North Carolina Corporation Law
Excerpt from North Carolina Corporation Law: Revisal of 1905, Chapter 21 as Amended by Public Laws 1907-1915 1128. Corporate powers. Every corporation shall have power - 1. To have succession, by its corporate name, for the period limited in its charter, or certificate of incorporation, and, when no period is limited, for a period of sixty years. 2. To sue and be sued in any court. 3. To make and use a common seal, and alter the same at pleasure. 4. To hold, purchase, and convey real and personal estate in or out of the State, and to mortgage the same and its franchises
the power to hold real and personal estate shall include. the power to take the same by devise or bequest. All contracts, in writing, for the purchase of personal property by corporations, providing for a lien on such property or the retention of the title thereto by the vendor as a security for the purchase price, or any part thereof, shall be sufficiently-executed if they shall be..