Which of the Following Distinguishes a Chartered Corporation from a Statutory

question 36

Multiple Choice

Which of the following distinguishes a chartered corporation from a statutory corporation?

• A)Chartered corporations have a limited contractual capacity, but statutory corporations do not.
• B)Statutory corporations are treated the same as individuals of a majority age, but chartered corporations are not.
• C)Statutory corporations cannot be said to act ultra vires, but chartered corporations can.
• D)Statutory corporations are indistinguishable from chartered corporations in terms of contractual capacity.
• E)Chartered corporations generally have full capacity and consequently are not subject to the ultra vires rule, but statutory corporations have limited capacity and consequently are subject to the ultra vires rule.

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Definitions:

Free-Riding

The behavior of individuals who benefit from resources or services without contributing to their provision.

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The situation in which people demonstrate lower effort in pursuing a goal as part of a group than they do while working solo.

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Dynamometer

A device for measuring force, torque, or power. For example, in a clinical setting, it can measure the strength of different muscle groups.