Kind of. I would call it a company not a corporation though.
The Corporation
Yes. A corporation is an artificial person but is a person according to the law and thus can be a partner in a partnership.
One person cannot be their own corporation. This is because there are too many jobs to be done by one person efficiently.
It basically means that for certain legal purposes, a corporation is similar to a person. For example, a corporation can own property, and have certain responsibilities.
It basically means that for certain legal purposes, a corporation is similar to a person. For example, a corporation can own property, and have certain responsibilities.
A solo professional corporation is a corporation operated with one person as the board of directors. This corporation is usually for an individual who wants to run a business solely.
YES what kind of organization?
Yes.
A corporation is a group of people or corporation that has the permission to act as a single entity. Corporations have most of the rights and responsibilities that a person would have.
Of course. That's why a person becomes a guarantor -- to satisfy the corporation's debts if the corporation is unable to do so.
That would be a direct contradiction to what a corporation is. Not true!!1) Seehttp://www.business-opportunities.biz/2007/11/12/setting-up-a-one-person-corporation/2) Lord Chancellor Haldane: "...a corporation is an abstraction. It has no mind of its own any more than it has a body of its own; its active and directing will must consequently be sought in the person of somebody who is really the directing mind and will of the corporation, the very ego and centre of the personality of the corporation."See http://en.wikipedia.org/wiki/Corporation