Examlex
If a savings and loan "pools risk," which of the following must it do?
Shareholder
An individual or entity that owns shares in a corporation and has potential financial gains or losses based on the company's performance.
Corporation
A legal entity that is separate and distinct from its owners, possessing rights and responsibilities, capable of conducting business, entering into agreements, and owning property.
Novation
The act of replacing an obligation to perform with a new obligation, or replacing a party to an agreement with a new party.
Valid Obligation
A legal term denoting a binding duty or commitment that has been established through proper legal or contractual procedures, enforceable by law.
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