ANSWERS-CH42 - CHAPTER 42 ORGANIZATION, FINANCIAL...

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CHAPTER 42 ORGANIZATION, FINANCIAL STRUCTURE. AND DISSOLUTION OF CORPORATIONS ANSWERS TO CHAPTER 42 True-False Multiple Choice 1. F 2. T 3. F 4. T 5. F 6. F 7. T 8. T 9. F 10. T 11. F 12. T 13. F 14. c 15. a 16. d 17. d 18. c 19. b 20. d 21. a 22. c 23. a Short Essay 24. No. H is only doing interstate business and is not doing business in West Virginia and is not subject to the state’s incorporation laws. 25. The restriction on transfer is not enforceable against Little. Such a restriction generally is not enforceable against a shareholder unless he either agreed to it or purchased his shares with notice of it. Here, the facts show that Little did not agree to the restriction. Neither did he purchase his shares with notice of the restriction, because the restriction was not imposed until after his shares had been issued to him. Business Law and the Regulatory Environment, 11E 69
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26. Under the revised MBCA, Perry will be held personally liable because he meets both of the prerequisites to liability for a defective incorporation:
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This note was uploaded on 04/30/2010 for the course BUSLAW 301 taught by Professor Abu during the Spring '09 term at Abu Dhabi University.

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ANSWERS-CH42 - CHAPTER 42 ORGANIZATION, FINANCIAL...

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