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ASSIGNMENT A closely held corporation sought to repurchase 25 percent of its outstanding shares from one of its shareholders. The corporation and the shareholder agreed that the corporation would purchase all of the shareholder’s stock at a price of $500,000, payable $100,000 immediately in cash and the balance in four consecutive annual installments. The State’s […]
ASSIGNMENT 1. Paul Bunyan is the owner of noncumulative 8 percent preferred stock in the Broadview Corporation, which had no earnings or profits in 2015. In 2016, the corporation had large profits and a surplus from which it might properly have declared dividends. The directors refused to do so, however, instead using the surplus to […]
TASK 1.Olympic National Agencies was organized with an authorized capitalization of preferred stock and common stock. The articles of incorporation provided for a 7 percent annual dividend for the preferred stock. The articles further stated that the preferred stock would be given priority interests in the corporation’s assets up to the par value of the […]
Discussion Post When we hear the phrase “fake news” we often think of politicians and the media. However, businesses also perpetuate fake news, often unwittingly. LeanSpa, an Internet retail business that sold purported weight loss products under various brand names, hired LeadClick to provide online advertising through its affiliate network. Toward that end, certain LeadClick […]
Financial Structure • Distinguish between equity and debt securities.• Identify and describe the principal kinds of debt securities.• Identify and describe the principal kinds of equity securities.• Explain what type and amount of consideration a corporation may validly receive for the shares it issues.• Explain the legal restrictions imposed upon dividends and other distributions
ASSIGNMENT In May, Parr and Presba, while in the course of negotiations with Barker (a salesperson for Quaker Hill) to purchase plants and flowers, undertook to organize a corporation tobe named the Denver Memorial Nursery, Inc. On May 14 and 16, Parr signed two orders on behalf of Denver Memorial Nursery, Inc., which, to the […]
ASSIGNMENT 1. In April, Cranson was asked to invest in a new business corporation that was about to be created. He agreed to purchase stock and to become an officer and director.After his attorney advised him that the corporation had been formed under the laws of Maryland, Cranson paid for and received a stock certificate […]
ASSIGNMENT 1.An Arkansas statute provides that if any foreign corporation authorized to do business in the State should remove to the Federal court any suit brought against it by an Arkansas citizen or initiate any suit in the Federal court against a local citizen, without the consent of the other party, Arkansas’s Secretary of State […]
QUESTIONS 1. After part of the shares of a proposed corporation had been successfully subscribed, one of the promoters hired a carpenter to repair a building that was to be conveyed to the proposed corporation. The promoters subsequently secured subscriptions to the balance of the shares and completed the organization, but the corporation, finding the […]
Nature, Formation, and Powers • Identify the principal attributes and classifications of corporations. • Explain how a corporation is formed and the role, liability, and duties of promoters. • Distinguish between the statutory and common law approaches to defective formation of a corporation. • Explain how the doctrine of piercing the corporate veil applies to […]
