Unlike a sole proprietorship or general partnership, a corporation is a separate legal entity, separate and distinct from its owners. It can be created for a limited duration, or it can have perpetual existence. Since it is a separate legal entity, a corporation has continuity regardless of its owners.
Well in most history books it would seem to agree with this. But because the north was better developed they didn't need slaves as much as the south thought they did. If they were in the Souths situation they might of been wanting slaves instead.
A common occurrence back then were African Americans being seen as slaves