A) Debt agreement specifying loan terms.
B) One created under the laws of a given state.
C) One created under the laws of any other state or jurisdiction.
D) Person who takes the preliminary steps to organize a corporation.
E) Person who signs the articles of incorporation.
F) Rules governing a corporation's internal management.
G) One formed in substantial compliance with the incorporation statute and having all corporate attributes.
H) One not formed in compliance with the statute but recognized for most purposes as a corporation.
I) One whose shares are owned by a large number of people and are widely traded.
J) One created to administer a unit of local civil government.
K) Any action taken or contract made by a corporation that goes beyond its express and implied powers.
L) Source of capital creating no ownership interest and involving the corporation's promise to repay funds loaned to it.
M) A type of debt security.
N) Person who agrees to purchase stock in a corporation.
O) Condition the payment of interest to some extent on corporate earnings.
P) Bonds subject to redemption.
Q) Eligible corporation electing to be taxed as a partnership.
R) Corporate ownership interest having superior contractual rights with regard to dividends, liquidation rights, or both.
S) May be exchanged for other securities.
T) Claims against a corporation's general assets and also a lien on specific property.
U) Basic organizational document of a corporation; charter.
V) Shares reacquired by a corporation.
W) Opportunity to purchase a pro rata share of new stock offerings.
X) Source of capital creating an ownership interest in the corporation.
Y) A corporation's exercise of the right to repurchase its own shares.
Correct Answer
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Correct Answer
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A) Directors are elected by a plurality of votes.
B) Authorization to vote another's shares at a shareholder meeting.
C) Permits a domestic business corporation to become a domestic or foreign partnership, LLC, or other entity; permits a domestic of foreign partnership, LLC, or other entity to become a domestic business corporation.
D) Change of a corporation's state of incorporation.
E) Entitles each shareholder to give one candidate as many votes as the number of directors to be elected multiplied by the number of shares owned.
F) Minimum number necessary to be present at a meeting in order to transact business.
G) Brought by shareholder on behalf of the corporation to enforce a right belonging to the corporation.
H) Brought by a shareholder to enforce a claim against the corporation based upon his ownership of shares.
I) Must exercise ordinary care and prudence.
J) Fiduciary obligation of faithfulness; subordination of self-interest.
K) Must act within their respective authority.
L) The combination of assets of two or more corporations into one of the corporations.
M) The combination of two or more corporations into a new corporation.
N) Precludes imposing liability on directors and officers for honest mistakes in judgment if they act in good faith with due care.
O) A general invitation to all the shareholders of a target company to sell their shares at a specified price.
Correct Answer
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Correct Answer
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A) Conversion.
B) Domestication.
C) Cash-out combinations.
D) All of the above.
Correct Answer
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Correct Answer
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A) Debt agreement specifying loan terms.
B) One created under the laws of a given state.
C) One created under the laws of any other state or jurisdiction.
D) Person who takes the preliminary steps to organize a corporation.
E) Person who signs the articles of incorporation.
F) Rules governing a corporation's internal management.
G) One formed in substantial compliance with the incorporation statute and having all corporate attributes.
H) One not formed in compliance with the statute but recognized for most purposes as a corporation.
I) One whose shares are owned by a large number of people and are widely traded.
J) One created to administer a unit of local civil government.
K) Any action taken or contract made by a corporation that goes beyond its express and implied powers.
L) Source of capital creating no ownership interest and involving the corporation's promise to repay funds loaned to it.
M) A type of debt security.
N) Person who agrees to purchase stock in a corporation.
O) Condition the payment of interest to some extent on corporate earnings.
P) Bonds subject to redemption.
Q) Eligible corporation electing to be taxed as a partnership.
R) Corporate ownership interest having superior contractual rights with regard to dividends, liquidation rights, or both.
S) May be exchanged for other securities.
T) Claims against a corporation's general assets and also a lien on specific property.
U) Basic organizational document of a corporation; charter.
V) Shares reacquired by a corporation.
W) Opportunity to purchase a pro rata share of new stock offerings.
X) Source of capital creating an ownership interest in the corporation.
Y) A corporation's exercise of the right to repurchase its own shares.
Correct Answer
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Correct Answer
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A) belong to dissenting shareholders.
B) can be exercised by a target company any time before acquisition.
C) allow a target company to get a fair valuation of their assets before sale.
D) always give all shareholders the fair market value of their shares.
Correct Answer
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Correct Answer
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A) Directors are elected by a plurality of votes.
B) Authorization to vote another's shares at a shareholder meeting.
