Question

Distinguish between corporate sole and corporation aggregate

Answer 1

A corporation sole is an individual person who represents an official position which has a single separate legal entity. ... A corporation sole can only be created by statute. 75.4 Corporation aggregate. A corporation aggregate is a separate legal entity formed by several individual persons

Answer 2

The corporate sole is a single person

Corporate aggregate are a group of people who combine together to form a corporation under a specific identity. The corporate sole is a successful individual who gains certain rights due to the office or position that they hold

Explanation:

Corporate sole

• A corporation sole is a single person who are successful in their own right and they are a part  of the same office or "title"
• A corporation sole can only be made through a legal process and the rights are given to them for the job title they hold
• A corporation sole are individuals who do not require a special authority and they have the right to grant, keep or buy certain property

Corporation aggregate

• A corporation aggregate is a group of people who connect together for one specific entity which has an identity of its own
• It is a separate and independent legal body which is created  and consists of different individuals
• The corporate aggregate can only work on tasks or activities through legal deeds which have a "common seal"

To know more about corporate aggregate

What is corporate borrowers having aggregate fund-based and non-fund based

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