Max buys shares of newly issued Z Corp.stock for $10 per share and pays $1,000 cash, a car worth $2,000, and a promissory note for $5,000.Under traditional corporate law, followed in about half of the states, how many shares of stock could Max validly buy?

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The Answer of Max buys shares of newly issued Z Corp.stock for $10 per share and pays $1,000 cash, a car worth $2,000, and a promissory note for $5,000.Under traditional corporate law, followed in about half of the states, how many shares of stock could Max validly buy?

Max Buys Shares of Newly Issued Z Corp