Eager Beaver Corporation fails to hold a meeting to adopt bylaws.Under this circumstance,Eager Beaver will still be treated as a legal corporation in those states that recognize the common law doctrine of

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The concept of a de facto corporation arises when a corporation has failed to comply with all the formal requirements of incorporation but it acts as though it is a legal corporation. In such cases, the corporation is treated as a legal entity, with the same rights and liabilities as a de jure corporation. Therefore, in the given scenario, Eager Beaver Corporation will be treated as a legal corporation under the concept of de facto corporation if the state recognizes this doctrine.

Eager Beaver Corporation Fails to Hold a Meeting to Adopt