California Business and Professions Code 653 – The word “person” as used in this article includes an individual, …
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The word “person” as used in this article includes an individual, firm, partnership, association, corporation, limited liability company, or cooperative association.
(Amended by Stats. 1994, Ch. 1010, Sec. 3. Effective January 1, 1995.)
Terms Used In California Business and Professions Code 653
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.