A corporation has an implied power to extend credit to those with whom it has a legal or contractual relationship.

Question

Quizplus · Accepted Answer

This statement is true. It is within the implied powers of a corporation to extend credit to those with whom it has a legal or contractual relationship, such as customers or suppliers. However, the extent and terms of the credit may be subject to regulation and oversight by laws and governing bodies.

A Corporation Has an Implied Power to Extend Credit to Those