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Vernon, Carey, and Perry were partners in Capstone Clothiers, a retail clothing store. They decided to change the organization of the business to a corporation.

Vernon, Carey, and Perry were partners in Capstone Clothiers, a retail clothing store. They decided to change the organization of the business to a corporation. They changed the business name to Capstone Clothing, Inc. and notified creditors of the change. Have they formed a valid corporation? Why or why not?

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