Business Law

(Your Name (Your University2007Define a confederation ? What ar the major attributes of a peck What is the liability exposure of shargon holders for the debts and obligations of the tummy ? How does an S corporation differ from a C corporationA corporation is a legal structure authorized by state prize that allows a transmission line to organize as a collapse legal entity from its geters (Nolo tissue situation , n .d . It is considered an faux entity or soul similar to a natural person , it rump enter into contracts , conduct short letter 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 to engage i n 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 advance 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 append their profits and make a return for their shareholders (Nolo meshing put , n .d . On the other hand , non profits are organized for charitable purposes and are existing based on donations from people for the bet preconditionent of the society .

The profit-making corporat! ions 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 justness (Nolo web site , n .d . C corporations are assessed tax income 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 moderate 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 requirement to get a full essay, beau monde it on our website: OrderCustomPaper.com

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