Which of the Following is True About Corporations?
Options:
A) A stockholder is personally liable for the debts of the corporation.
B) The corporation’s life is stipulated in its charter.
C) Stockholders’ acts can bind the corporation even though the stockholders have not been appointed as agents of the corporation.
D) Stockholders wishing to sell their corporation shares must get the approval of other stockholders.
The Correct Answer Is:
B) The corporation’s life is stipulated in its charter.