classifications and kinds of corporations
city or hospital
what is a public corporation
What is an ultra vires contract?
Contract exceeding corporation's powers
Can a corporation be formed in any state?
yes, a corporation can be formed in any state the premorer chooses
formed to perform a nongovernmental function
what is a private corporation
What are the powers of a Corporation?
A corporation has three types of powers: Express, incidental, and implied
a person who takes the inition step to create an organized cooperation?
What is a promoter?
One chartered in the state
what is domestic corporation
Are Shareholder and Stockholders the same?
Yes
a written agreement to buy stock in a company prior to the advancement of the actual incorperation
What is a subscription agreement?
one chartered in another state
what is a foreign corporation
Power to act reasonably out of necessity to carry out corporate purposes
What is an implied power?
Document that ensures a corporation has complied with legal requirements
What is articles of incorporation?
one chartered in another country
what is alien corporation
Powers given by the corporations statute and articles of incoporation
what is an express power?
Writing put into company contract making the promoter not liable
What is previsions?