Because corporations are chartered either with perpetual life or with provision for renewal if the charter specifies a limit, irrespective of the deaths of any stockholders or disposal of their stock, corporations are said to have the characteristic of

Question

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The statement describes that corporations have perpetual life or provision for renewal, irrespective of the deaths of any stockholders or disposal of their stock. This characteristic is present only in corporations and is called unlimited life.

Because Corporations Are Chartered Either with Perpetual Life or with Provision