized for non profit purposes are considered S corporation pursuant to sub chapter S of the Internal Revenue fair play (Nolo web site , n .d . C corporations are assessed assess income liabilities separate from those of the stockholders . Thus , these stockholders are not individually and in person liable for the obligations of the corporation . On the other hand , S corporations taxes as assessed by the federal government are take hold against the personal income tax returns of their owners (Nolo web site , n .dReferencesNolo web site , Corporations Retrieved on October 10 , 2007 , fromHYPERLINK http /www .nolo .com / translation .cfm /term /288F640F-F004-41BD-9DA1C46501BF E4D3 http /www .nolo .com /definition .cfm /term /288F640F-F004-41BD-9DA1C46501BFE 4D3PAGEPAGE 3 BUSINESS LAW...If you involve to get a full essay, beau monde it on our website: OrderCustomPap er.com

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