C) Permits a domestic business corporation to become a domestic or foreign partnership, LLC, or other entity; permits a domestic of foreign partnership, LLC, or other entity to become a domestic business corporation.
D) Change of a corporation's state of incorporation.
E) Entitles each shareholder to give one candidate as many votes as the number of directors to be elected multiplied by the number of shares owned.
F) Minimum number necessary to be present at a meeting in order to transact business.
G) Brought by shareholder on behalf of the corporation to enforce a right belonging to the corporation.
H) Brought by a shareholder to enforce a claim against the corporation based upon his ownership of shares.
I) Must exercise ordinary care and prudence.
J) Fiduciary obligation of faithfulness; subordination of self-interest.
K) Must act within their respective authority.
L) The combination of assets of two or more corporations into one of the corporations.
M) The combination of two or more corporations into a new corporation.
N) Precludes imposing liability on directors and officers for honest mistakes in judgment if they act in good faith with due care.
O) A general invitation to all the shareholders of a target company to sell their shares at a specified price.
Correct Answer
verified
Correct Answer
verified
A) Directors are elected by a plurality of votes.
B) Authorization to vote another's shares at a shareholder meeting.
C) Permits a domestic business corporation to become a domestic or foreign partnership, LLC, or other entity; permits a domestic of foreign partnership, LLC, or other entity to become a domestic business corporation.
D) Change of a corporation's state of incorporation.
E) Entitles each shareholder to give one candidate as many votes as the number of directors to be elected multiplied by the number of shares owned.
F) Minimum number necessary to be present at a meeting in order to transact business.
G) Brought by shareholder on behalf of the corporation to enforce a right belonging to the corporation.
H) Brought by a shareholder to enforce a claim against the corporation based upon his ownership of shares.
I) Must exercise ordinary care and prudence.
J) Fiduciary obligation of faithfulness; subordination of self-interest.
K) Must act within their respective authority.
L) The combination of assets of two or more corporations into one of the corporations.
M) The combination of two or more corporations into a new corporation.
N) Precludes imposing liability on directors and officers for honest mistakes in judgment if they act in good faith with due care.
O) A general invitation to all the shareholders of a target company to sell their shares at a specified price.
Correct Answer
verified
Correct Answer
verified
A) Debt agreement specifying loan terms.
B) One created under the laws of a given state.
C) One created under the laws of any other state or jurisdiction.
D) Person who takes the preliminary steps to organize a corporation.
E) Person who signs the articles of incorporation.
F) Rules governing a corporation's internal management.
G) One formed in substantial compliance with the incorporation statute and having all corporate attributes.
H) One not formed in compliance with the statute but recognized for most purposes as a corporation.
I) One whose shares are owned by a large number of people and are widely traded.
J) One created to administer a unit of local civil government.
K) Any action taken or contract made by a corporation that goes beyond its express and implied powers.
L) Source of capital creating no ownership interest and involving the corporation's promise to repay funds loaned to it.
M) A type of debt security.
N) Person who agrees to purchase stock in a corporation.
O) Condition the payment of interest to some extent on corporate earnings.
P) Bonds subject to redemption.
Q) Eligible corporation electing to be taxed as a partnership.
R) Corporate ownership interest having superior contractual rights with regard to dividends, liquidation rights, or both.
S) May be exchanged for other securities.
T) Claims against a corporation's general assets and also a lien on specific property.
U) Basic organizational document of a corporation; charter.
V) Shares reacquired by a corporation.
W) Opportunity to purchase a pro rata share of new stock offerings.
X) Source of capital creating an ownership interest in the corporation.
Y) A corporation's exercise of the right to repurchase its own shares.
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
A) Debt agreement specifying loan terms.
B) One created under the laws of a given state.
C) One created under the laws of any other state or jurisdiction.
D) Person who takes the preliminary steps to organize a corporation.
E) Person who signs the articles of incorporation.
F) Rules governing a corporation's internal management.
G) One formed in substantial compliance with the incorporation statute and having all corporate attributes.
H) One not formed in compliance with the statute but recognized for most purposes as a corporation.
I) One whose shares are owned by a large number of people and are widely traded.
J) One created to administer a unit of local civil government.
K) Any action taken or contract made by a corporation that goes beyond its express and implied powers.
L) Source of capital creating no ownership interest and involving the corporation's promise to repay funds loaned to it.
M) A type of debt security.
N) Person who agrees to purchase stock in a corporation.
O) Condition the payment of interest to some extent on corporate earnings.
P) Bonds subject to redemption.
