1.. Give a brief response to the following question and 2. In one sentence state why that area of law is important for law students.

a. Explain the concept of "limited liability" and how it applies to a corporation.

b. Explain the concept of "double taxation" and how it applies to corporations.

c. Discuss the role of a board of directors in a corporation. How does it contribute to corporate governance?

d. What are the three main types of business organizations?

e. How does a sole proprietorship differ from a partnership in terms of ownership, liability, and taxation?