Bul 5810 corporations Study guides, Class notes & Summaries

BUL 5810 - CORPORATIONS EXAM WITH QUESTIONS AND ANSWERS...

BUL 5810 – CORPORATIONS Test 2 with Questions and 100% Correct Answers James, a promoter of Unobtainium Corporation, has a fiduciary duty to: - Answer Both the other promoters and the initial shareholders of Unobtainium Corporation Use of "Evans & Hall, Ltd." as a corporate name would be: - Answer permissible as long as it is distinguishable from the nae of any other domestic corporation or any foreign corporation authorized to do business within the state

BUL 5810 – CORPORATIONS TEST 2 QUESTIONS WITH REVISED ANSWERS Which of the following is the basic governing document of a corporation? - Answer-Articles of Incorporation The incorporators would typically do which of the following? a. Purchase outstanding shares. b. Assemble the assets. c. Sign the charter. - Answer-Assemble the assets Whether a corporation is a de facto corporation may be challenged by: - Answer-the state in which the business attempted to incorporate ...

BUL 5810 – CORPORATIONS TEST QUESTIONS WITH CERTIFIED ANSWERS Barbara, a self-made millionaire, wants to start a corporation exclusively for charitable and educational purposes. What type of corporation should Barbara form? - Answer-Non-profit corporation In the case of Harold Lang Jewelers, Inc. v. Johnson, the court found that: - Answer-Lang's business was regular, continuous and substantial such that it was transacting business in North Carolina In the case of Coopers & Lybrand v...

BUL 5810 – CORPORATIONS Test 2 with Questions and 100% Correct Answers

Which of the following is NOT a characteristic of the corporate form of doing business? ~~> Informal organization All of the following are characteristics of a corporation EXCEPT: a. it has perpetual existence. b. it is a legal entity of its own. c. it is able to be sued and to sue. d. it is usually managed by its owners. ~~> It is usually managed by its owners A corporation is considered a citizen: ~~> of the state in both (1) where it has a principal office (2)...

BUL 5810 – CORPORATIONS EXAM with Questions and 100% Correct Answers

Wyatt, the sole stockholder of International Travel Corporation, wrongfully used the corporation to avoid a personal liability. A court's disregarding the corporate entity and holding Wyatt personally liable is called: - Answer piercing the corporate veil Claire opened Claire's Beauty Parlor in her home. She solicited funds to begin the business from Jack, who believed that the business was incorporated. Claire had, in fact, never filed the papers. One day, Claire fell asleep while giving...

BUL 5810 – CORPORATIONS TEST QUESTIONS WITH CERTIFIED ANSWERS Wyatt, the sole stockholder of International Travel Corporation, wrongfully used the corporation to avoid a personal liability. A court's disregarding the corporate entity and holding Wyatt personally liable is called: - Answer-piercing the corporate veil Claire opened Claire's Beauty Parlor in her home. She solicited funds to begin the business from Jack, who believed that the business was incorporated. Claire had, in fact, ...