Illustrate the statutory corporations

Question

Illustrate the statutory corporations?

Answer 1

The term statutory corporation is just like public school boards which provide power to agreement only as particular in the statutes creating them. Several contract not prepared in accordance with this constitutional ability may be unenforceable.

Associations are unincorporated business organizations for example private clubs, charities and churches that do not have the legal capacity to agreement. Various provinces that have enacted statutes to grant authority to contract but the authority is imperfect in the similar way as a statutory corporation’s establishment limits its authority. Trade unions may also be given capacity to contract.