64 Fite-Oat Curporation makes and sells aircraft parts In most states, the minim
ID: 382759 • Letter: 6
Question
64 Fite-Oat Curporation makes and sells aircraft parts In most states, the minimum number of d ust Ne present before Flite-Craft's board could transact its business is All of the directors authorized in the articles or bylaws Nrity of the number authorized in the articles or bylaws d Wd &Sival; River ours, Inc is a corporation Wild & Scenic has the impliod power aackl number A A perforen all asts reasonably appropriate and necessary to accomplish its corporate sirystses buy and sell (or lease) property issue stoeks and bonds d puecute contracts and negotiable instruments s Jian ant Kiley are architects and members of J&K;, P.C., a professional corporation Jim supervises I myee of the firm. As a member, Jim a has no hability for any torts committed by Kiley or Luc h may bo personally liable for malpractice committed by Luc is psrsonally liable for any tort committed by Kiley d has inited liability for any of Kiley's acts of malpractice at oitis a shareholder of Pinkwater Corporation. In some states, Orin might incur personal liabilit PNek water obligations if he a Nys stock for less than its fair-market value accepts a dividend knowing that it was paid from retained earnings sells his shares. à fails to fulfill his fiduciary duty to the majority shareholders. na owns one share of stock in GRS Boards Corporation, as evidenced by a stock centificat the certificate. Her ownership of the stock is A a ürfeited within ten days of a third party's claim to ownership. h iot aftèected. s forfeited within thirty days if she cannot find the certificate. d forfeited immediately 62 Cara and Deu are officers of EZ Trucking Corporation. As corporate officers, the rights of a. specified in state corporation statutes h the same as those of the directors. determined by their employment contracts d. the same as those of the shareholders. Discount Factory Outlets, Inc., issues bonds. Bonds a. have maturity dates. h are sometimes referred to as "stock with preferences." c require periodic interest payments from their owners. d are issued by businesses only.Explanation / Answer
Answer 64:- Flite-Craft Corporation makes and sells aircraft parts. In most states, the minimum number of directors that must be present before Flite-Craft's board can transact its business is?
Correct Answer:- a majority of the number authorized in the articles or bylaws
Answer 65:- Wild & Scenic River Tours, Inc., is a corporation. Wild & Scenic has the implied power to
Correct Answer:- PERFORM ALL ACTS REASONABLY appropriate and necessary to accomplish its corporate purposes
Answer 66:- Jim and Kiley are architects and members of J&K, P.C., a professional corporation. Jim supervises Luc, an employee of the firm. As a member, Jim
Correct Answer:- may be personally liable for MALPRACTICE committed by LUC.
Answer 67:- Orin is a shareholder of Pinkwater Corporation. In some states, Orin might incur personal liability for unpaid Pinkwater debts if he?
Correct Answer:- buys stock for less than its fair-market value
Answer 68:- Fiona owns one share of stock in GR8 Boards Corporation, as evidenced by a stock certificate. Fiona loses the certificate. Her ownership of the stock is?
Correct Answer:- not affected
Answer 69:- Cara and Dru are officers of EZ Trucking Corp. As corporate officers, the rights of Cara and Dry are
Correct Answer:- determined by their employment contract
Answer 70:- Discount Factory Outlets, Inc., issues bonds. Bonds
Correct Answer:- have maturity dates.
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