Asked by Sophony Henri on May 18, 2024
Verified
A corporation is intangible and invisible, and exists only in the contemplation of the law.
Intangible
Non-physical assets that have value, such as intellectual property, goodwill, and patents.
Invisible
Refers to something not visible to the naked eye or not immediately noticeable.
Contemplation
The act of considering or thinking about something with the possibility of taking action.
- Understand the legal recognition of corporations and their distinguishing features.
Verified Answer
RP
Rahul PatelMay 19, 2024
Final Answer :
True
Explanation :
A corporation is a legal entity, distinct from its members, created under the law. It does not have a physical form and exists only as a concept recognized by legal statutes, making it intangible and invisible in the physical sense.
Learning Objectives
- Understand the legal recognition of corporations and their distinguishing features.
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