A Corporation Formed in Substantial Compliance with the Incorporation Statute

question 15

Multiple Choice

A corporation formed in substantial compliance with the incorporation statute and the required organizational procedures is a:

• A) de facto corporation.
• B) de jure corporation.
• C) corporation by estoppel.
• D) private corporation.

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Definitions:

Quit Jobs

The act of voluntarily leaving one's employment, often due to personal, professional, or financial reasons.

New Ideas

Original thoughts, concepts, or innovations that have not been previously introduced or implemented.

Objective

A specific, measurable goal that is designed to achieve a certain outcome within a set timeframe.

Corridor Principle

A theory suggesting that once entrepreneurs embark on a venture, they are likely to encounter unforeseen opportunities and paths that were not visible to them before starting the venture.