Question

True or False

1) During the late 19th century, states expanded corporate powers under general incorporation laws in order to attract more businesses to their states.

2) Corporations can buy and sell property

3) The WTO is a paragon of corporate democracy.

4) John D. Rockefeller formed Standard Oil of Ohio as a business trust.

Answer 1

1. True During late 19th century state expanded corporate power under under general incorporation law to attract more businesses to their states because during late 19th century states allowed free incorporation of businesses with simple registration procedures.

2. True Corporation can sell and buy properties because corporation allow to function as legal person which includes the legal rights so own property is also includes in legal rights.

3. True because WTO is international agency which take decision on basis of member countries concensus. It can said model of democracy among international institutions.

4. True because standard oil trust is formed by John D Rockefeller in 1863 and after it becomes world's largest oil refinery company and it renamed Standard Oil Company in 1870.