Equipment rentals corporation (erc) agrees to lease two backhoes to dig & fill construction, inc. before any inter-est in the backhoes can pass from erc to dig & fill, they must be?

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18-08-2022
Business

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Equipment rentals corporation (erc) agrees to lease two backhoes to dig & fill construction, inc. before any inter-est in the backhoes can pass from erc to dig & fill, they must be?

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Tutorconsortium325 Tutorconsortium325 · Answer 1 · 2022-08-25T04:31:06+02:00

Equipment rentals corporation (ERC) agrees to lease two backhoes to dig & fill construction, inc. before any interest in the backhoes can pass from erc to dig & fill, they must be in existence and identified as the goods in the contract.

What is a corporation?

A corporation is an organization—typically a collection of individuals or a business—that has been granted by the state the right to function as a single unit and is recognized as such in law for certain purposes.
Early corporations were created with a charter.
The majority of governments currently permit the registration of new corporations.

What makes a corporation significant?

Liability concerns are among the most significant justifications for the creation of corporations.
Limited liability is offered to stockholders by corporations.
This means that the stockholder would not be held personally accountable for any damages in the event that the corporation were to be sued.

Learn more about corporation here:

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