Chapter 22
In U.S. law, ______ are legal entities.
corporations
state incorporation statutes
establish the requirements for corporate formation.
dividend
is a distribution of corporate profits or income to the shareholders.
A shareholder's liability for corporate actions is
limited to his or her corporate investment
The board of directors of a corporation selects ______ to manage the day-to-day business of the corporation.
officers
Because corporations are legal entities distinct from their ______, corporations are ______ for corporate actions.
shareholders; liable
The Fourth Amendment
to the U.S. Constitution protects corporations from unreasonable searches and seizures.
Each individual corporation's charter creates a contract between that corporation and the
state
Which of the following is an accurate statement about corporations and due process rights?
Corporations have due process rights under both the Fifth and the Fourteenth Amendments to the U.S. Constitution.
Which of the following is an accurate statement about corporate criminal liability?
Today, criminal prosecutions of corporations are much more common than they were in the past.
Which of the following is a true statement about whether corporations can sue and/or be sued by others?
Corporations can sue or be sued by others.