Which of the following is true of corporations and companies being treated as separate legal entities?
A. The owners are obligated to make all decisions on behalf of the company.
B. The rights and benefits accruing to the company belong to its owners.
C. The liability of the owners becomes limited to their investment in their company.
D. The owners are obligated to pay the company's debts from their personal estates if necessary.
C
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The state of Idaho has a two-year statute of limitations for personal injury actions. Graham was injured by Alice in a car accident on January 1, 2011
If Graham wants to bring a lawsuit against Alice on January 15, 2013, which of the following is most likely to be the outcome? A) Graham is allowed to sue Alice after appealing for an extension of the statute of limitations. B) Graham is not allowed to sue Alice, having lost his right to sue her. C) Graham can sue Alice but will not receive damages. D) Graham can sue Alice but is not entitled to a jury trial.
Suretyship refers to a creditor using collateral when extending credit
Indicate whether the statement is true or false