Function of corporate law

  • Corporate law areas

    A company has many of the same legal rights and responsibilities as a person does, like the ability to enter into contracts, the right to sue (or be sued), borrow money, pay taxes, own assets, and hire employees..

  • Corporate law areas

    A corporation is a legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit.
    Corporations are allowed to enter into contracts, sue and be sued, own assets, remit federal and state taxes, and borrow money from financial institutions..

  • What is the main function of a corporation?

    A corporation is a legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit.
    Corporations are allowed to enter into contracts, sue and be sued, own assets, remit federal and state taxes, and borrow money from financial institutions..

Corporate law regulates the rights and obligations involved with the business activities of a corporation, including formation, ownership, operation, and management. Corporate law handles big picture concerns, such as buying decisions, mergers and acquisitions, and shareholders' rights.
It aims to provide a legal framework for forming and operating corporations. They regulate rights, relations, and the conduct of business. Therefore, the framed laws cover a corporation's life cycle and examine company formation, funding, ownership, shareholding, and closure.

Corporation or entity created by statute law

A creature of statute is a legal entity, such as a corporation, created by statute.
Creatures of statute may include municipalities and other artificial legal entities or relationships.
Thus, when a statute in some fashion requires the formation of a corporate body—often for governmental purposes—such bodies when formed are known as creatures of statute. The same concept is also expressed with the phrase creature of the state.

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