A "legal entity" which can sue and be sued, make and be party to contracts, and acquire property in its own name is
A) a professional partnership.
B) a corporation.
C) a partnership.
D) a sole proprietorship.

Question

Quizplus · Accepted Answer

A corporation is a legal entity that has the ability to conduct business, open bank accounts, own property, sue and be sued, and make contracts. As a separate legal entity from its owners, a corporation can limit the liability of its shareholders and protect their personal assets. Neither a professional partnership, a partnership, nor a sole proprietorship enjoys these benefits.

A "Legal Entity" Which Can Sue and Be Sued, Make