A Close Corporation Is One Whose Shares Are Held by a Single

question 12

True/False

A close corporation is one whose shares are held by a single person, members of a family, or relatively few unrelated persons.

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Definitions:

Political Expression

The act of conveying one's political beliefs, opinions, or support for specific causes or candidates, often protected under freedom of speech.

First Amendment

An amendment to the United States Constitution guaranteeing freedoms concerning religion, expression, assembly, and the right to petition.

Corporations

Legal entities created under state law that have a separate legal personality, can own property, enter into contracts, and be sued or sue.

Judicial Review

The courts’ power to declare the actions of the other branches of government unconstitutional.