Question

Marguerite starts a corporation. Her articles of incorporation specifically state that the corporation will work in the beauty products industry. Marguerite would like to take out a loan on the company's behalf. She:___________. a. cannot, because borrowing is not an express power in the articles. b. can, because it is illegal to forbid the borrowing of money. c. can because of the implied powers of the corporation. d. cannot, because corporations cannot borrow money.

Answer 1

Answer:

C

Explanation:

Marguerite starts a corporation. Her articles of incorporation specifically state that the corporation will work in the beauty products industry. Marguerite would like to take out a loan on the company's behalf. She can because of the implied powers of the corporation.