Wings2Go Corporation fails to hold an organizational meeting. In this circumstance, Wings2Go is most likely

Question

Wings2Go Corporation fails to hold an organizational meeting. In this circumstance, Wings2Go is most likely​

Quizplus · Accepted Answer

A de facto corporation is a corporation that has not met all legal requirements for incorporation but is recognized as a corporation due to its good faith effort to comply with the law. In this case, Wings2Go failed to hold an organizational meeting, but it still attempted to comply with the law by filing articles of incorporation and attempting to operate as a corporation. Therefore, it is most likely a de facto corporation.

Wings2Go Corporation Fails to Hold an Organizational Meeting