ARTICLES OF INCORPORATION
(Under the General Corporation Law of California)
FIRST: The name of the corporation is _ [full name of corporation
including corporate suffix].
SECOND: The principal place of business of the corporation is _
Joan and Bob
1. Joan's conduct will be protected by the business judgment rule. Just because a loan
decision turns out badly, it is not grounds for a derivative lawsuit.
2. It is not very likely that a derivative lawsuit against Joan will succeed as altho
a) If the shareholders bring a derivative action against Aquaman,
the federal law they should accuse Aquaman of having violated is
Rule 10b-5 of the Securities and Exchange Act of 1934 (17 CFR
b) A derivative action has been broug
Joan sits on the board of directors for Manbank. Her friend bob wants to get a loan to start a new airline.
Joan researches Bobs background. After her research on Bob is complete she recommends Bob get the
loan. His airline did not do we
General partnership: general partnerships when all partners manage the business and assume
responsibility for its debts. General partnerships are easy to start up, there are no fees required to create
the business and the net business losses
For a bankruptcy discharge to be denied or revoked, (11 U.S.C.727) it will have to be proven
that the debtor concealed, destroyed, falsified, or failed to keep and preserve books and records
showing debtors financial position.
If within one y