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.
