Happta Is a Corporation with Tax-Exempt Status

question 140

Multiple Choice

Happta is a corporation with tax-exempt status. It has members but cannot have stockholders. Given this information, Happta is most likely a(n) :

• A) S corporation.
• B) C corporation.
• C) not-for-profit corporation.
• D) statutory close corporation.

Comprehend the concept of accession and how it affects ownership rights.

Understand the legal distinctions between lost, mislaid, and abandoned property.

Recognize the role and characteristics of documents of title, such as warehouse receipts and bills of lading.

Identify the legal effects of confusion and commingling on property ownership.