Commercial Law, 2012 Bar — Question 48

MULTIPLE CHOICE

The Articles of Incorporation of AAA Corporation was approved by the Securities and Exchange Commission (SEC). After the receipt of the Certificate of Approval from the SEC, AAA Corporation decided to immediately start the operation of its business despite the fact that it has no approved By-Laws. What is the legal status of the AAA Corporation? A) A de jure corporation; B) A de facto corporation; C) A corporation by estoppel; D) An unregistered corporation.

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