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View Diary: Should we amend the US Constitution? Justice Stevens thinks so, incl. 2nd Amendment (new book) (321 comments)

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  •  They're not "associations of persons." (5+ / 0-)

    At least not in the sense we think of people, i.e. natural persons.

    As you should know, a corporation is an entirely fictitious juridical entity.  It is not an "association of persons" at all.  There's no requirement that a corporation have more than one owner.  Indeed, there's no requirement that a corporation have an actual human being as its owner.  Many corporations are owned by other corporations, and many corporations have no employees.  They "exist" only on paper.

    What a corporation is, is a liability-limiting device.  It permits people to protect themselves from legal liabilities the fictitious entity may incur.  A shareholder has no liability for the corporation's acts beyond his investment.  He has no relationship to other shareholders save as a co-owner in a legal entity. Far from "associating" through a corporation, shareholders (the corporation's owners) disassociate from each other.  

    There are true associations of persons, like unions, fraternal organizations, and clubs.  But a corporation isn't one of them.

    "Ça c'est une chanson que j'aurais vraiment aimé ne pas avoir écrite." -- Barbara

    by FogCityJohn on Sun Feb 23, 2014 at 06:28:29 PM PST

    [ Parent ]

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