Quiz 07.docx - Quiz 07 Which of the following situations...

Quiz 07
Which of the following situations describes a consolidation?
ABC Inc. had combined with
XYZ Inc., the resulting corporation was named as STU Inc.
Statement 1. The rights of creditors or liens upon the property of any of such constituent
corporations shall not be impaired.
Statement 2. The constituent corporations shall become a single corporation which shall be
the surviving corporation in consolidation and the consolidated corporation in merger.
Arrange the following steps in order to exercise appraisal right
A. Payment of fair value: and
B. Submit a written demand on the corporation within thirty days after the date on which the
vote was taken
C. Shareholder shall transfer his shares to the corporation.
D. Surrender of certificate of stock within 10 days for notation B, D, A, C
Statement 1. The surviving or consolidated corporation shall be responsible and liable for all