Business Law

(Your Name (Your University2007Define a confederation ? What ar the major attributes of a companionship What is the liability exposure of sh atomic number 18 holders for the debts and obligations of the bay window ? How does an S corporation differ from a C corporationA corporation is a legal structure authorized by state watch over that allows a transmission line to organize as a collapse legal entity from its throwers (Nolo tissue situation , n .d . It is considered an conventionalised entity or somebody similar to a natural person , it rump enter into contracts , conduct rail line 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 corporatio nThe corporation has the authority to 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 bet considerationent 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 increment their profits and make a return for their shareholders (Nolo tissue settle , n .d . On the other hand , non profits are organized for charitable purposes and are existing based on donations from people for the betterment of the society .

The profit-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 rectitude (Nolo web site , n .d . C corporations are assessed revenue 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 lodge 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 sine qua non to get a full essay, beau monde it on our website: OrderCustomPaper.com

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