Asked by Galina Kvitko on May 06, 2024
Verified
Sweetwater Corporation is incorporated in Texas. Outside that state, within the United States, the firm is
A) a domestic corporation.
B) a foreign corporation.
C) an alien corporation.
D) a corporation by estoppel.
Alien Corporation
A corporation formed in another country but doing business in the United States.
Domestic Corporation
In a given state, a corporation that is organized under the law of that state.
- Differentiate between types of corporations based on incorporation jurisdiction and purpose.
Verified Answer
MV
Marelle ValenciaMay 12, 2024
Final Answer :
B
Explanation :
Sweetwater Corporation, incorporated in Texas, is considered a foreign corporation in any other state within the United States outside of Texas. This is because the term "foreign corporation" refers to a corporation operating in a state or jurisdiction other than the one where it was incorporated.
Learning Objectives
- Differentiate between types of corporations based on incorporation jurisdiction and purpose.