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DEFINITION OF A CORPORATION-EFFECT OF CONSTITUTIONAL DEFINITION

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Abstract

The terms "corporation," "limited partnership," "joint stock association," and "Massachusetts Trust" have had fairly well established and distinct common law meanings. In recent years however, the problem of distinguishing these several types of organization has become quite involved. This is due to the fact that statutes have vested in the association, trusts, and partnerships many of the ordinary attributes of corporations, to the further fact that some statutes have apparently used the word "corporation" in a very broad sense, and to the effect given to constitutional definitions of corporations in some states. As a result much litigation has arisen under statutes conferring some privilege on corporations, or imposing some duty upon them, as to just what is a corporation.

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