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Was the court correct in rendering this decision? Explain.Is the validity of the stock thus issued in any way questionable? Explain. What are the rights of Smith and Jones?

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 […]

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