Question: Mike Horn, a student, asks your help in understanding the following characteristics of a corporation: (a) Separate legal existence, (b) Limited liability of stockholders, and

Mike Horn, a student, asks your help in understanding the following characteristics of a corporation:
(a) Separate legal existence,
(b) Limited liability of stockholders, and
(c) Transferable ownership rights. Explain these characteristics to Mike.

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a Separate legal existence A corporation is separate and distinct from its owners and it ... View full answer

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