Q) Eligible corporation electing to be taxed as a partnership.
R) Corporate ownership interest having superior contractual rights with regard to dividends, liquidation rights, or both.
S) May be exchanged for other securities.
T) Claims against a corporation's general assets and also a lien on specific property.
U) Basic organizational document of a corporation; charter.
V) Shares reacquired by a corporation.
W) Opportunity to purchase a pro rata share of new stock offerings.
X) Source of capital creating an ownership interest in the corporation.
Y) A corporation's exercise of the right to repurchase its own shares.
Correct Answer
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Correct Answer
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A) a claim brought by a dissenting shareholder that questions the validity of a merger as a result of wrongful conduct on the part of majority shareholders or directors is properly a derivative suit.
B) a shareholder who opposes a merger must either accept the terms of the merger and exchange their shares for new shares or dissent from the merger and forfeit their stock.
C) minority shareholders may challenge the merger process if it is procedurally deficient or if fraud affected the shareholder vote on the merger.
D) minority shareholders have no right to sue to enjoin or rescind an invalid merger, but must be satisfied with money damages.
Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A) merger.
B) consolidation.
C) compulsory share exchange.
D) short-form merger.
Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A) extending the duration of a corporation if it was incorporated when limited duration was required by law.
B) changing each issued and unissued authorized share of an outstanding class into a greater number of whole shares if the corporation has only one class of shares.
C) making minor name changes.
D) All of the above.
Correct Answer
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Correct Answer
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A) Directors are elected by a plurality of votes.
B) Authorization to vote another's shares at a shareholder meeting.
C) Permits a domestic business corporation to become a domestic or foreign partnership, LLC, or other entity; permits a domestic of foreign partnership, LLC, or other entity to become a domestic business corporation.
D) Change of a corporation's state of incorporation.
E) Entitles each shareholder to give one candidate as many votes as the number of directors to be elected multiplied by the number of shares owned.
F) Minimum number necessary to be present at a meeting in order to transact business.
G) Brought by shareholder on behalf of the corporation to enforce a right belonging to the corporation.
H) Brought by a shareholder to enforce a claim against the corporation based upon his ownership of shares.
I) Must exercise ordinary care and prudence.
J) Fiduciary obligation of faithfulness; subordination of self-interest.
K) Must act within their respective authority.
L) The combination of assets of two or more corporations into one of the corporations.
M) The combination of two or more corporations into a new corporation.
N) Precludes imposing liability on directors and officers for honest mistakes in judgment if they act in good faith with due care.
O) A general invitation to all the shareholders of a target company to sell their shares at a specified price.
Correct Answer
verified
Correct Answer
verified
A) shareholder approval is necessary.
B) shareholder approval is required if so determined by a subjective test under the 1999 amendments to the Revised Act.
C) approval of the board and the majority of the corporation's outstanding shares is required; dissenting shareholders do not usually have an appraisal remedy.
D) shareholder approval is unnecessary, unlike for the sale of assets.
Correct Answer
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Correct Answer
verified
Correct Answer
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Correct Answer
verified
A) Debt agreement specifying loan terms.
B) One created under the laws of a given state.
C) One created under the laws of any other state or jurisdiction.
D) Person who takes the preliminary steps to organize a corporation.
E) Person who signs the articles of incorporation.
F) Rules governing a corporation's internal management.
G) One formed in substantial compliance with the incorporation statute and having all corporate attributes.
H) One not formed in compliance with the statute but recognized for most purposes as a corporation.
I) One whose shares are owned by a large number of people and are widely traded.
J) One created to administer a unit of local civil government.
K) Any action taken or contract made by a corporation that goes beyond its express and implied powers.
L) Source of capital creating no ownership interest and involving the corporation's promise to repay funds loaned to it.
M) A type of debt security.
N) Person who agrees to purchase stock in a corporation.
O) Condition the payment of interest to some extent on corporate earnings.
P) Bonds subject to redemption.
Q) Eligible corporation electing to be taxed as a partnership.
R) Corporate ownership interest having superior contractual rights with regard to dividends, liquidation rights, or both.
S) May be exchanged for other securities.
T) Claims against a corporation's general assets and also a lien on specific property.
U) Basic organizational document of a corporation; charter.
V) Shares reacquired by a corporation.
W) Opportunity to purchase a pro rata share of new stock offerings.
X) Source of capital creating an ownership interest in the corporation.
Y) A corporation's exercise of the right to repurchase its own shares.
Correct Answer
verified
Correct Answer
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Correct Answer
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Correct Answer
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