A Corporation May Properly Exist Without a Name

question 7

True/False

A corporation may properly exist without a name.

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Definitions:

Business Judgment Rule

A legal principle that protects the decisions of corporate officers and directors when they act in good faith and with a reasonable basis in belief of acting in the best interest of the corporation.

Liability

A legal responsibility or obligation, typically involving financial compensation for loss or damage caused to another party.

Corporate Officer

An individual holding an executive position within a corporation, often vested with specific powers and responsibilities by the bylaws or board of directors.

Day-To-Day Operations

The routine activities necessary for a business or organization to function efficiently, encompassing everything from customer service to managing finances.