How did corporations acquire the status of legal persons


Problem

I. In about two paragraphs, explain the meaning of the term "externality" in relation to corporations. Be sure to use a general or specific example to illustrate your point.

II. When and how did corporations acquire the status of "legal persons"? What is the significance of this status? How does it benefit corporations? Explain in about two paragraphs.

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Other Subject: How did corporations acquire the status of legal persons
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