Examlex
Which of the following statements a) , b) or c) is false?
Perpetual Existence
A legal concept indicating that a corporation can continue indefinitely, regardless of changes in ownership or management.
Charitable Donations
Financial or material contributions given to nonprofit organizations or causes for philanthropic purposes.
Implied Powers
Powers not explicitly stated in a constitution or legal document but deemed necessary to execute the powers that are expressly stated.
De Facto Corporation
Latin for “corporation in fact” a corporation that has not substantially met the requirements of the state incorporation statutes.
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