According to the MBCA,who amongst the following is liable for a defective corporation's contracts and torts?
A) A shareholder manager who knows that the corporation does not exist.
B) A passive shareholder who knows that the corporation does not exist.
C) A nonshareholder manager who believes that the corporation exists.
D) A member of the board of directors who believes that the corporation exists.
Correct Answer:
Verified
Q38: A(n)_ occurs when a corporation accepts a
Q39: On preincorporation share subscriptions:
A)promoters have no liability.
B)promoters
Q40: Under the Model Business Corporation Act (MBCA),a
Q41: _ are long-term,unsecured debt securities.
A)Options
B)Warrants
C)Bonds
D)Debentures
Q42: Promoters of a youth-oriented magazine publishing business
Q44: Shares permitted to be issued by a
Q45: According to the Model Nonprofit Corporation Act
Q46: N-Gate Corporation (NGC)was defectively organized.As a result,not
Q47: When the promoters of a business substantially
Q48: Generally,_ have a shorter duration than debentures
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