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Classification of powers

1. Express powers:
a. Power to sue and be sued
b. Power to sell, lease, dispose or encumber assets
c. Power to borrow
2. Incidental powers:
a. Incident to its existence
b. Those that attach to a corporation at the moment of its creation without regards to its
express powers
3. Implied or necessary powers:
Ex. Issuing of checks to finance the activity of the corporation

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