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Source False Imprisonment Complete Torts List Showing the closest available flashcard practice.

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0 tracked cards Business Associations

A newly incorporated business has shareholders, a board of directors, officers, employees, creditors, and customers. A student asks who generally has legal authority to manage or direct the corporation's business and affairs.
Which statement is most accurate?

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Customers manage the corporation by choosing whether to buy products. The board generally manages or directs the corporation's business and affairs. Creditors generally manage the corporation once the corporation borrows money. Shareholders generally manage every ordinary contract without board involvement.

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