Final answer:
The nominal value per share of capital stock specified by the corporate charter is called par value and it serves as the basis for legal capital.
Step-by-step explanation:
The nominal value per share of capital stock specified by the corporate charter is called par value. Par value serves as the basis for legal capital, which is the amount of capital that a company is required to have to protect creditors and shareholders. This value is typically stated on the stock certificate and can be any amount agreed upon by the company.