Fact Pattern 41-1
Grandview Office Suites, Inc., merges with Hilltop Commercial Properties, Inc. Only Hilltop remains.
-Refer to Fact Pattern 41-1. Grandview owed money to Innovative Décor, Inc., and other creditors. After the merger, Hilltop must pay
A) all of Grandview's debts.
B) half of Grandview's debts.
C) none of Grandview's debts unless there is a formal transfer of liability.
D) only debts that Grandview incurred after a merger was proposed.

Question

Fact Pattern 41-1​
Grandview Office Suites, Inc., merges with Hilltop Commercial Properties, Inc. Only Hilltop remains.
-Refer to Fact Pattern 41-1. Grandview owed money to Innovative Décor, Inc., and other creditors. After the merger, Hilltop must pay​
A) ​all of Grandview's debts.
B) ​half of Grandview's debts.
C) ​none of Grandview's debts unless there is a formal transfer of liability.
D) ​only debts that Grandview incurred after a merger was proposed.

Quizplus · Accepted Answer

In a merger, the surviving company (Hilltop) assumes all liabilities and obligations of the merged company (Grandview), including its debts.

Fact Pattern 41-1​ Grandview Office Suites, Inc., Merges with Hilltop Commercial Properties, Inc

Fact Pattern 41-1 Grandview Office Suites, Inc., Merges with Hilltop Commercial Properties, Inc