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ASSIGNMENT Victor sells to Bonnie a refrigerator for $600 payable in monthly installments of $30 for twenty months. Bonnie signs a security agreement granting Victor a security interest in the refrigerator. The refrigerator is installed in the kitchen of Bonnie’s apartment. There is no filing of any financing statement. Assume that after Bonnie has made […]
ASSIGNMENT 1.Zenith Steel Company operates a prosperous business. The board of directors voted to spend $20 million of the company’s surplus funds to purchase a majority of the stock of two other companies—the Green Insurance Company and the Blue Trust Company. The Green Insurance Company is a thriving business whose stock is an excellent investment […]
Q U E S T I O N S 1. The stock in Hotel Management, Inc., a hotel management corporation, was divided equally between two families. For several years, the two families had been unable to agree on or cooperate in the management of the corporation. As a result, no meeting of share- holders or […]
Fundamental Changes • Explain the procedure for amending the charter and list which amendments give rise to the appraisal remedy. • Identify which combinations do not require shareholder approval and which give dissenting shareholders an appraisal remedy. • Distinguish between a tender offer and a compulsory share exchange. • Compare and contrast a cash-out combination […]
ASSIGNMENT Sinclair Oil Corporation organized a subsidiary, Sinclair Venezuelan Oil Company (Sinven), for the purpose of operating in Venezuela. Sinclair owned about 97 percent of Sinven’s stock. Sinclair nominates all members of Sinven’s board of directors, and none of the directors were independent of Sinclair. A minority shareholder of Sinven brought a derivative action on […]
ASSIGNMENT 1. Donald J. Richardson, Grove L. Cook, and Wayne Weaver were stockholders of Major Oil. They brought a direct action, individually and on behalf of all other stockholders of Major, against certain directors and other officers of the corporation. The complaint stated twelve causes of action. The first eight causes alleged some misappropriation of […]
ASSIGNMENT 1. Neese, trustee in bankruptcy for First Trust Company, brings a suit against the directors of the company for losses the company sustained as a result of the directors’ failure to use due care and diligence in the discharge of their duties. The specific acts of negligence alleged are (a) failure to give as […]
1.The X Corporation manufactures machine tools. The five directors of X Corporation are Black, White, Brown, Green, and Crimson. At a duly called meeting of the board of directors of X Corporation in January, all five directors were present. A contract for the purchase of $10 million worth of steel from the D Company, of […]
ASSIGNMENT 1.Brown, the president and director of a corporation engaged in owning and operating a chain of motels, was advised upon what seemed to be good authority that a superhighway was to be constructed through the town of X, which would be a most desirable location for a motel. Brown presented these facts to the […]
Management Structure • Compare the actual governance of closely held corporations, the actual governance of publicly held corporations, and the statutory model of corporate governance. • Explain the role of shareholders in the management of a corporation. • Explain the role of the board of directors in the management of a corporation. • Explain the […]
