A Corporation Cannot Enter into or Enforce Contracts

question 120

True/False

A corporation cannot enter into or enforce contracts.

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Definitions:

Limited Partner

An investor in a partnership whose liability is limited to the amount of their investment, with no direct involvement in the management of the business.

General Partners

A reworded definition: Members of a partnership who share unlimited liability for the debts and obligations of the business and actively manage its affairs.

Access

The right or opportunity to use, approach, or enter a place or service, or the act of gaining this right.

Books and Records

Official documentation of a business's financial transactions, activities, and obligations, maintained for legal and operational purposes.