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American Dictionary of the English Language

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Corporation


CORPORATION, noun A body politic or corporate, formed and authorized by law to act as a single person; a society having the capacity of transacting business as an individual. Corporations are aggregate or sole. Corporations aggregate consist of two or more persons united in a society, which is preserved by a succession of members, either forever, or till the corporation is dissolved by the power that formed it, by the death of all its members, by surrender of its charter or franchises, or by forfeiture. Such corporations are the mayor and aldermen of cities, the head and fellows of a college, the dean and chapter of a cathedral church, the stockholders of a bank or insurance company, etc. A corporation sole consists of one person only and his successors, as a king or a bishop.