Question: Patrick Sabine, a student, asks for your help in understanding the following characteristics of a corporation: (a) Limited liability of shareholders, (b) Transferable ownership rights

Patrick Sabine, a student, asks for your help in understanding the following characteristics of a corporation: 

(a) Limited liability of shareholders, 

(b) Transferable ownership rights

(c) Ability to acquire capital. Explain these characteristics to Patrick.

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