TUTE TWELVE NOTES.docx - TUTE TWELVE NOTES Send answers in before the 6th of June for the revision questions on Moodle One major difference between a

TUTE TWELVE NOTES.docx - TUTE TWELVE NOTES Send answers in...

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TUTE TWELVE NOTES Send answers in before the 6 th of June for the revision questions on Moodle One major difference between a partnership and the corporation is to do with liability The partners are indistinguishable from the partnership Who runs a corporation? - Employees - Directors Shareholders are owners Fiduciary duty - It is the duty of upmost good faith and duty Owed by one partner to the other Agents owe it to principles Directors owe a fiduciary duty to the corporation Shareholders have limited liability Partly paid shares- pay $1 now for a $2 share and then pay the other $1 later Chapter 17 Question 11 – THIS WILL PROBABLY BE ON THE EXAM!!This is a directors duties case Directors of the company- Clinton, Joseph and Elizabeth December 2009- temporary cash flow issues and could pay the creditors off by February
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  • Fall '17
  • Erica Brady

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