A corporation officially states its purpose is "to engage in any lawful activity for which corporations may be organized under the General Corporation Law of Idaho." Under corporate law,this purpose is too broad.A corporation's purpose must be more narrowly defined.

Question

A corporation officially states its purpose is "to engage in any lawful activity for which corporations may be organized under the General Corporation Law of Idaho." Under corporate law,this purpose is too broad.A corporation's purpose must be more narrowly defined.

Quizplus · Accepted Answer

Under the General Corporation Law of many states, including Idaho, a corporation is allowed to state a broad purpose for engaging in any lawful activity, which provides flexibility and does not require the corporation to limit its purpose to specific activities.

A Corporation Officially States Its Purpose Is "To Engage in Any