Answer:
According to _____________, as an entity separate and distinct from its owners, the corporation acts under its own name rather than in the name of its stockholders.
C) Separate legal existence
Explanation:
This separate legal existence means that before the law, a corporation is a distinct person, just like every other person, with rights and obligations. Â It can enter into binding contracts. Â It can perform business activities within the ambits of the law. Â It has its own name and personality that is not intertwined with those of the owners or stockholders. Â It enjoys a continuous lifespan that can only be liquidated under the laws.