Examlex
Which of the following is incorrect?
Transferable
The characteristic of an asset or a legal right that allows it to be legally transferred or assigned from one party to another.
Warrants
Legal documents issued by a court or government authority that give law enforcement the power to perform certain actions, such as arrests or searches; also refers to financial instruments granting the right to purchase stock at a specified price.
De Facto Corporation
A business entity that operates like a corporation without formal incorporation status, but is treated as a corporation by law under certain conditions.
Incorporation Statute
Laws and regulations governing the process of establishing a corporation and outlining its legal status and structure.
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