Nature, Formation, and Powers
• Identify the principal attributes and classifications of corporations.
• Explain how a corporation is formed and the role, liability, and duties of promoters.
• Distinguish between the statutory and common law approaches to defective formation of a corporation.
• Explain how the doctrine of piercing the corporate veil applies to closely held corporations and parent- subsidiary corporations.
• Identify the sources of corporate powers and explain the legal consequences of a corporation’s exceeding its powers.
