Q Question 1 2 / 2 pts A corporation that is technically defective but that is formed in good faith and exercises corporate power is known as a de jure corporation. Question 2 2 / 2 pts A creditor of a sole proprietorship may seek recovery only from business assets of the sole proprietorship, not from personal assets of the sole proprietor. Question 3 2 / 2 pts A partnership may acquire property in the individual partners' names. Question 4 2 / 2 pts The main function of an LLP is to insulate its partners from vicarious liability for certain partnership obligations. Question 5 2 / 2 pts Corporations must incorporate in the state where their headquarters are located.

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