A(n) __________ has a legal life of its own.

Name: A(n) __________ has a legal life of its own.
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Question

Quizplus · Accepted Answer

Unlike partnerships and sole proprietorships, which are not separate legal entities, a corporation is a distinct entity in the eyes of the law. This means that it can own assets, enter into contracts, and be held liable for its own actions in the same way that an individual can, and it can continue to exist even if its owners or shareholders change or pass away.

A(n) __________ Has a Legal Life of Its Own