Identify the Major Aspects in Which Corporations Differ from Partnerships

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The Answer is The major aspects as text sections are: Control, Limited Liability, Transfer, Term of Operation of the Business, Operation of Business Entity, and Separate Existence of the Corporation. The distinctions under these headings between corporations and partnerships, in short, are: control in hands of majority of directors, rather than by any partner; personal liability is limited as opposed to unlimited for general partners; transfer of interest is easier in corporations; corporations are not limited in term as partnerships are by the lives of the partners; more aspects of corporate governance are set out by statute; and, corporations are more readily identifiable as separate from their owners than are partnerships.

Identify the Major Aspects in Which Corporations Differ from Partnerships

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