A Corporation Is Responsible for Its Own Acts and Debts

question 154

Short Answer

A corporation is responsible for its own acts and debts as the corporation is considered a ____________________________________.

---

Definitions:

Harm

Refers to damage or injury that affects someone or something's well-being or functionality.

Abnormally Dangerous Activity

An abnormally dangerous activity is any activity that inherently involves a high risk of harm or injury to people or property, even when all possible safety measures are taken.

Strict Liability

A legal doctrine holding an individual or entity responsible for damages or injuries caused by their actions or products, regardless of fault or intention.

Significant Risk

Refers to a risk level that is substantial enough to warrant attention or action, often used in legal, financial, and health contexts to denote risks that are not negligible or minor.