/kɔːpəˈreɪʃən baɪ ˈdʒɛnərəl ækt əv ˈpɑːrləmənt/ – Phrase
Definition: pháp nhân theo đạo luật tổng hợp của quốc hội, pháp nhân theo pháp luật.
A more thorough explanation: A corporation, as defined by a general act of Parliament, is a legal entity that is separate and distinct from its owners, with the ability to own property, enter into contracts, sue and be sued, and engage in business activities. It is typically created by filing articles of incorporation with the appropriate government authority and is governed by a board of directors who are responsible for making major decisions on behalf of the corporation.
Example: The corporation was established by a general act of Parliament, granting it the authority to conduct business operations within the specified jurisdiction.
