BLAW 301 Exam 3 Study Guide Solutions
____________ are creatures of state law - not formed at the federal level. - ANSWER-Corporations
(T/F) Corporations transcend International boundaries and are extremely old. - ANSWER-True
(T/F) Corporations will outlive you; they don't go away when you die. ...
Corporations that exist solely to own other corporations. - ANSWER✔✔-Holding Companies
Corporations are responsible for the torts or wrongdoings of its employees under the
__________________. - ANSWER✔✔-Doctrine of Respondeat Superior
A corporation that is incorporated in a certain state and doing business in that state. - ANSWER✔✔-
domestic corporation
A corporation that is incorporated in State 'A' and doing business in State 'B', 'C', 'D' , etc. - ANSWER✔✔-
Foreign corporation
A corporation that is incorporated somewhere outside the US, but doing business in the states. -
ANSWER✔✔-Alien Corporation
A corporation that is a for profit business that isn't traded on the stock exchange. - ANSWER✔✔-Private
corporation
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